Editor’s Note: Today’s blog is from our friend Derrick Rehn with FusionOps who shows us how big data analytics can benefit you in your supply chain.
As big data analytics offer a sizeable competitive advantage for many industries, the drive to deliver cutting edge innovation in data analytics is ever increasing. The inevitable question that comes up often is simple – should we build on-site or utilize a cloud-based data monitoring service? The right decision hinges upon the point where the cost and ability to build overshadows the time to value of cloud-based solutions. In areas of big data analytics for enterprises, the answer is inevitable – use the cloud.
Implementing Advanced Analytics
Early adopters of Big Data and advanced analytics spent a significant percent of IT budgets modernizing analytics capabilities. This involved scalable cloud-based architectures, integration frameworks, tuned compute and storage, Hadoop constructs, and visualizations. Let’s not exclude the necessity of the team of domain experts to construct intelligence around domain areas. Of the many firms looking to implement big data analytics, a startling few have the ability to invest the capital required to accomplish such an ambitious project.
Make no mistake, the value delivered by successful projects is significant, but very few companies ever come close to meeting this goal. In reality, many do-it-yourself big data analytics projects fail to deliver on the expected target. In fact, according to one Gartner report*, up to 70% of BI projects fail to meet end-user expectations. The biggest obstacles are cost, lack of technology expertise, best practices, and domain knowledge to unlock the value in data. For the fast followers, these massive upfront investments are no longer necessary to achieve equal or better results. Big Data and cloud companies, like FusionOps, are delivering innovative platforms at a significantly lower cost and faster time to value.
At the end of the day, creating enterprise grade supply chain data analytics is not a core competency for most companies. CIOs are finding that partnering with a cloud analytics provider is the best strategy for success. These partnerships help drive innovation by delivering powerful new analytics to business users with an enterprise-grade cloud. Studies show that customers eliminate the overhead and lengthy timetables associated with achieving real analytics value.
Data Analytics in the Cloud
One example of the competitive advantage gained with cloud involves analytics across the many data silos that make up today’s enterprise Big Data environments. By utilizing cloud-based analytics, customers go from simple descriptive metrics to higher order analytics in no time leveraging multiple data sources. Each user, in turn, becomes a data scientist able to make high-value decisions prescribed by data. This is an aspirational outcome for companies trying to do this on their own while still having to manage the ongoing critical IT needs for the core business.
Being an IT hero requires a new way of thinking. Delivering on the promise not only increases the perception of IT as a business partner, but it positions IT as a core competitive capability. Look to the cloud as a critical enabler. Consider that if a never-ending, on-premise project is holding you back; let FusionOps help you get to value faster.