What is Cloud-based Predictive Analytics?
Cloud Computing is the known technological advancement in the era of data and activity management which got immense with Predictive Analytics. Thus, the term Cloud-based Predictive Analytics is closely inclined to the concepts of Artificial Intelligence (AI), Deep Learning (DL), and Machine Learning (ML).
Moreover, the features of IoT (Internet of Things) are well implemented in the industry applications of Cloud-based Predictive Analytics too. As a result, Cloud platforms allow quick experimentation of ideas through Proof of Concepts (POCs) and provide a rich software ecosystem to support the development of AI applications and training Deep Learning.
Use Cases of Cloud-based Predictive Analytics
Cloud Infrastructure and Predictive analytics, aim to evaluate the performance of the application, manage infrastructure, support capacity and policy management, etc. The more extended use cases of Cloud-based Predictive Analytics are mentioned in detail below.
|Optimizing Cloud Infrastructure||The use of Predictive Analytics in the field of Cloud Computing allows users to directly use the knowledge gleaned from data instead of undergoing multiple data processing steps. This improves the process of developing useful insights and supports resource provisioning, load balancing, and storage capacity, and makes the instance selection process easier.|
|Supports Application Assurance and Uptime||Predictive Analytics proactively prepares the system for all the possible downtime and mitigates the expected infrastructure performance issues. Based on the timely prediction the cloud platforms are now able to troubleshoot issues and improve Mean Time to Detect (MTTD), and Repair (MTTR). The Predictive Analytics in Cloud also cut through the noise to ensure only impactful metrics are adopted by the company.|
|Facilitate Application Discovery and develop insights||Cloud is the hybrid IT environment where infrastructure discovery is the greatest challenge this limits the visibility and control over the cloud-based services. The complete Cloud-based enterprise network gets a complete understanding of how to interact and relate with each component on the cloud. Thus, the incorporation of Predictive Analytics in the Cloud steers its operation in real-time and responds to potential application issues.|
|Regulates Cloud Audit, Compliance, and Security||Using the Artificial Intelligence technologies like Predictive Analytics the Cloud automates the audit, security, and regulatory activities. It eliminates the data, and non-compliance, and makes it easier for the cloud to operate in sensitive industries like defense, finance, and healthcare. Thus, it can be said that Cloud-based Predictive Analytics unify the diverse, distributed, and disparate information spread across various networks.|
Examples of Cloud-based Predictive Analytics
There are several companies across the globe that have made the best use of Cloud-based Predictive Analytics to accelerate their cloud performance.
|General Electric||The company began its transformation journey in the year 2014 by relying on cloud-based apps and services. The adoption of cloud-based Predictive Analytics allows companies to build and refocus on data resources while supporting the innovation. Furthermore, the company was also able to concentrate on other areas of operations by trusting the AWS cloud infrastructure.|
|Apple||Siri which is a renowned product of Apple revolutionized the mobile phone experience by allowing the cloud to receive and process user inquiries. iCloud, Apple’s cloud program is one such example to prove that giant firms are actively adopting the concept of Cloud Analytics to ease the cloud functioning.|
|eBay||When eBay decided to relocate its marketplace, Google’s Cloud Platform was inbuilt with Predictive Analytics playing a crucial role. Furthermore, in the year 2018 eBay in-house systems that usually took 40 days to complete the Machine Learning assignment took only 4 days to finalize them.|
|Netflix||The company was seeking a method to store large data sets for an extended user base which required scalability in the infrastructure. By using the Cloud-based Predictive Analytics Netflix was able to keep the track of 117.58 million global customers with over more than 140 million hours of video each day.|
|The popular social networking site is using the advanced cloud network to adapt to traffic levels and site. This increases its popularity and is made the earliest one in the cloud computing triumphs.|
Top Cloud-based Predictive Analytics Software
There is some Cloud-based Predictive Analytics software that has made it to the top list of companies across the globe. These software or cloud platforms are just a few out of many because the list of these software is a highly extended one.
|Sisense for Cloud Data Teams||Formerly known as Periscope Data it is an end-to-end BI analytics solution that securely connects and joins the vast data set to make the process of reporting and analyzing easier. Being an integrated platform it communicates the insights more effectively in the form of standard charts, plots, maps, and other such forms.|
|Microsoft Power BI Pro||Microsoft products are the benchmarks in the industry and this SaaS business solution is one of them. Largely developed for non-technical business users this Power BI Mobile App deeply explores the data and take it through the process of preparing interactive visual, reports, etc.|
|IBM Cognos Analytics||This profound software offers smart self-service capabilities to the users by personalizing the dashboards. By giving a unified data experience to its users IBM Cognos Analytics supports them in the process of precise decision-making.|
|Amazon Quick spot||It is a cloud-based Business Intelligence tool that is used for building visualizations, getting business insights, and performing ad-hoc analysis. The tool is known for its super-fast In-memory calculation Engine. Moreover, it is 1/10th cost of traditional analytical and BI solutions.|
|SAP Business Objects BI||This particular software is designed to empower the process of data discovery. SAP Business Objects BI helps to gain increased visibility for the KPIs across the business line. As a result, it improves organizations’ relationships with customers and suppliers. Furthermore, it provides Ad-hoc reporting and multidimensional analysis to support business processes.|
|Domo||It is a cloud-based business management platform that transforms the way businesses are operated. The decision-makers across the globe use this tool to make faster and more effective decisions. Thus, this technical component helps to derive meaningful value from business data by optimizing the data faster which in turn improves performance.|
Future of Cloud-based Predictive Analytics
Predictive Analytics has a wide range of use cases in predicting and streamlining the data across various industries. However, it acts as the “sweet spot” for cloud computing. Cloud Analytics uses remote, private, and public computing resources to analyze the data. The entire concept of Cloud-based Predictive Analytics is backed by the idea of centralized data and cost reduction which scale the overall Cloud Infrastructure.
Market Research’s 2017 report suggests that the global cloud-based intelligence software market is expected to reach $57,055 million by 2023. This indicates an increase of 10% CAGR in merely half a decade. Furthermore, another report suggests that Cloud Adoption has led to a 60% improvement in campaign management along with 59% in CRM scoring.
The significant adoption rate of Cloud Analytics is a result of its promising and innovative business solutions where leading players have already taken the game ahead. Thus, Cloud-based Predictive Analytics has raised the technological bar quite higher for the industrial experts and will continue to do so with more advanced innovation on the way.