If you've ever had to chase down data for a report, you know it requires multiple steps, perhaps multiple trips to IT, and possibly multiple software programs to come to a single source of the truth.
Successful data analytics doesn't need to be so complicated. It turns out that all you really need is a single, cloud-based platform, whether the data is in a spreadsheet or a data warehouse.
"Most business people don't wake up one day and decide to do analytics, they have other jobs to do," says Matt Milella, VP of Development Oracle Analytics. "But they need analytics to do their jobs. We want to make the steps easier and easier, so you can take advantage of the really important information."
Milella recently spoke during a webcast entitled, "Make Innovation Your Business with Oracle Analytics Cloud," which outlined the benefits of a cloud-based analytics platform that makes it easier to get to actionable insights. The presentation also included a demonstration of the latest version of Oracle Analytics Cloud.
Historically, your path between all your relevant data and the valuable insights you are looking for has been full of obstacles such as outdated or complex data, blending disparate data sets, business modeling, aggregating the information, and publishing among your peers or even customers.
Cloud-based analytics platforms overcome these obstacles by allowing for personal and proactive experiences thanks to data visualizations and improved data modeling capabilities.
Cloud implementations for analytics platforms continue to outpace on premises business intelligence systems. Researchers estimate the market size will double from its current levels of $57.4 billion to $100.3 billion by the end of 2025. While North America leads the way in implementations, European and Asia-Pacific businesses are also building their analytics in the cloud to glean insight from social media, mobile devices, and other forms of unstructured data.
And while business people have tried to take a do-it-yourself attitude with standalone desktop analytics programs to augment their spreadsheet reports, more successful organizations rely on cloud-based analytics platforms to inspect, prep, and deliver relevant data in real time.
"The 'one version of the truth' dilemma still exists and it is really important that data sets can be accessed and curated to improve time to insight, deep pattern profiling," Milella says.
Instead of multiple vendor solutions cobbled together, Milella suggests a single analytics platform is beneficial in three ways. First, you absolutely need a proactive and actionable analytics platform where the system automatically alerts you to changes, has context at every level, and is accessible and actionable.
Second, the analytics platform needs to provide self-service insights. The user should have the freedom to explore with reliable data quality. And third, this platform should have embedded machine learning and advanced analytics that connect to all forms of data and allows for improved exploration and data discovery.
"One of the benefits of an integrated analytics platform is that it does a lot of the heavy lifting for you," Milella says