Big Data analysis is the foremost advantage of cloud systems that can provide a competitive advantage to businesses. Cloud computing today is affordable and accessible for both MSMEs or medium-sized enterprises and small enterprises. Traditionally, business and Big Data analysis methods involve:
- Dedicated large IT systems
- Expensive proprietary software
- Their licensing issues
- Large hardware platforms that cost a ton and were out of the reach of ordinary users
How cloud models work:
The modern cloud systems and their ability for big data analytics do not require sophisticated IT technical expertise. Actually, the collaborative cloud systems provide global decision-making capabilities and information rapidly through the following business models.
- BPO services model or Business Process Outsourcing
- IaaS or IT Infrastructure as a service model
- SaaS or Software as a Service model
- Paas or Hardware Platform as a Service model
The competitive advantages:
Businesses can garner several competitive edges in various fields as described below:
- Big Data Analytics from cloud computing can provide business decisions, predictions, meaningful insights into customer relationships, and more.
- Cloud Consulting and Business Processes gain the competitive edge from data integrity, cloud computing at cost-effective prices, customized deployment, and a variety of readily available services.
- Business Models from cloud computing lead to speedy and easy development of cloud business models at a lower cost for customized business needs and objectives.
- Global Business Collaboration helps business workers become more productive through effective cloud computing due to 99% zero downtimes.
- Decision Support results from taking those complex business data decisions to analyze and predict trends from business reporting and analytics.
- Cost and productivity metrics allow employees to use cloud computing and work from home or remotely. Thus, lesser commuting measures and distractions are present, resulting in improved productivity and efficiency.
Tips for effective competitive strategy:
Here are some of the more critical areas where you can make a difference in deriving the maximum benefits of cloud computing.
- When using the cloud, know your needs and budget to leverage and understand your choices of clouds, services, brand, needs, etc., which affect your monthly bills and infrastructure costs.
- Know your client audience and markets well to effectively use data storage, data analytics, and cloud services to get the best predictions, insights for better business-decision capacities.
- Don’t address everyone’s needs. It would be best if you move only crucial processes aiding business decisions, data storage, etc., to the cloud.
- Stay focused on your business model and use employees well to obtain the best results for your company.
- Cloud computing improves your customer loyalties and relationships. So aim to make evangelists of your customers.
- Restructure decisions to go Agile and stay involved in the decision-making processes.
- Choose your cloud service wisely for its prices, reliability, accuracy, speed, data integrity, and lack of downtime.
The bottom line:
Thus the sharing of Big Data, hardware, software, etc., as services has provided decision-making abilities on a pay-on-use basis at a fraction of the enormous costs involved in IT infrastructure and enables better productive speeds, higher collaboration levels, and value through accurate, speedy analysis and predictions for all sizes of businesses. If you are a graduate or working professional interested in making a career in cloud computing, visit Great Learning’s cloud computing courses online and enrol today.
