Benefits of Data in the Cloud For Companies
Society is generating more and more data, going from two zettabytes in 2010 to 64 zettabytes in 2021, according to Statista data. This generation and use are also transferred to the business environment, where the data companies need are increasing.
Despite this, 70% of companies say they collect more data than they can analyze and use, leading to wasted information and resources, according to the Data Paradox report carried out by Forrester. Likewise, one of the consequences of the pandemic has been the increase in the demand for data that companies need, increasing the amount they collect by 56%.
In this collection and management process, companies have detected that they have information silos that they do not use and that even slow them down or prevent them from growing at the same rate as before.
Thus, 60% of data managers believe that existing silos in their organizations are one of the main barriers when establishing a data strategy. In this sense, Sistemas highlights the five benefits of optimizing the data in silos and moving it to the cloud.
Better use of storage
Currently, the optimization of storage space is one of the main challenges that organizations face. According to Forrester data, 60% of companies are working to reduce data silos, and 64% intend to keep a significant portion of data under more comprehensive control.
In this sense, the elimination of silos and the storage of this information in the cloud helps to avoid the duplication of data since all employees have access to the information and also enhances accessibility and security since employees tend to keep fewer copies on their devices if they know they can easily access them.
Increased communication and collaboration
Usually, the information stored in silos is forgotten by many of the organization’s workers, even by the top management, affecting the very development of the company’s activity. Thus, cloud storage will help all employees of the organization to have access to relevant information with which to make the right decisions at all times.
This will also help improve communication and collaboration between departments which, thanks to this new storage, will be able to have information from all the teams, improving communication with them and increasing business transparency. This better use of the information will transform companies, making them more horizontal and digital,
Increase in competitiveness
Data collection with a marked structure and strategy undoubtedly increases competitiveness. This is something that the main business managers have already internalized since, according to a recent Deloitte study, 59% of them considered it a key lever to achieve competitive advantages.
In this sense, a good data strategy allows companies to analyze them, make strategic decisions to be more competitive, and anticipate the competition when identifying market needs. This analysis is possible as long as this information is visible to the company, so reducing silos and transferring this information to the cloud is essential to increase competitiveness.
Maximum use of resources
The lack of structure and analysis of the collected data causes data silos to increase. It is, therefore, important that companies that are beginning to bet on these technologies take them into account since they represent a large investment in the early stages of their implementation.
Companies that have these technologies and do not take full advantage of them will generate big data without decoding it, making it difficult to apply in various business areas and wasting their tools in the short and long term.
The commitment to transfer information from data silos to the cloud also allows significant cost savings for companies since they do not need their storage infrastructure. According to the data published by Red.es, the savings when using this model is very significant for an SME that could save up to 40% in hardware and software investment, 31% in personnel costs, and up to 80% in energy consumption.
In addition to helping to make access to information more flexible, company employees do not have to be in a specific place to access key data.