In today’s post-pandemic operations, leaders are under increasing pressure to make decisions at speed and scale — and collaborate in real-time to adapt to change. A recent report revealed a whopping 89% of UK business leaders said without leveraging the cloud, running their businesses in the pandemic would have been impossible.
Despite this trend, many companies are still struggling to leverage their data in the cloud, limiting their progress to reach their full potential. Realising the impact this can make to the bottom line, the question for these companies becomes: “What next?”
The answer is “cloud-first analytics.” The recent rise of cloud data warehouses, like Snowflake, allows businesses to better leverage their data by using Sisense seamlessly with products like the Snowflake Cloud Data Platform. Infusing cloud-first analytics changes the way businesses accomplish their missions and can even save lives.
Scalable cloud solutions: the future for data analytics?
Current, on-premises data platforms are not yielding optimal results for businesses. Their limitations include complexity, lack of scalability/inadequate elasticity, rigid monthly costs regardless of use, inability to consolidate siloed data, and an inability to share data inside and outside the business.
Experts agree cloud data platform solutions and their applicability across use cases and locations have grown as an alternative to costly on-premises solutions.
Free, fast movement of data between organisations, locations, and applications is key to enabling fast decision making. Previously, this would be done via high-latency file transfers, which constrained options for builders and reduced efficiency.
A cloud data platform means real-time data can be shared, governed, and access can be controlled for authorised parties. The cloud data platform enables a data marketplace where organisations can obtain secure and governed consumer and government data, such as COVID-19 data, to make timely decisions in challenging times.
As a result, many organisations are able to infuse external data into their own data in real-time to forecast business impacts, predict supply and demand, apply models, and aggregate to predict the spread of the virus. In short, cloud data warehouses and business intelligence (BI) platforms have revolutionised the way organisations share and use data.
This ability to pull data sets together from a cloud-native environment for better transparency and faster decision making, in turn, can give analysts the speed they need to answer questions quickly and more accurately with more data collaboration.
Bigger cloud-native data sites, deeper more actionable insights
It used to be a challenge to order and structure data to get basic answers. Data volumes have grown exponentially, not just in volume but in different systems, making it difficult to visualise whole data insights.
Now, we are all dealing with uncertainty and the unexpected as world economies change and shut down, and how people are behaving shifts. Insights from other data sets, such as location data, in the past were very difficult to incorporate quickly.
Using a cloud-native data environment, we can take business data and join it together to build a better business health score, and to see what customers might need the most outreach at this time.
A cloud environment is designed to bring data together and serve it back through dashboarding. This enables the data to transform without moving it, join it to other data internally or externally, and compute that data and augment it, and write all of it back to Snowflake using Sisense.
This builds reusable artifacts that power ad hoc analysis, and also serves that data into reporting to send to teams and models. It doesn’t require extra resources, physical infrastructure, or teams to make it work.
Using data to drive a competitive edge and build resiliency post-pandemic
Experts agree, everyone in the current climate is looking at what they can learn from their data, to see how they can best serve their customers and look at answers to questions they haven’t even thought to ask yet.
Companies that do it well are more successful in the market than those that don’t. Companies that use data effectively have 18% higher growth margins and 4% higher operating margins, according to Keystone Research.
For example, Sisense customer and OVID-19 rapid response provider HealthReveal, is leveraging data from claims and health records, and feeding it through a clinical algorithm to help health care providers with personalised recommendations for patients.
They are using clinical AI to provide risk scores to patients to prioritise outreach to high-risk patients and reduce the burden on ICU beds in the US. Without cloud data, HealthReveal wouldn’t be able to do this as fast as they can.
Another Sisense customer, digital health company Luma Health, was able to leverage data analytics to reexamine its product metrics across the board, and effectively track healthcare providers’ interactions with over 10 million patients. With Sisense, the team was able to uncover important actionable patterns from their data on scheduling, medical records management, and patient behavior amidst the COVID-19 pandemic, driving faster and more actionable healthcare decisions.
Building resilience beyond the pandemic
Businesses have the ability to do more with data than ever before. They can make better decisions at speed and scale, and answer questions not yet realised. In an uncertain business environment, a flexible and fast data environment with accurate recommendations and data-driven next best actions, can make a significant difference to businesses looking to strengthen for the future.
Sisense goes beyond traditional business intelligence by providing organisations with the ability to infuse analytics everywhere, embedded in both customer and employee applications and workflows. Sisense customers are breaking through the barriers of analytics adoption by going beyond the dashboard with Sisense Fusion – the highly customizable, AI-driven analytics cloud platform, that infuses intelligence at the right place and the right time, every time. More than 2,000 global companies rely on Sisense to innovate, disrupt markets and drive meaningful change in the world. Ranked as the No. 1 Business Intelligence company in terms of customer success, Sisense has also been named one of the Forbes’ Cloud 100, The World’s Best Cloud Companies, five years in a row.