In today’s era of technological innovations, business players are relying more on data to stay ahead of their competitors. Data warehouse as a service helps companies to be agile and stay ahead of their competitors. With the advent of cloud computing technology, the need of data warehouse as service is increasing further. Some of the other factors likely to influence growth in the data warehouse as a service market are stated as below-
• Increase in private cloud adoption is one factor that is driving the growth of the global data warehouse as a service market. Some of the other factors boosting the data warehouse as a service market are advanced analytics, increased adoption of column-oriented data warehouse, and proliferation of data.
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• Data warehouse as a service helps in efficient management of data as compared to a local set up. Additionally, it helps business owners to fetch information easily and manage them efficiently. This is driving the business owner to adopt data warehouse as a service.
• Moreover, data warehouse unburdens business owners from downtime required for updating software. Along with this, it helps businesses to access information from remote location as well. All these advantage of data warehouse as a service is expected to add gains in the market.
• On the flipside, the unwillingness of several businesses to shift from conventional ETL tools to cloud is one factor which could hamper the data warehouse as a service market.
• Apart from this, compromised data security of cloud computing is projected to pose a serious question on the adoption of data warehouse as a service. This is because data in data warehouse is stored in a single repository. This could hinder the growth of the data warehouse as a service market in future.
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• However increased adoption of data warehouse as a service by end-use industries such as banking, financial services and insurance is likely to offer lucrative opportunities to the market.