Should your company go public?
No, it’s not about the stock market. This time anyway.
It’s about your data, and it’s important, so read on.
Many Industrial Internet companies have such vast amounts of data that storing it securely and being able to perform analytics to it becomes a crucial consideration of the data strategy. Turns out there are two main strategies to pick from, and one in between.
1 Public cloud
Storing the data in public cloud means putting all of your data into servers owned and managed by an outside company. Typically companies offering these kinds of services have vast server resources distributed globally.
2 Private data centers
This means exactly what the name suggests: owning and running data centers of your own.
3 Hybrid storage strategy
If some of your data is in the public cloud, and some data stored in your own data centers, you are following the hybrid data storage strategy.
So, which of these strategies is right for an Industrial Internet company?
Here are the most important considerations to keep in mind:
Smaller companies, which do not have invested in their own data centers, and who do not have extraordinary privacy or security requirements, might be perfectly fine using solely the public cloud.
In some instances, as in some military or governmental cases, private data center is most likely to be the safest bet.
In most Industrial Internet companies, however, some form of hybrid storage strategy might be best. Here’s why…
There are a couple of reasons.
First of all, many big companies have already invested heavily in their own data centers, and it is not very resourceful to throw all of that away all of a sudden. Instead, the existing resources should be used for purposes where they are the best (like storing historical data that has no immediate need for application.)
But how about data that needs to be analyzed very fast? In these cases it’s better to have a cloud somewhere for advanced analytics. You can transfer your data over to the cloud, perform analytics to it, and then move it back to your own data centers for long-term storage.
Cloud is also good for storing data where international privacy laws prohibit storing it elsewhere. Cloud is also good for smaller bits of data that needs to be accessed fast, like some customer-related data.
We are in the transformation period of sorts right now. Many Industrial Internet companies are awakening to the fact that their multi-million dollar investments in private data storages might not yield the kind of investment they envisioned when the decisions were initially made. For many of these companies, moving some of their data into cloud can be a very wise choice that helps them cut unnecessary costs while increasing the data security.
Our Discovery Analytics Service can offer you the best of both worlds.
If you would like to learn more about the Discovery Analytics Service for Industrial Internet companies, you can either read more about our service or contact us directly for a free data consultation. Quite often these are complicated decisions with lots at stake. We have implemented fairly advanced data storage projects, so we can have a look at your data strategy as well during your free data consultation session, if you’d like.
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