With COVID-19 spreading throughout the world, organizations will continue to encounter unprecedented times in the months ahead.
As stock markets fluctuate, supply lines strain, consumer confidence and disposable income wane, and eventual recovery looms there is a lot of uncertainty and complexity. Dealing with complexity requires the ability to make sense of voluminous data at scale and at speed to derive meaningful insights.
There is a significant competitive advantage in leveraging advanced analytics to analyze multidimensional data. We anticipate a great need for next-generation Online Analytical Processing (OLAP) technology like what UST Global company Qubz™ provides, so organizations can operationalize Big Data to derive more valuable insights.
Qubz™ drives significant business outcomes by delivering Business Intelligence that’s actionable, cost-effective and efficient. Companies faced with the “New Normal” should embrace operationalizing Big Data Analytics through multidimensional online analytical processing (MOLAP) to realize substantial cost savings without compromising.
Connection to Multiple Warehouse Technologies
The next few months will require every tool in an organization’s toolkit, none more critical than the data it collects and manages.
By having data scattered across many disparate, distributed systems, organizations create an unnecessary and cumbersome data engineering problem that removes focus from other priorities. If your organization hasn’t already established a virtual data environment, now is the perfect time to accelerate such a move to enable predictive insights.
Gaining an immediate, real-time view across all of your critical systems, and combining these views with next-generation online analytical processing MOLAP technology to amplify productivity and accelerate insights, is valuable at any moment in time. But when you are able to analyze data and make more informed decisions quicker, you have a considerable competitive advantage at a time where your competition may either be risk averse or lack a complete picture. Real opportunities become clear for smart companies with advanced analytics in a time of crisis.
What Sets Qubz™ Apart
Traditional OLAP technologies do not meet the demands of large volumes of data, consequently limiting the insights enterprises can derive. The MOLAP enterprise solution from Qubz™ lets organizations ingest, catalog, and secure petabytes of data. This significantly reduces time to insights, while also lowering cloud compute costs significantly.
In 2020, companies will especially gravitate towards any technology that will increase effectiveness and decrease costs. Qubz™ enables enterprises to operationalize analytics at scale and at considerably lower costs as compared with traditional analytics products. Qubz™ was built to simplify complex data engineering and reduce the time to value of analytics.
Efficiency and cost savings are achieved when organizations move from expensive and laborious extract, transform, load (ETL) database management systems to a self-serve model. Qubz™ is custom-built for the modern analytic workloads and can lower the total cost of analytics by up to 50%.
China has begun to restart its economy. Though they detected their respective first cases on the same day, South Korea’s quick actions have left them comparatively unscathed by the Coronavirus outbreak versus the United States’ long road ahead. Italy continues its long battle against the pernicious virus. Coronavirus does not respect borders and each nation’s response will have cascading effects on its neighbors and the global economy. Companies that survive and thrive during this time will prosper thanks to next-generation data analysis operations that can cut through the noise to determine what actions to take and, more importantly, where.
As supply and demand oscillate widely, quicker access to data enables a more comprehensive picture of customer needs. Organizations must make tough decisions (e.g. whether to pursue top-line growth or engage in cost cutting) quickly to derive any benefits from seeing an opportunity emerge before the competition. Any decision will carry risk, but a pandemic is the worst time to go with one’s gut. Only through the ability to analyze petabytes of data in milliseconds (all at a significantly reduced cost) will organizations have a comprehensive picture of the state of play.
There are merely some top-line examples of how MOLAP technology like that provided by Qubz™ can help organizations harness and capitalize on the operationalization of Big Data Analytics. Through multidimensionality, Qubz™ most importantly provides faster access to more complex data, integral to an organization’s ability to make instantaneous decisions that can help them weather the ongoing crisis while opening up avenues for opportunities.