Phi Trends: Cloud computing and big data - the way forward

Rising global digitisation due to the pandemic has been a catalyst for companies in the cloud computing and data analytics space, opines entrepreneur and investor Shailesh Dash, who shares his market perspective in this monthly column

- Shailesh Dash

The world has experienced one of its most significant crises in recent times, courtesy of Covid-19. Notwithstanding the health impact, the pandemic has provoked a massive disruption to global economic activity, supply chains and businesses. Resulting efforts to ensure survival and revive business activity have largely accelerated the digitisation of the global economy, even as governments, corporates and businesses increasingly turn to technological advancements for sustainable growth. Consequently, big data, IoT, cloud computing, and other technologies are witnessing growing prominence as the end-to-end connections that they provide across data points via universal networks are paving the way for infinite wealth pools of data to be shared seamlessly across borders. Cloud computing and data analytics technology have driven innovation across industry verticals, from e-commerce and finance to education and healthcare, enabling companies to adapt their business models to the new normal wherein travel restrictions limit physical connectivity.

Rising global digitisation has also been a catalyst for companies in the cloud computing and data analytics space, as fresh avenues provide new growth opportunities. For instance, several healthcare providers and policymakers are turning to big data analytics models to achieve enhanced care delivery, resource allocation and preventive health measures, especially in light of the pandemic. Big data analytics tools are also being used to forecast potential limitations in hospital capacity and resources.