Several business organizations today are looking forward to re-evaluating their operations and infrastructure with an aim to provide faster and more flexible solutions. Cloud services are being implemented on a massive scale, from automating the workforce to sales and enhancing the customer experience.
Probably you must have heard about Business Intelligence that helps enterprises to optimize their process and make strategic decisions to reach new levels. But what if the power of cloud computing gets combined with business intelligence technology? Yes, we are talking about Cloud BI, which has now moved on from just being a technological innovation to a vital business requirement.
But before we move on to discuss the various benefits of cloud BI solutions, let’s just get a brief introduction to it.
Cloud Business Intelligence (BI) is defined as hosting business intelligence analytics on a virtual network such as the internet. The organizations are moving to Cloud BI to access data for sales, marketing, finance, and HR. It also offers BI-based data such as dashboards, key performance metrics (KPIs) and other business analytics.
We are also witnessing a growth in the use of cloud-based tools such as CRM applications, salesforce, file collaboration, and storage such as Dropbox, and Zendesk for customer service. All these tools have been providing accessibility to the cloud.
Even the stats indicate that there has been a significant increase in the number of Cloud BI adopters. For example, Cloud BI adoption is enhanced from 29% to 43%, in which 50% of the organizations are prioritizing the public cloud to deploy and manage data.
Let’s Highlight the Major Benefits of Cloud-Based Business Intelligence
The advantage of having a cloud-based BI-platform is that you don’t need to invest in any additional expensive hardware or software. It means you can easily manage your budget estimate. You also need to note that procuring, setting up, and management of the cloud is simple. Apart from that, you can also implement the BI services at a quick pace, which requires a small budget in comparison to traditional BI solutions.
Faster Implementation Time
In a traditional approach to implementing business intelligence solutions, the developers were required to establish and set up a full ecosystem. Also, the business enterprise required to hire a team of professional experts to manage everything.
However, Cloud BI has changed the entire scenario. The organizations don’t need to devote much of their precious time, energy, and money on setting up the complex infrastructure. They also don’t have to think about system maintenance as well. Besides all these adding new features into the application has become much easier according to the business requirements.
Ease of Use
This is one of the most impressive benefits of Cloud BI where users can BI from anywhere and at any point in time. For example, you can access BI from your laptop or mobile device. You can even extract your business reports and collect insights without relying on any other external application. The cloud BI presents the data and insights in the form of diagrams, charts, and decision trees, which makes it simpler to view the stats related to sales, marketing, and customers.
If you are using cloud-based business intelligence, you can be sure that all your business analytics and enterprise data is stored in a single location. Cloud BI also prevents any duplication of the data. The result is that the volume of data gets reduced, while its quality is improved. It allows business stakeholders to get a much better view of important insights through a single data source.
Some people have a misconception that cloud-based BI solutions are not secure. Well, it’s not true at all. The cloud analytics solutions provide a plethora of benefits such as data encryption, data segregation, security patches, and multi-tiered catching, etc. in addition, it also offers more advanced protocols such as voice recognition and fingerprint authentication to ensure complete safety.
Easier to Integrate
The inclusion of business analytics with the cloud has made it much easier to integrate the BI platform with other programs and databases. It makes the data free to flow with ease. The enterprise has also identified the potential of social networking data, which enables users to create “sentiment analysis” using real-time social media data.
Cloud BI – One Solution With Varied Potential
Cloud BI has moved on from just a cloud computing service, which has allowed business enterprises to lower their costs, speed up deployment, and ease up usage. Cloud technology is not only advantageous for BI solutions but also proves effective for data warehousing and analytics.