5 Great Reasons Why You Should Invest In Cloud BI
So much information, so little time. You have a business to run yet it seems to much of your time is taken up with data munching and mouse clicking trying to put reports together that will help you manage your sales, supply chain, finances, and operations. Could Cloud BI help?
Your information is scattered throughout multiple databases and spreadsheets. Some information can only be accessed by one of the guys in IT, who happens to be out sick today.
You’ve considered a business intelligence solution but:
- It costs loads.
- It could take months and months to implement and have 70% chance of failure.
- It is so complicated to use it’s easier to do it the way you are already doing it.
You are back where you started.
There is a way out of this. There is a way to have a business intelligence solution without the expense, wasted time, and high risk of failure…by taking advantage of Cloud BI.
Why try Cloud BI? Let’s take it one reason at a time.
As mentioned before, information exists across various systems, spread sheets and sites, none of which feed into one main point-of-truth, much less come integrated and collated. Tying up human resources just to track down, put together, manipulate, and report company data that is supposed to support day-to-day business decisions keeps your business from meeting customer expectations and revenue goals.
Business information is spread out among multiple owners creating bottlenecks that slow reporting further. Not only that, but it exists in so many different formats there is no way to integrate the data easily much less make it available to everyone who needs to access or manipulate it.
At the end of the day you don’t have the information you need at the time you need it to make decisions and take action to keep your business ahead of your competition. Information that is a month old is sadly out of date. There is no way to nip a bad trend in the bud if you don’t act until it has flowered.
Cloud BI Solutions Support Good Business
Cloud BI solutions are built to take care of this sort of thing. A good Cloud BI solution can take all the information that exists in all those places, pull it together, integrate it, collate it, and send out a report with up-to-the minute actionable data. Managers can consult custom dashboards to check everything in real time, not past time.
Imagine tracking sales of a specific product broken down by end user market, sales representative, geography, color, size, supplier, time of day, or year-on-year. How would such information impact your decisions on ordering and supply chain activity? This type of information can help you make inventory and pricing decisions on the fly if needed, responding to your fast moving business environment No more out of stock or product languishing in the warehouse. What is that worth to the bottom line?
On-premise solutions carry costs that impede mid-sized businesses from using not just business intelligence solutions, but helpful software of all kinds. IT infrastructure and staffing costs on top of maintenance and upgrades make even the simplest solution cost prohibitive.
Those costs go way down with Cloud BI solutions. IT infrastructure is reduced. Maintenance and upgrades are part of the Cloud BI package and so are eliminated as separate and sometime unpredictable expenses. Offered as a subscription service, costs are predictable and controlled. Add to that the resource and infrastructure savings and the cloud becomes even more attractive.
Secure and Mainstream
Cloud BI is no less secure than on-premise. In fact, it seems that twice as many attacks are aimed at on-premise solutions as cloud providers. In some circumstances the cloud may be much more secure than your on-premise IT security. Matillion, for instance, uses encryption that exceeds banking standards. Another expense and worry off your plate.
In addition, Cloud BI solutions are no longer the new kid on the block. Gartner says cloud services’ spending is expected to grow by 17% annually over the next 5 years. Of their surveyed clients, over a quarter are moving more than 40% of IT operations to the Cloud by as early as 2015. Only 3% were not implementing cloud in any way.
Cloud BI services are also ushering in mobile capabilities more quickly than on-premise, a terrific boon to today’s highly mobile workforce.
As Cloud BI is software-as-a-service (SaaS), there’s little point in talking ROI. You pay as you go, so there’s no large up-front investment to get a return on. That doesn’t mean every pound or dollar you spend doesn’t benefit though.
According to Nucleus Research the average ROI just for report automation through a business intelligence and self-serve offering is 188%. With BI deployed across most of the organization the average ROI grows five times larger to a whopping 968%. These numbers seem pretty high and should perhaps be taken with a degree of caution, but if there’s element of truth in them, then Cloud BI pays.
Low cost, rapid returns, real-time, actionable information, and good-looking to boot. Cloud BI brings reporting down to earth where you can use it anytime, anywhere.
Find out more about Cloud BI and download our free E:book below.