Making better and faster decisions is easier said than done. With Cloud BI, it is now easier than ever.
Cloud BI has been around for a few years but is now making moves in the wider business intelligence market due to the low barrier costs and high success with medium sized businesses. The growth in this sector is helping push the growth of the wider market. MarketsandMarkets report that the global Cloud Analytics market is expected to grow from $5.25 billion in 2013 to $16.52 billion by 2018.
A recent post in NetMediaBlog mentions that “The main purpose of Business intelligence is to support decision makers in providing the best information, at the right time… If a whole workforce has access to data, it will give results in more value to the organization.” Cloud BI can provide this at this level as it is accessible anywhere from the web on a number of different devices.
A number of BI thought leaders have touched upon Cloud BI recently. Firstly, Roman Vladimirov (@Rvladimirov) says in SmartData Collective that when BI tools are sold through the cloud “deployment is quicker and more flexible than ever.”
Additionally, Gadi Yedwab (@GYedwab) concludes in his post “Using Cloud BI solutions can greatly reduce costs and improve your users’ experience, and can be accomplished without sacrificing data security.”
There are many different approaches of getting critical information to the business user as Forrester Analyst Charles Green (@cgreen0) agrees in ComputerWorldUK. “The ability to effectively extract, analyse, and interpret vast quantities of data has simply become critical to business strategy decisions, yet the large number of analytics technologies has left planners of BI confused as to which technology should be adopted and for which scenario.”
Cloud BI is being seen a better alternative to traditional business intelligence due to speed and functionality benefits and allowing businesses achieve a competitive advantage in a more cost effective way.