Cloud computing is changing the way businesses operate in many ways and the role Cloud BI has in revolutionizing how businesses analyse and find value in data is equally as disruptive if not more.
Google, Amazon and many more multinationals already have the majority of their IT in the cloud to save space, time, power and money as detailed in this article.
Cloud BI have helped analytics tools become more widely available for more businesses and there are many benefits to having these at your disposal.
Here are three quotes from different articles explaining typical benefits.
“Introducing data analysis tools into your SMB could give your company a significant advantage. These tools help executives and employees to gain deeper insights into the real state of their business and market. They help them to improve operational efficiency and plan future business strategy” says Sharon Hurley Hall (@SHurleyHall) in this blog post.
“Analytics is clearly delivering real benefits to businesses. Some obvious benefits are in areas such as sales and customer service reporting. An analytics-centric environment could see crucial reports being readied in a day or less, compared to 10-14 days” says Paul Mah (@paulmah) here.
Traditionally, business intelligence and analytics tools have been known as expensive and come with a high failure rate but Cloud BI has changed that. Giving users information when and where they need it in a more cost efficient and self-service manner can bring the benefits of analytics to many more companies. This Harvard Business Review post agrees and suggests a self-service approach would be more successful. “Business users need increasingly fast, broad, and flexible access to data. With more flexibility and less bureaucratic overhead, users are able to be more innovative, more efficient, and are typically much more satisfied as well.”
This isn’t the only article that sings the praises of self-service tools that are pervasive in most Cloud BI tools.
SearchBusinessAnalytics states “Self-service software offers plenty of potential business value and should be part of a BI portfolio” and Information Management declares “Usability is the top purchase consideration for business intelligence software.”
But what about the security of my data with Cloud BI? It’s a common question that gets asked regularly. Because of economies of scale in large data centers the level of protection is higher. This piece explains it in a nice way – “Cloud computing offers a level of security that an on-site server or a locked file cabinet cannot begin to approach.”
So as analytics becomes more widespread in businesses around the globe we beg the question, what is the role of Cloud BI in your business?
If you’d like to know more about Cloud BI, register for our free webinar: 8 Ways Your Company Can Streamline Reporting With Self-Service BI.