Business Intelligence has been a topic of great interest to organizations that want to thoroughly transform their data analytics and gain deep insights into their business operations. However, recently there has been a new type of Business Intelligence (BI) that has organizations of all sizes taking notice, cloud BI.
Cloud Business Intelligence tools are giving organizations more flexibility and scalability than ever before, which is important as data management becomes more expansive with each new piece of data collected. Cloud computing has been a significant asset for businesses.
Cloud-based Business Intelligence solutions are no different. This post will explain what Cloud BI tools are, why they are important, and how they can benefit your business.
What Is Cloud BI?
Business Intelligence tools help organizations gather data from disparate sources, collate it into a single source, and then analyze it and provide actionable insights.
Cloud BI solutions function similarly except that they are hosted offsite instead of being hosted on-premises. Cloud BI software enables organizations to access data remotely wherever they have a stable Internet connection.
Cloud computing is nothing new to organizations. Many companies prefer to use cloud-based solutions for customer relationship management (CRM), accounting, and ERP software. Therefore, it makes sense that organizations would want to explore cloud BI solutions too.
The core philosophy of Business Intelligence technology is getting the right information to the right people at the right time. Cloud applications are better suited to accomplishing this than any other type of software.
As a result, cloud BI tools have proven to be the most effective intelligence tools for business users, especially when utilizing cloud data warehouses and other cloud-based computing resources.
The Benefits of Cloud BI Software
If your business is considering a Cloud BI solution, it is helpful to understand the benefits of choosing this type of approach. The primary benefits of cloud BI software include the following:
- Simple deployment
- Mobile access
- Automatic updates
- Cost effective
Cloud BI software is easy to deploy and enables businesses to hit the ground running without waiting for IT experts and time-consuming configurations. Cloud applications don’t require installation since they are accessed through the Internet.
As a result, deploying cloud-based BI solutions is quick and easy. This means your business can start the data integration process and begin to analyze data immediately without having to install the software throughout the organization and configure it to meet the specific needs of your hardware.
Cloud BI software can be accessed from anywhere with a stable Internet connection. With the rise of remote work and the fast-paced modern business environment, remote access to BI tools is vital.
Unlike traditional Business Intelligence solutions that are hosted on-premises and require specific hardware, cloud BI software is not limited to on-site computers and servers, and users can access these tools with their smartphones.
As we mentioned earlier, the driving philosophy behind BI is delivering the right information to the right people at the right time. Mobile access is critical to accomplishing this feat. Cloud BI enables key stakeholders and business leaders to get data insights anytime and anywhere.
Cloud BI software does not have to be manually updated. All updates are handled automatically by the service provider. Your organization doesn’t have to spend time updating every instance of its software or reconfiguring it to make sure it remains compatible with its cloud data warehouse.
Cloud-based BI tools ensure that the latest features, services, and security updates are immediately available to your business without the requirement of installation or even rebooting your underlying hardware.
Software is constantly being updated. For traditional on-premise BI solutions, this poses a problem. IT teams must be constantly updating all of an organization’s software on every device that it is installed on. Cloud BI software completely eliminates this need.
Cloud BI solutions are more cost effective than traditional on-premise solutions. On-premise BI software requires hardware and IT staff to manage and maintain hardware and software. These overhead costs add up.
As a result, on-premise solutions were too expensive for most SMBs to deploy. However, cloud-based solutions have provided an affordable option that works more effectively and efficiently.
Cloud BI tools have completely leveled the data playing field for smaller organizations and enabled them to access cutting-edge programs and hardware at a fraction of the cost.
Instead of being responsible for a lot of upfront costs, cloud BI enables businesses to access these tools for a fixed monthly fee without having to invest in hardware resources or hire an IT team to manage them.
One of the best facets of Cloud BI software is its scalability. Whether your business needs to scale up or down, cloud BI solutions scale easily and cost-effectively. Cloud computing is perfect for fluctuating data and user workloads.
Businesses have begun to collect more data than ever before. It is possible that your data demands could spike seemingly overnight, and without cloud-based solutions, your business will be left scrambling to scale up to meet demand.
The best part of the cloud is that your business can pay for the resources it needs to use when it needs to use them without having to accurately forecast demand. There is no better way to meet the demand of the moment than cloud computing.
Cloud-based Business Intelligence is the best choice for most organizations because it doesn’t require a large upfront investment, it scales to meet current demands, and it enables companies to work more effectively on the go.
If you want to learn more about the power of cloud computing and Business Intelligence, contact an experienced cloud app development and technology partner like Koombea.