Reinventing a Leading Edge in Cloud-Based Business Intelligence

By CIOReview | Monday, August 8, 2016
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Few years ago, cloud business intelligence (BI) emerged as a technology that enterprises could hardly understand. However, within a considerably short span of time, cloud based BI has successfully transformed into a form of innovation that is ready to be injected into the workforce. Traditional BI solutions are not flexible and reliable enough to keep moving with the high paced online data operations. To overcome the hurdle, real-time capability has emerged as a valuable and transparent solution, forcing cloud-based BI platforms to develop from the complex IT infrastructure, resulting into a groundbreaking victory.

The Vitality of a Cloud BI

Cloud based BI stages a rich and stringent data visualization framework that depends on the dynamic dashboards, portraying the details of valuable data. Interactive dashboards display a company’s data in a highly accessible and user-friendly manner. They offer the users an opportunity to create a simple interface which can be accessed and modified virtually from any part of the globe. The dashboard’s on-demand metrics display the organization’s market performance and also enlists the names of customers on the same page. Enterprises will gain the ability to watch themselves innovate with time, modify strategies and forecast future scenarios.

So, Why Should I Opt for a Cloud BI Over Traditional On-premise Solution?

If enterprises across the globe find their traditional SaaS BI mediocre or limited, it is time for them to recognize the different ways in which a cloud solution can be helpful. Presenting a detailed synopsis for organizations, we have come up with the following points:

  • Costs or Initial Investments

Cloud business intelligence happens to be economical, easily deployable and a technology that produces high Return on Investment (ROI). Additionally, the total expenditure is always quite low due to the absence of hardware.

  • Scalability and Reliability Factors

Data on cloud BI are stored in multiple and secure locations, staging an ideal scenario for recovery at any point of failure, thereby maintaining business stability. Cloud solutions also support a numerous simultaneous users excluding any form of delays or additional costs.

  • Free Maintenance and Automated Software Updates

As the cloud BI service provider owns, manages and hosts the software, enterprises need not worry about additional maintenance and expenditure of IT components. Adding to the overall benefits, they also provide automated software updates on a regular basis.

  • Implementing Timely Performance Boosts

Utilizing the on-premise software and hardware resources, users have the facility to effectively augment the warehousing abilities without creating any impact on the daily operations.

How to Adopt a Robust and Successful Cloud-based BI?

Before initiating a BI project, it is always a wise option to ensure that the company’s valuable resources, time and budget is reserved for a BI solution that will be used by your external and/or internal stakeholders. Focusing on the various aspects of gaining deep insights, it is always recommended to view the product demos as early as possible during the evaluation process.

Furthermore, visualizing data in the form of graphs, tables and charts proves beneficial. This also includes evaluating the interactivity of the metrics and reports. Companies need to determine the exact amount of IT support needed for the users to get acquainted with the product. Also, it is crucial to know if they have the ability to create and handle the reports.

The Value of Time

When it comes to the process of managing business operations, time is always considered as a vital factor. Some solutions working on the complex integration of diverse data sources might take a long time to process. So, while employing the BI vendors, companies should confirm if the solutions they consider are capable of delivering the valuable results within a specific timeframe.

Transforming Cloud BI into a Flexible Platform

There will be a time when the business may expand and enterprises will face the need to incorporate more data in their BI solution. The data may be derived from more customers, employees, or  extended areas of your business. It is crucial to understand the fact that the solution adopted can be made as flexible as their business. This can be made possible by processing additional data, adding new sources, modifying the reporting criteria, or incorporating important updates.

Service Assurance

With an aim towards experiencing numerous benefits, organizations need to make sure that the services offered by their BI vendor will be available 24/7, what kind of technical support is offered and when. In case the vendors are willing to sign service level agreements (SLAs), it is advisable to review the process of data management and security. Finally, companies should visualize how the product will develop over time and deliver substantial value to their growing business.

Cloud based BI has the potential to revolutionize the traditional BI strategies and analytics of enterprises by facilitating the users with real-time exposure to critical data. Establishing a streamlined approach and comparing each BI vendor in terms of reliability and efficiency will lead a path to success.