Making the Perfect BI Move
90 percent of the sales and marketing teams of organizations across the globe have started to believe that cloud-based Business Intelligence(BI) technology is paramount in managing their strategies and it can also be helpful in garnering better results. The adoption of BI has thus exploded in the recent years, but many SMEs are still lagging in taking BI initiatives.
Many researchers say that almost 45 percent of businesses lack capabilities in their businesses while only 6 percent of them are opposed to this new technological change. 50 percent of the SMEs rated their use of BI strategies to be below average, and many of them are still devoid of cloud solutions for any of their BI and data management programs.
There is no doubt that cloud-based BI can help organizations solve millions of data management issues faced by businesses today. But technology can be fruitful only if used correctly. Businesses face challenges in adopting cloud-based BI such as:
1. User proficiency: Companies are relying more on massive data to manage different business functions including marketing. To this end, they require larger storage capabilities and seamless access to information. But many times switching an operation to a cloud-based business intelligence system can become a cumbersome process.
2. Data governance: Companies are dealing with huge amount of data which has made way for stringent regulatory requirements. With legal issues around the corner, businesses are required to have an efficient data management system to meet the necessary compliance mandates.
3. System Agility: BI solutions are evolving at a fast pace with advancements in technology. Businesses need to change their systems from time to time to cope up with the competitive market, which many a times becomes difficult for them.
There are many such impediments that organizations are trying to surmount when it comes to adopting cloud-based systems. But at the same time it has also become necessary for them to buckle up to keep up with the advancing tech world.