Why you need cloud-based business intelligence (BI) solutions
This is a technology-driven softare that allows businesses to analyse data from a range of sources, creating easy-to-read graphics and reports as a way to make informed decisions for the future. Cloud-based BI – or Software-as-a-Service (SaaS) – solutions make this process even easier. Here’s how.
What are cloud-based BI solutions?
Cloud-based BI solutions are essentially business apps that are hosted on virtual networks. They allow the right people get to the right information in the right format. There’s no additional hardware needed for cloud-based BI, making them easy to implement and run. Using real-time data and predictive insights, cloud BI allows your business to quickly address any challenges and take advantage of opportunities. While cloud-based BI was primarily used by smaller companies a few years ago, it’s become more mainstream through its many advantageous features, and companies of all sizes are embracing the cloud.
What are the benefits of cloud-based BI?
The reason so many companies are implementing cloud BI is that it brings all the associated benefits of a BI solution with the added features of cloud. Here’s a look at some of these.
Ease of integration and deployment
This is an internet-based software which makes installation quick and easy. Cloud BI can also be integrated with other business programmes and databases, with more sophisticated options even pulling real-time social media data for enhanced insights.
Ease of use
Unlike previous formats, cloud BI can be used by almost anyone, and doesn’t require specific IT technical know-how. Businesses don’t have to worry about the hassle and expense of hiring a team of experts and installing expensive infrastructure. Cloud BI gives you access to business intelligence applications at any place and any time. Because it’s internet-based, it can be accessed by a mobile workforce across a range of devices.
Through its superior diagrams, charts and other visual analytics – as well as the mobility of this software – BI gives stakeholders better insights into various aspects of business operations. These include sales, marketing and the customer experience, with real-time solutions ensuring a smoother flow of operations.
One of the biggest problems businesses have is the duplication of data. With Cloud BI, this is no long a problem as the system will ensure all data is stored in a single location. This reduction in the data volume, coupled with a better quality of data, makes for improved business insights.
Gives businesses the edge
In years gone by, data analysis for business insight was restricted to larger corporations with sufficient financial backing to support such operations. This isn’t the case anymore. Cloud BI allows businesses, including SMMEs, to analyse their data and get an edge of competitors. It’s a really effective way of levelling the playing field in a competitive and uncertain market.
Unlike other BI solutions, cloud BI means that businesses don’t have to invest in expensive hardware and software, or pay for ongoing maintenance. The ease of implementation of cloud-based BI makes it comparatively more affordable for businesses.
Despite growing concerns about cyber-security, cloud-based BI is actually extremely secure. This is because it comes with a range of data security protocols and features to ensure a high level of data encryption. There’s data segregation, multi-tiered caching, security patches, regulatory compliance and even fingerprint or voice authentication for maximum security.
Businesses are constantly changing. Whether they’re growing, adapting to market changes, or scaling down, no business remains unchanged for a long period of time. Fortunately, cloud-based BI is a flexible solution that adapts when businesses bring on new employees, or pivot to more remote work operations.
Canvas Intelligence is a leader in BI solutions, including cloud or SaaS. They can assess your needs to determine the best BI option for your business needs wherever you are.