In a world where data has become the currency of choice for businesses big and small, organizations are competing against one another to collect and analyze huge volumes of data. The Cloud has become a critical enabler in the process of Data collection and analysis. Cloud-based Business Intelligence (CBI) is the umbrella term for a collection of internet-based services, platforms, and applications that allow businesses to leverage large consolidated databases of data via the web and apply advanced business strategies to that data. Some examples of cloud services are Salesforce, Oracle, IBM, and Heroku. But why are businesses adopting Cloud & Business Intelligence tools? Read on to find out more.
– Centralization of Data
Gone are the days when the company’s data was stored on a dedicated IT infrastructure, and nowadays, all the data is stored in the Cloud. The Cloud is a technology platform, just like a utility network (utility companies use this term to describe the fact that they provide power to people and businesses through a virtual network) or a digital appliance (Netflix uses this term to describe their system of downloads). The Cloud serves a number of purposes for organizations, including helping business information move quickly between the individuals who need it and those who have access to it, providing end-to-end data security, and simplifying the management of company information.
– Leverage Data into credible Information
The centralization of data makes it possible to leverage massive amounts of data into usable information. The Cloud effectively allows all the disparate parts of a business to become unified. This is because the Cloud holds the data for each business component, such as customer lists, internal systems, and so forth. By unifying all of these disparate components, business intelligence is able to take all the pieces of a company and create a cohesive picture of how the company functions.
– Delivers Intelligent Solutions
The Cloud can be used to not only optimize the delivery of information, but also to improve the way that information is gathered and aggregated. With the Cloud, information from multiple sources can be combined in order to create richer, more meaningful insights. This allows companies to take on a greater number of challenges and become far more versatile in their approach to business.
– Integral part of IT system with Efficient Results
Perhaps the most important aspect of using the cloud software is the fact that the Cloud itself is becoming an integral part of many companies’ IT systems. By using the Cloud, companies are able to save money on IT infrastructure costs. Many IT departments have already adopted the Cloud in order to improve the efficiency with which business intelligence solutions are collected, analyzed, and delivered.
– Reduction in IT expenses & Quick Analysis
When various organizations adopt Cloud solutions, they discover that they can greatly reduce their IT expenses while dramatically increasing their internal productivity. By allowing analysts to take their information directly back to the desk, analysts will have instant access to business intelligence data and can make a quick analysis. By taking all of this data directly back to the analyst’s desk, analysts can make intelligent decisions about what actions to take in a timely manner. Along with all this information going back to the analyst’s desk, other intelligence streams come into play. Some of these streams provide data feeds from customer service, finance, and human resources.
Integrating Cloud and business intelligence solutions is only the beginning of what makes businesses better. In order for the Cloud to work, the organization must have an expert IT team in place to manage the implementation and the compliance requirements for Cloud and business intelligence solutions. The Cloud can be used to not only optimize the delivery of information, but also to improve the way that information is gathered and aggregated, and used in a better manner.