Understand how Cloud Computing helps instill insight into your business
Cloud Computing — and, as we’ll see, Cloud BI — has revolutionized the way companies handle their information, analysis, and data structure. Its main function is to integrate cloud-hosted applications with on-premise applications. According to IDC consultancy, this market will move $ 43 billion by 2020.
With a greater number of applications and information stored in the cloud and the need to integrate this information, the concept of Cloud BI, which moved from more than US $ 38 billion in Brazil in 2017, was born. It is based on cross-generating business insights without using a local Data Warehouse framework.
This feature gives managers greater freedom in analytics and insight generation. This happens because such solutions generate a more intuitive and easy view of information without requiring the intervention of internal IT teams to manage data or tools.
Keep reading and find out the power of Cloud BI to generate business insights!
Agility in implementation
One of the biggest obstacles to adopting Data Driven strategies in organizations has always been the cost and time to build an IT infrastructure.
The need for robust systems for data collection and analysis — in addition to the implementation time and the return on investment of these solutions — used to mean that managers in several areas did not have a real perception of their strategic return.
Therefore, one of the key benefits of using Cloud BI to generate business insights is to decrease the time to implement this type of solution, as well as to quickly verify its impact on the company efficiency.
With the rapid deployment of such systems, you can quickly calculate the impact they generate on business decision-making, as well as your effective return on investment (ROI) for the business.
Thus, using strategic planning, it becomes more feasible to adopt other management models and data-driven technologies, which can bring more efficiency and competitiveness to processes, such as Artificial Intelligence, Machine Learning, Cognitive Analysis, Chatbots, and Internet of Things (IoT).
Accessibility to data
The concept of the “global village”, coined by the Canadian philosopher Marshal McLuhan in the 1960s, has become a reality with the rise of the Internet and the overcoming of geographical barriers, both in intercultural relations and in business management.
Today, to ensure business competitiveness, strategic business information, such as financial charts, stock levels or product delivery times, must be accessed in real time and remotely. This makes decision-making more assertive and responsive to managers in many areas.
According to the IDC consultancy, around 33% of Brazilian companies already consider using Cloud Based solutions — in which reports, insights, dashboards, among other data are available in an integrated and accessible way from any device connected to the web — is a crucial factor in ensuring success in your business.
Cloud BI Flexibility
In 2013, the Federal Data Processing Service (Serpro) launched the first cloud computing service to serve various sectors of the Federal Government. Among the services included there were ombudsman systems, health management, education, and communication.
One of the key benefits of creating the service was its flexibility in integrating different data and creating new features with much more agility than on local servers.
According to Serpro, the implementation time of solutions, which could take up to eight weeks with the use of local servers, decreased to five minutes, through the adoption of Cloud Computing.
According to information from Business Intelligence And Analytics In The Cloud, 2017, published by the American magazine Forbes, the main reason for small and medium enterprises to adopt Cloud BI and Analytics solutions (around 46%), in addition to all the benefits generated by traditional business intelligence solutions, is the flexibility they provide.
This percentage is closely followed by the reduction in the maintenance of software and hardware structures, around 43%, and by the decrease in the aggregate costs of these systems, on average 38% of the managers surveyed.
Therefore, the adoption of Cloud BI in business management provides flexibility, agility, and affordable cost to the adoption of a Business Intelligence solution, in addition to optimizing access to strategic information for decision making by the different employees of the company.
Scalability in business
According to the IDG survey on Cloud Computing and Data Analytics, for about 60 percent of US companies using cloud computing, the biggest advantage in adopting these solutions is scalability in data analysis and the increasingly complex insight generation they provide.
This means that even if a company decides to expand its business, modify its strategic planning or create areas of action, the flexibility promoted by Cloud BI platforms accompany and cooperate for this development.
Competitiveness and efficiency
According to the “BI and Data Management in the Cloud: Issues and Trends” Research Study, published in 2017 by the Business Application Research Center (BARC) in association with the Eckerson Group, about 25% of US companies are already deploying Cloud Based solutions in their organizations. In addition, another 28% are considering such systems as alternatives to their Data Analytics departments.
Still, according to the study, about 50 percent of companies using cloud computing are also using these platforms to store different types of data and perform custom data cross-referencing.
Research by market research firm Vanson Bourne also shows that companies investing in digital solutions for business intelligence and Analytics, such as Cloud BI, can reduce their costs by around 62% and increase their productivity level in about 85%.
These are some of the key advantages that a Data Driven management, based on Cloud Computing, can generate for your company. However, it is important to note that in order to extract the best insights from this data, it is necessary to choose a suitable solution for your type of business, as well as a reliable supplier for it.
Did you understand how Cloud BI is important to analyze data and generate business intelligence for your company to be more competitive? So, get in touch with us now and get to know our solutions!
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