The world has undergone profound change over the past few decades. This change, or evolution, has been the most evident in the business world; today, a business is no longer associated with factories or people sitting around listlessly in offices. Today, they are the epitome of advancement in every possible aspect, including how they operate. And reasonably so, after all the kind of efficiency and the levels of productivity businesses strive for is unprecedented. However, a lot of them have surmounted this challenge by embracing modern technologies, especially cloud business intelligence.
You see, cloud business intelligence solutions, which is a mix of cloud computing and enterprise resource planning, has proven to be a highly valuable resource, empowering businesses to achieve extraordinary levels of value and proficiency. And it does so utilizing elements like predictive analytics, extensive data discovery, and data visualizations among other things. Cloud business intelligence also helps businesses leverage a modular strategy, thus empowering them to enhance customer engagement, cut down costs, and optimize their internal processes. Now, let’s take an in-depth look at some of the other benefits of this nifty resource for businesses all over the world.
- Efficient data security management: With a cloud business intelligence tool firmly integrated into the business, companies can achieve top-notch security in every crucial aspect, including data encryption. They also gain access to a world of relevant standards and features that allow businesses to safeguard their data against attacks and hackers. The providers of such solutions also adopt a variety of security measures, such as single sign-on security authentication, ISO27K standards, and more.
- Agility: One of the most significant benefits of cloud business intelligence is the agility it brings to the table. It saves companies the hassles typically associated with on-premises BI tools, i.e., prolonged procurement process, exorbitantly priced hardware, purchasing multiple software licenses, and more. Cloud-based solutions are pretty straightforward, don’t necessitate the purchase of expensive equipment, and don’t need to be upgraded at regular intervals either.
- Quick deployment: Unlike on-premises solutions, cloud-based BI tools are generally pre-configured, which translates into a short setup time. The required services are provided almost instantly and the scope for scalability is also immense, i.e., in addition to being very quick. So, instead of getting stuck with infrastructure, updates, and other things, businesses can get started on their projects pretty much as soon as they buy the solution.
- Affordable: Since cloud business solutions don’t involve additional infrastructure, licenses, updates, and more, they are automatically rendered quite affordable as compared to on-premises BI solutions. For cloud solutions, one usually pays a predetermined per hour price based on the features and performance levels they opt for.
So, as the above discussion so clearly demonstrates, companies that are looking to improve their business processes and achieve smarter decision making would do well by taking up business intelligence services based in the cloud. And suffice it to say that as such solutions continue to grow and evolve, so will their benefits to businesses all over the world.