If you’ve been in the market for a business intelligence (BI) solution, chances are you’re familiar with many on-site, hardware-based options. While hardware-based BI systems offers remarkable advantages and capabilities, there is another, less-expensive and equally powerful option: cloud-based business intelligence.
Cloud BI isn’t the perfect solution for every organization. Depending on many factors, a hardware-based system may be better for your business. To determine whether a cloud BI solution is right for you, take a look at the unique advantages, features and benefits of cloud-based systems.
What is Business Intelligence?
BI software is a powerful data analytics solution designed to meet the needs of businesses. Extremely versatile, BI offers a variety of tools that help you improve productivity and optimize efficiency, ultimately propelling your business toward future growth and success.
Advantages of Cloud-Based Business Intelligence Software
The major difference between cloud-based BI and traditional business intelligence solutions is simple: cloud-based BI is administered off-site; delivered remotely; and used, stored and implemented via the cloud. Many businesses find that this streamlined approach meets their needs and eliminates time-consuming responsibilities by offering the following advantages:
1. Data Analysis and Visualization
One of BI software’s strongest features is the capability to analyze data and present it in an intuitive format that is easy to interpret and inherently actionable. Cloud BI offers all of these capabilities – in a faster and simpler format than hardware-based options.
2. Reduced Costs
Cloud BI software is remarkably inexpensive compared to other options. You’ll benefit from these reduced costs throughout the life of the program, from purchase and deployment through many years of implementation.
Cloud BI integrates seamlessly with your data infrastructure. While all BI software collaborates with your system in order to collect, analyze and utilize data, cloud-based systems generally offer faster, more streamlined integrated processes.
Cloud BI solutions are much more mobile than their hardwired counterparts. Your team can easily access a cloud BI platform from anywhere in the world without worrying about accessibility, proximity, system speed or effectiveness.
Because cloud BI solutions are administered through a third party, you bear no responsibility for system security while reaping all of the benefits. Powerful security comes standard with your business intelligence software, lifting yet another burden from your organization.
Due to increased mobility and ready availability, cloud BI is more accessible than on-site options. This allows for streamlined workflow sharing processes and streamlined collaboration, both of which result in improved productivity.
In most cases, cloud BI software offers a vastly improved deployment process. Because the system itself is administered remotely via the cloud, deployment takes a fraction of the time compared to standard business intelligence. This results in less down time, allowing your business to transition without a major disruption to operations.
The ERP software provider handles updates, improvements and trouble-shooting for your system, which means you don’t have to worry about any system maintenance. This saves you a great deal of time, effort and hassle.
9. Increased Speed
Due to streamlined and often simplified programming, cloud BI solutions offer better speed and processing times than standard BI products.
While BI is by its nature an extremely flexible solution, cloud BI drives that flexibility to entirely new levels. You can reduce or increase your system and storage with remarkably fast turnaround times, ensuring you only pay for what you need. This guarantees you always have the functionality you need at a fair price.
In the end, the right BI solution for you comes down to your business, its data requirements and your specific organization’s needs. If you’re looking for a fast, thorough and simplified data analysis solution, cloud BI software may be the ideal option for your business. Take the next step with your BI selection project using this BI requirements template.