Before we dive into Cloud BI let’s look into what is Business Intelligence for a minute. In the simplest meaning, Business Intelligence is the useful data and information gathered within a business that could be processed into meaningful insights in developing the business further. In a data-driven age, almost all business processes rely on these meaningful insights gathered through business intelligence. This needs systematic methodologies to collect data and information, an accurate strategy for data analysis, and an effective interface along with the right techniques for presenting insights in an understandable manner. How far have you achieved in Business Intelligence?
Cloud-based Business Intelligence is the newest trend in business analytics. Earlier BI was based on software that is specifically installed in workstations mostly with the help of local service providers. These could be either bespoke or off-the-shelf software sometimes requiring specific hardware to function. It has always been pretty expensive and limited to large-scale businesses. But now with the raging influence of cloud (internet) based BI, all different kinds of businesses have expanded their scope vastly.
So, what exactly is Cloud BI? How can it really help us?
It is the same process of BI done in an extremely smooth and effective manner purely based on space and processes on the internet. There are so many cloud BI service providers increasing day by day. Namely Tableau Online, Microsoft Power BI and Qlik Sense are some of the giants in cloud BI. In comparison to the recent history of BI including hardware-based processing methodologies, we have reached the heights of the true meaning of a global market. Cloud-based BI can help us in many ways.
Reduced Implementation Time
Getting aboard into a cloud BI is easier than implementing internal software of data analytics. Setting up an account and getting started is a fun and easy process in the cloud. These external software are mostly up to date with a user-friendly interface. They won’t take up a lot of time in training employees too. It might only need a bit of self-study on how to use and you are good to go. This helps companies to adopt Cloud BI effortlessly.
Reduced Maintenance Cost
As this is solely based on the cloud there is no cost in maintenance unless it is the purchasing, subscription, or upgrading cost for the Cloud BI. Mostly the maintenance, troubleshooting, and updates are done through these Cloud service providers themselves. Unlike the internal software, they are fast-growing and up-to-date which gives the best competitive edge to expand the business. Since these BI systems aren’t located in a local area or supported by any main servers fixed within a specific workplace, there will be no additional hardware maintenance cost incurred in Cloud BI.
Easy access across the globe through any device is one of the most fascinating facts about cloud BI. It does not require any applications to be installed on any device where the user is able to log in at anytime from anywhere online. With Cloud BI not only one or a few people but many of the employees, business partners, or any other relevant party will have easy access to relevant data and information in real-time.
Improved Decision making
Cloud BI provides a comprehensive platform of decision-making by opening up a wide range of fresh insights for organizations. The reliability of these decisions is higher than any manual or internal software because of its timeliness. Cloud BI is famous for providing the most updated versions of data and information empowering real-time decision-making online. The results or the outcomes of these decisions have always performed incredibly.
Cloud BI offers a very flexible service, especially considering the size of the business. Its scalability and adjustability are solving many problems connected to internalized BI systems. No matter where you stand in the market, from industry leaders and multinational companies to start-ups with several employees are now able to take benefit of Business Intelligence. The options offered vary from simple to complex allowing different organizations to get customized according to their requirements.
This is the coolest fact about Cloud BI and if you are about to settle into a cloud base, this is something worth considering. Green IT expects a better world with no pollution caused due to the IT industry. Cloud computing is one major milestone achieved in Green IT which paved the path to a huge redemption of Carbon and Greenhouse emissions. From the corporate perspective, it is your responsibility to be a little more eco-friendly and save the future!
Why for SMB and SME?
Small and Medium-Sized Business and Enterprises have their own unique structural and legal differentiations even though they may appear and commonly understood as similar. Regardless of their changes, they both express the idea of size. Here, let’s take a look at the use of Cloud BI specifically for both SMB and SME. It’s important for us to have an understanding of this as SME and SMB cover a bigger proportion of the business world. At the same time, it is notable that these aren’t only helpful for SMB and SME but may be applicable even to those unregistered startups with one employee.
Easy to set up nature
As it is mentioned previously, Cloud BI is a very smooth platform to get started. This can be beneficial for many SMB, SME, and any sort of startup or any other small business in any form due to the convenience. This does not need specific well-trained skilled employees to adopt or maintain so you can directly jump into this at any point of your business. Everything can be arranged online and you may also receive the demos or any required training through the cloud service itself. It is highly recommended that if you aren’t up on a cloud base BI yet, this is the right time of doing so.
Ability to work from anywhere
Being able to work from home or from anywhere around the world has made it much easier for many small businesses. Grasping the essence of global business, conducting business operations virtually from wherever the employees are comfortable is one way of successfully achieving its business goals. This makes it easier to gather the best pool of talents to work under one company. Also, reducing a lot of maintenance costs enables the business to reach its heights at ease.
Scalable and fast-growing
SME and SMB are fast-growing and unpredictable. To help this situation we need to focus on something more scalable where if necessary, to scale up or in case scale down and yet to be benefitted by BI. Cloud BI is the best answer for it! Most of the time small businesses and startups have their own growth patterns unlikely to internalize BI software Cloud BI has the ability to cope with the scale as well as the cost.
Strategic decisions play a crucial part in any organization. It’s important for small businesses to take the right decisions at right the time to grow. When it comes to businesses smaller in size have fewer managerial employees and subdued processes in strategic decision-making. Therefore, BI Cloud comes into play to fill the gap. And for sure it’s one of the best things about BI Cloud.