Cloud Business Intelligence: Synergy of Cloud and BI for Your Competitive Advantage
As more and more organizations seek tools and technologies to help analyze big data for fast decision making and efficient running of their business, business intelligence (BI) has emerged as the leading solution.
Of course, delivering the right information to the right people at the right time requires quick access to data, and Cloud BI is the fastest way to do this.
Low cost, ease of connecting with the workforce remotely, and the ability to transact with customers from anywhere around the world make cloud business intelligence the perfect solution for many companies.
According to a study, the cloud computing market was worth $321 Billion in 2019 and it’s expected to reach USD 1,025.9 Billion by 2026. IDG’s 2020 Cloud computing research also found that 81% of businesses have at least one application resident in the cloud.
Thus, you’ll be missing out on several opportunities if you refuse to leverage the cloud for your business intelligence.
In case, you wonder why everyone seems to be yelling “cloud business intelligence,” then I invite you to read on.
In this article, Hanna Schnaider explains the idea behind Cloud BI and why you should start using cloud business intelligence solutions today.
What is Cloud Business Intelligence?
Simply defined, Cloud-based Business intelligence is the process of using technology to convert data into meaningful insights, with the cloud as the environment for transformation.
Cloud-based intelligence allows organizations to access BI-related data including KPIs, dashboards, and several other business analytics.
In today’s world, many enterprise-level businesses are increasingly turning to cloud-based tools such as customer relationship management (CRM) applications, online storage tools, help desk software, and more.
Cloud BI solutions are often scalable, faster, secure, available on-demand, user-friendly, and offer low administrative costs.
Additionally, cloud business intelligence combines the growing need for Business intelligence (BI) with the exceptional values of cloud-based applications to deliver cloud business intelligence tools.
Why Cloud BI?
Cloud BI offers several benefits and opportunities for companies who leverage them. The most popular advantages are:
- Simplicity. Best cloud BI tools don’t make you go through hell before getting to use them. Instead, they come with intuitive and easy-to-use dashboards that allow users to operate them quickly
- Easy installation. Since they are web-based software, you won’t need an IT professional to install a cloud BI solution. By following the instructions, a fifth grader can easily install these applications.
- Scalability. Cloud BI solutions are scalable so you can always add new employees to an existing cloud business intelligence solution.
- Mobile-friendly. You don’t need a desktop to access a cloud BI solution, a single click from your mobile phone or tablet will do the trick.
- Affordable. Before now, only big companies could afford to implement cloud business intelligence tools. Now, small and medium-sized businesses can leverage cloud BI tools for their business expansion.
Types of Cloud-based Solutions
Based on the cloud environment, a web-based business intelligence (BI) tool can function within three types of cloud:
A public cloud simply means the cost of having your business data in the cloud is split among cloud tenants, making it the most affordable option for cloud business intelligence.
If you’re a small or medium-sized business trying to cut down on budget or maybe you’re a company dealing with big data workloads, then this could be a great option.
For big companies who care about their data security and compliance with regulation, it’s advisable to deploy your business intelligence solution in a private cloud.
Although very expensive, the private cloud computes resources exclusively for your company and provides storage dedicated fully to your business.
A hybrid cloud is perfect for companies who can’t afford a private cloud yet need to comply with strict regulations such as GLBA, GDPR, HIPAA, etc.
It combines the traits of both the public and private clouds, allowing you to store data in a private cloud, while also experimenting with big data in a public cloud.
Top Cloud Business Intelligence Software
Having known the different types of cloud, it’s essential to point out the best web-based business intelligence tools that you can start using right away.
Here are the tried and tested cloud BI solutions available on the market today:
Microsoft Power BI Pro
Power BI is a cloud-based, SaaS, self-service BI solution designed for non-technical users.
Power BI is simple and can be accessed via any browser or using their mobile app while also allowing customers to keep track of their business with the provided live operational dashboards.
With this tool, you can easily explore your business idea using interactive visual reports and authenticate or enrich the idea with additional data sources
- Isolation from noisy neighbors
- Huge datasets
- Higher dataset refresh rates and huge data storage
- No user quotas
- Pro: $9.99 monthly
- Premium: $4,995 monthly
Amazon QuickSight is a cloud-based business intelligence solution with a much cheaper rate than the traditional BI solutions.
It’s generally used to perform ad-hoc analysis, building visualizations, and getting business insights from data.
Amazon Quicksight leverages a super-fast, In-memory Calculation Engine to render visualization rapidly and perform advanced calculations.
- Provides unlimited dashboards
- Features multiple data sets in one dashboard
- Connects with local excel files
- Includes updates and support
- Authors: $18 per user per month
- Readers: $0.30 – $15 per user per month
Datapine Business Intelligence
Datapine uses a scalable SaaS, data analysis tool to allow clients to easily access their business intelligence data without any database or SQL knowledge.
The result of the database analysis is displayed in a chart or table form which can both be used for internal and external reporting purposes.
You can connect Datapine to any existing database – Google Analytics, etc. – within minutes.
- Drag and drop UI
- Full-tablet support
- Ad hoc queries
- Performs advanced calculations
- Contact company for pricing
Tableau Online is basically a hosted version of the Tableau server.
Tableau Online makes business intelligence easier than ever before by providing you with an analytics platform that is fully hosted in the cloud.
With Tableau Desktop, you can publish dashboards and share them with partners, colleagues, or customers
- Sharing and collaboration in the cloud
- Ability to connect to data from anywhere
- Allows interaction, modification, and even authoring on the web
- Tableau Creator: $70 user/month
- Tableau Explorer: $35 user/month
- Tableau viewer: $15 user/month
A Final Word
Cloud BI intelligence is no longer an option, it’s now a necessity for any business that wants to keep growing in the ever-competitive market.
Enjoying the benefits of business intelligence in a cloud-based solution begins with choosing a trusted vendor that can help launch a profitable and scalable BI implementation strategy.
If you’re looking for the perfect vendor, you can trust FortySeven Software Professionals https://fortyseven47.com/ for the task.