Cloud computing is no longer a new concept for businesses. In fact, it is projected that by 2025 the cloud market will be worth $832.1 billion. This, paired with the fact that around 54% of enterprises say that cloud business intelligence is critical for their current and future initiatives, makes the implementation of these solutions critical for business success. Here we will cover the top 5 benefits associated with implementing cloud BI tools into your business to analyze your data on the fly.
The first benefit of switching to cloud BI is accessibility. The online environment enables every relevant stakeholder to have full access to their data and reports from wherever they are on any smart device. You no longer need to be a slave of your desktop but can take your data anywhere where there is an internet connection. This promotes collaboration and a seamless data experience.
Data security ensured
Data security is one of the biggest concerns regarding the cloud BI market. But actually, storing data in-home has become even more dangerous as companies are exposed to ransomware and phishing attacks. Cloud BI solutions offer multiple security features such as zero-knowledge encryption, multi-factor authentication, data segregation, voice recognition authentication, among others. With cloud BI you can rest assured that your data will be safer than ever.
Save time and resources
Additionally, the online nature of these tools makes them more budget friendly. Traditionally, business intelligence systems required long installation times as well as experts to manage them. With cloud BI tools there is no need for expensive installations or maintenance fees as they are subscription-based solutions. This saves businesses time and money while giving them the flexibility to customize their subscriptions according to their business needs.
Businesses deal with several cloud-based data sources on their daily operations such as Salesforce, Zendesk, Dropbox, Amazon Web Services, among many others. Collecting the information from all these sources and generating reports takes a lot of time that doesn’t correspond with the need to obtain speedy information. Cloud business intelligence systems make data more accessible by providing a single point of access for all relevant sources making the decision-making process as agile and efficient as ever.
Complex analytics made simple
Cloud BI provides access to several features at a lower cost with a user-friendly approach that makes them usable without the need for advanced skills. For decades, most organizations needed to hire trained IT specialists and programmers to manage their business intelligence. This made the process of data analysis very inefficient as it could take days to receive a report. Modern cloud BI tools are self-service, empowering every user to extract actionable insights in an efficient and intuitive way.
These are just some of the many benefits that your company can acquire by switching to cloud BI tools. Take advantage of your data in a secure online environment and get way ahead of your competitors by making your analysis and reporting process simple and effective.