Many organizations worldwide are showing great interest in cloud-based business intelligence (BI) according to a recent survey conducted by Dresner Advisory. More than 50% of the companies who participated in the research are currently using or planning to use cloud BI in the near future. More than half of the respondents believe in the importance of BI in their business operations and planning.
However, while the number of cloud BI users is growing, several organizations are not yet adopting the said platform. Most of these companies still prefer private cloud environment, citing security as the primary hurdle to cloud-based BI adoption. Unfortunately, many organizations surveyed are not aware of relevant industry standards that include strict security measures to the platform.
The latest usage trends
The report looked at the usage trends and the company’s perceptions of cloud BI. According to the study, the perceived advantages of cloud BI include lower total cost, easier and more economical maintenance, and greater accessibility to business intelligence.
The research also revealed many interesting findings. Apparently, it is the very small and very large organizations that give the most importance to cloud BI. Sales and marketing groups are the highest users of cloud BI platform. The most preferred BI model is the private cloud, followed by public cloud. And the most required cloud BI features include self-service, dashboards, ad hoc query and reporting capabilities.
Interestingly, the cloud BI features are increasingly gaining attention from organizations of different sizes. However, be it public or private cloud, the companies expect to have the same kinds of functionality as their on-premise BI platform.
Hybrid cloud is a less attractive option according to the study. Although some organizations expressed their preference to combine data that are on-premise and off-premise, they are not inclined to using the hybrid model.
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Why you should adopt cloud BI
Here are some of the key benefits of cloud BI to inspire you as you formulate your BI strategy:
- Reduced total cost
With cloud BI, you can work with a smaller budget because you don’t have to invest in hardware and ongoing maintenance. The fast implementation also ensures immediate access to the solution and saves your company time and resources.
- Increased productivity
Because cloud BI has the capability to integrate new functionalities to meet your specific business needs, your organization can benefit from it straightaway by having more efficient processes. This approach results in increased employee productivity and reduced duplicate tasks.
- High-quality data insights
Using cloud BI eliminates the possibility of having duplicate data because all information are stored in a single location. This feature does not only decrease the volume and complexity of data but also delivers best-quality data insights that can be accessed by your entire organization. As a result, you can make more informed, strategic decision.
Business intelligence continues to help organizations achieve a critical and competitive advantage by leveraging on high-quality data. With cloud computing making BI solution affordable, are you now ready to embrace and reap its benefits? Contact Four Cornerstone now to learn more!
Our Oracle Consulting in Dallas will share with you how a world-class cloud BI can improve your daily activities and overall business. Overcome the hurdles of embracing cloud BI by fully understanding its benefits and functionalities.