Smart companies are trying to pursue every available opportunity to maximize their performance and minimize costs. That's why, business intelligence tools are used to analyze data, identify trends, and support business decisions, etc.
Beside traditional BI solutions, one of a new growing trends is definitely Cloud BI. Cloud BI solutions are also known as Software-as-a-Service or On-demand solutions. They offer a timely and cost-effective resource for businesses of all sizes, in order to maximize their business potential while minimizing costs.
Cloud BI is the most simple and the most cost-effective way for a company to get all the components needed for data access and integration, analytics, reporting, dashboards, etc. All of this you can have in a hosted environment, with pay-as-you-go economics. They provide flexible and powerful business insight, and they are easier to use, cheaper and faster.
With traditional business intelligence solutions, companies need one year to year and a half, or even longer, to deploy. There's a big advantage of Cloud BI solutions, because they are quick to deploy, and relatively simple to change. The main reason for this advantage is that with Cloud BI solutions, there is no additional hardware to install and implement, no additional servers or services, etc.
Besides, companies don't have to worry about software updates, architecture or security problems. All this is maintained by the Cloud BI vendor and delivered to companies automatically.
Cloud BI solutions provide powerful and flexible business insight, but are faster, easier, and less costly than custom solutions.
The business benefits of Cloud BI are compelling and real.
Relative to traditional business intelligence solutions, Cloud BI solutions offer the following business benefits:
- Faster Return of Investment
- Lower Implementation Costs
- Lower Ongoing Costs
- Increased Collaboration
- Scalability - Easily scale from departmental to enterprise level solutions
- Agility - Quickly adapts to changing business needs
- Greater Visibility - Easily share data and reports, even outside the firewall