Friday, August 23rd, 2013
Traditional business intelligence (BI) converts raw data gleaned from data warehousing, online analytical processing (OLAP), and other sources into information that furthers an organization’s strategic goals.
Cloud-based business intelligence offers up the same type of valuable information as regular business intelligence (BI), but makes it accessible from any online device via a URL and login information. Both traditional and cloud-based BI solutions empower an organization with meaningful data – so what advantages does cloud-based BI have over regular BI?
Compared to the BI systems of yesterday, cloud-based BI is configured to be more efficient and it requires less copying, pasting, and calculating of data. Reports are generated at a significantly faster rate, reducing bottlenecks and freeing up IT to work on other tasks. The time and manpower that’s saved as a result can then be applied toward different tasks that further the bottom line.
In the past, organizations paid upwards of $1 million toward getting a business intelligence system up and running – not including the consulting costs for analysts to maintain and translate the data from IT. Cloud-based BI software, however, is much more affordable (in the range of $100-$10,000 depending on your needs). In addition to being affordable, cloud-based BI software can also save your organization money by providing data that indicates where excessive spending is occurring.
As your organization grows, the data architecture of cloud-based BI systems can accommodate a high volume of additional users, even if growth occurs at a rapid rate. Cloud-based BI systems can also be easily modified to block access to specific users instantly, whenever necessary.
Unlike traditional BI systems, cloud-based BI systems require no additional hardware and/or software upgrades and aren’t restricted to onsite deployment behind a firewall. Using a specific URL and login info, users can gain instant access to dashboards and key performance indicators (KPI) at any time and from any device connected to the internet. In turn, an organization’s key officials are unencumbered by time spent waiting for IT to compile reports, and thus can make fast decisions when timing is imperative.