Thanks to the wealth of data emerging from today’s technology-driven and interconnected business infrastructure, this statement holds more truth than ever before.
IBM found that 2.5 quintillion bytes of data are generated every day, 90% of which was generated within the past two years alone. With the ability to better understand the consumer platform and drive revenue growth, it makes sense that more and more businesses are investing their time, money, and strategy efforts in the current data rush. Nevertheless, what good is data if you cannot make any sense of it?
Business intelligence (BI) can be defined as a discipline that clusters an organization’s theories, architecture, and methodologies through technology to generate meaningful and actionable insights from raw data. Despite increasing attention to BI, many people still don’t know how to make BI more robust, practical, or accessible within today’s competitive market. Here, we will examine how organizations can leverage cloud-hosted BI to optimize their strategies, their business decisions, and their bottom lines.
Cloud Computing: The History
Cloud computing began in the 1950’s with the creation of both the microchip and the mainframe computer. From then on, as technology advanced and improved, through the utilization of time-sharing, multitenancy, CPU resources, and remote access, progress eventually led to the early-2000’s dot-com boom. Thanks to pioneers like Google, Amazon, and Salesforce, the cloud developed as a way to deliver computing power without hardware and locally installed software. Since its early stages, the cloud computing industry has seen exponential growth, becoming an outstanding multi-billion dollar industry. Its insane capabilities and reach into all forms of business and industry have now led to the creation of cloud-hosted BI.
What is Cloud-hosted BI?
Cloud-hosted BI is a lower-cost, easier-to-deploy business intelligence system. It gathers data and converts it into meaningful information for businesses to utilize. Typically, cloud-hosted BI can do anything from mapping and extracting business data to modeling and validating the information that has been obtained. Furthermore, cloud BI is hosted on a virtual network so that that information can be accessed from any device, anywhere in the world.
Cloud BI is one of the best tools to utilize for your business. Check out these benefits of incorporating cloud BI and how it can change what you do:
- Mobility — Business owners can access real-time data and important reports, records, and requirements from any device at any time
- Agility — Cloud BI can automate everything you need from data organization and interpretation to reporting. The work can be done on-demand and instantaneously modified to conform to your business needs.
- Natural Interpretation — With clear visuals, such as diagrams, charts, and trees, interpreting data streams is a breeze. The organization and visualization allow for optimized efficiency and less time spent decoding and categorizing data output.
- Security — Cloud-hosted BI is equipped with excellent authentication methods, from simple security protocols to fingerprints and user voice recognition, to help you protect your business. Often, high-performance analytics are delivered through factors such as multi-tiered caching, data encryption, data segregation, or investigative support network segmentation.
- Lower Costs — Cloud BI users can get consistent upgrades and continual maintenance without any extra costs, as well as quick and streamlined data processing results with better customer support, client engagement, and resource allocations.
- Higher Performance — Businesses utilizing the cloud can analyze, share, and examine data on demand for immediate changes, improvements, and accommodations to increase their efficiency and overall performance.
Finally, SMBs can catch up to big business data analytics; cloud-hosted BI software is affordable for corporations of all sizes. It allows any business to see important trends, dips, and changes over long periods of time, giving it insights instantaneously and allowing for needed changes to be made immediately. Cloud BI streamlines and automates all the difficult processes connected with business intelligence, letting SMBs correct issues, seize new opportunities, and plan for the future. Cloud BI is becoming the cornerstone of successful analytic and business intelligence strategies through its provision of business-critical data in real time to end-users.
Surpassing traditional on-premise software, cloud-based solutions give organizations of all types and sizes the opportunity to be competitive in the modern economic climate. Businesses incorporating cloud-based BI reap the benefits of true savings, quick deployment, security, and elasticity. If you are interested in seeing your company flourish through the use of cloud BI, SafeNet is here to help. We have helped companies of all sizes successfully prepare data for BI and implement cloud-based solutions that align with their business needs and strategies. Let us help you improve your business through the utilization of new and exciting technological resources, such as cloud-hosted business intelligence.