From time to time, all of us interact with cloud storage or cloud-based BI in one way or another. We keep images dear to our hearts, co-share college files, and even scale businesses with the help of custom-made tools.
If you are one of the modern entrepreneurs willing to level up your company, using cloud-based business intelligence is the right way to go. In this overview, we want to discuss the main benefits of this technology and explain why turning to business analytics consulting services may become a real game-changer.
What is Cloud BI?
Cloud-based Business Intelligence (or Cloud BI) is the process of using cloud technologies for business intelligence services. The latter involves numerous analytical tools that help businesses collect, analyze, and process huge volumes of data to make informed decisions.
Thanks to cloud technology, multiple users can uninterruptedly access information no matter where they are – in different cities or even continents. They can also receive constantly updated data that is easy to analyze and classify whether it comes to finances, sales, marketing, or other departments.
Cloud BI uses the latest solutions for collecting, processing, and analyzing data. They connect to multiple databases in real-time to get the most comprehensive picture. As a result, businesses receive a simple and digestible report on the current state of affairs and can take their performance to a new level concentrating on the most important tasks.
Benefits of Cloud-based Business Intelligence
Classic business analytics has multiple limitations that prevent businesses from collecting, processing, and putting the information together. It becomes much harder to create reports and see the bigger picture. Luckily, we have Cloud BI and below you will find some of its biggest advantages.
1. Speeding up the work process
Thanks to Cloud BI, businesses don’t need to process information manually and the workflow significantly speeds up. Just imagine: you don’t need to sort through stacks of papers and evaluate tables days in a row because with Cloud BI these tasks can be done in a matter of clicks.
Another great example: you need to collect customer reviews to understand what users think about the product or service. Of course, you can gather reviews, compile tables, and evaluate findings manually, but this will take weeks or even months. With the help of Cloud BI, the process lasts only a couple of hours. You will free lots of time for more important tasks, significantly reducing costs and time wasted on boring and monotonous work.
2. Data Availability
Data accessibility is one of the strongest aspects of cloud storage, as users from various departments, offices, and even countries can reach the same files and documents at any time. Such accessibility significantly simplifies work because departments and teams can share information much faster. At the same time, managers can get comprehensive and transparent data from all departments and branches 24/7. This allows them to make forecasts, regulate the work of branches, and even track the performance of every employee.
3. Data Security
Cloud BI is constantly improving, especially when it comes to safety. Modern technologies apply the latest encryption and security protocols preventing malware and data breaches. Since Cloud BI guarantees compliance with security standards and norms, they can flexibly change depending on the location and user requests. In addition to security protocols, multi-level authentication ensures top-notch data protection and anonymity.
Types of Cloud-based Business Intelligence
There are several types of Cloud BI. Each of them has its advantages and drawbacks, so businesses can always choose the most suitable option.
1. Platform as a Service (PaaS)
This cloud computing service allows customers to create, run, and alter applications without a need to manage complex infrastructure. When working in the PaaS environment, users usually get access to a wide range of tools and services that support the app’s lifecycle, so even businesses with entry-level skills might become active participants in the process.
Thanks to PaaS, developers have the opportunity to create and use applications without the need to prepare an additional database, administer it, or maintain storage and servers. This format allows them to avoid wasting extra time and helps increase productivity and efficiency.
2. Infrastructure as a Service (IaaS)
This Cloud BI model is used to access storage and computing engines over the Internet. It is considered the most popular computing service model. With IaaS, users can access various servers, remote computers, applications, and data storages. Since this system includes the main elements of a cloud-based system, it is convenient for employees of the IT industry, especially software developers.
Infrastructure as a Service allows you to rent data from various storage facilities. It is quite convenient since it does not require additional actions, and the price is usually not so high, which makes this method accessible not only to large companies but to medium and small businesses as well.
3. Software as a service (SaaS)
This type of Cloud BI is designed directly for applications. When working with this model, users receive a finished product that is managed by the cloud service provider. At the same time, customers don’t need to know how to organize the operation of services or set up the infrastructure on their own.
Simply put, users get a chance to use a specific program on different devices. For example, a cloud drive, on which many people keep not only work documents but also personal photos and files, can be connected not only to a computer but also to a phone or tablet.
Wrap-up
More and more companies use Cloud BI to speed up and simplify the workflow, reduce costs, and free time for more complex tasks. They also want to keep up with the times and be one step ahead of the competitors.
That is why many businesses turn to cloud consulting services which provide comprehensive support and assistance with IaaS, SaaS, and PaaS solutions. Book a cloud consulting call with Lightpoint Global today and get outstanding results tomorrow.
Photo by Marvin Meyer on Unsplash
