What is Cloud Business Intelligence (Cloud BI)?

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As more businesses switch towards remote working following the various COVID-19 lockdowns, cloud BI tools provide an easy solution for home-based teams. Cloud tools also allow users to access their data from anywhere and any device, provided they have an internet connection.

Even office-based staff can experience the benefits of cloud business intelligence through fast data access, therefore opening the possibility for quick responses whilst on business trips or commuting.

In a report published by DELL, companies that invested in big data, cloud, mobility, and security experienced 53% higher revenue growth compared to their competitors. Continue reading to learn more about why your organisation should consider cloud business intelligence tools.

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The Basics of Cloud BI

When tools and software are ‘in the cloud’, it means they are hosted on a virtual network. By this logic, cloud BI is as simple as business intelligence applications hosted via the internet.

At the most basic level, cloud BI merges the need from organisations for deep business intelligence that can be accessed anywhere for tools that make a difference.

Why Choose a Cloud BI Solution?

Using a virtual network broadens the opportunities for your organisation. Cloud tools provide access to data from anywhere, thanks to the cross-platform capabilities. Whether you use a desktop computer in a home office, a tablet in work meetings, or your phone on the commute, cloud business intelligence tools provide easy access to the most up-to-date data.

This therefore means you have fast access to the right information at the right time.

Another positive outcome of using a cloud tool is that it brings greater flexibility to companies and organisation. The easy access provided to users thus allows organisations to easily adapt their strategies to reflect changing market conditions. Cloud computing also allows organisations to run their operations with a remote workforce, reducing overheads, and therefore increasing overall revenue and income.

Cloud BI Benefits

Using cloud BI tools offers a range of benefits for an organisation.

  • Simplicity

    Good-quality cloud tools are designed to be easy-to-use. This is achieved through simple dashboards and intuitive design. Users can therefore quickly start without complicated instructions.

  • Easy deployment

    Users can easily install cloud software with minimal help from specialised teams.

  • Mobile-friendly

    Employees can access information from any mobile device (such as smartphones and tablets), anywhere they have an internet connection.

  • Scalability

    The process of adding new users to cloud BI solutions is easy and fast. This supports organisations as they expand, either geographically or in terms of staff numbers.

  • Increased competition

    Previously, only large organisations could afford BI insight solutions. With cloud expansion, small- and medium-size businesses can access BI tools, creating a more level playing field as a result.

  • Reduced overheads

    Cloud solutions minimise the number of on-site servers and staff, making day-to-day operations cheaper and simpler.

Summary

Using cloud BI solutions, therefore, presents the opportunity for greater access to data. Through hosting BI solutions online, users can easily access the latest data from any internet-connected device. This means you have access to the right information at the right time.

Cloud BI opens the possibility for greater remote working, which in turn holds implications for cost savings and increased revenue.

How BDI Can Help

BDI’s Business Systems Review service can help your organisation identify whether a cloud BI solution is suitable for your organisation. We have also recently announced a new partnership with Sysynkt, an innovative cloud-based Extended Financial Management System. To learn more about this partnership, please read our announcement.

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