Ivy Jun 03, 2014 1 Comment
Cloud BI (Business Intelligence) with analytics is slated to be the fastest growing category of cloud computing and business management solutions today. A recent Markets and Markets study estimated the overall market revenue of analytics solutions and cloud BI tools to be $5.25 billion in 2013, and expected to grow at a high CAGR of 31.6% and 31.4% respectively.
As organisations take advantage of cloud-based tools for access to real-time business-critical data and insights – the entire gamut of cloud-based solutions offering BI and analytics has assumed new heights.
This calls for students and professionals of data science and analytics to understand the entire ecosystem in order to appreciate the value of cloud BI and analytics – to learn about cloud computing, how analytics is delivered in the cloud or cloud analytics and the difference between Business Intelligence (BI) and Business Analytics (BA).
So what is Cloud BI and Analytics?
Cloud BI (Business Intelligence) and analytics refers to the applications hosted on the cloud, used to provide an organisation with access to BI-related data – dashboards, KPIs and other business analytics. It synergises BI with business and predictive analytics, delivering information and insights in real-time on multiple devices and web browsers.
How Cloud BI works
The cloud BI model
Cloud BI and analytics offers the following advantages over on-premise applications:
Cloud BI is fast becoming the lynch-pin in enterprise analytic and BI strategies, for its myriad possibilities in business solutions and insights. The various cloud models and hybrid solutions, further increase the potential of cloud of BI and analytics engagement.
The cloud is accessed for BI solutions vide the following models:
The scalable and high-performance reporting system of cloud BI and analytics, adds value to the flexible low-cost infrastructure.
With all these benefits, add-ons and hybrid models; you can easily expect an increased adoption of the cloud for BI and analytics solutions among organizations, big and small, in the years to come.