The game is changing when it comes to business intelligence. Things that were all the rage a few years ago are outdated today. This is partially due to advances that have come along with the cloud. Here’s how business intelligence and the cloud are changing how organizations gain insights.
The Transformation of Data Analytics & the Cloud
Data analytics and cloud technology have seen a parallel transformation over time.
Cloud capabilities are changing the physics of capturing and storing data — and allowing organizations to seamlessly utilize data within different apps.
The last major wave of analytics, including artificial intelligence (AI) and natural language processing (NLP) is giving people a seamless way to understand and act on this data.
Earlier waves of data analytics required massive on-premise legacy systems and dedicated data teams. This is no longer the case thanks to technological advances — like the cloud — that are streamlining data analysis as we know it. As InfoWorld points out, cloud solutions are maturing faster than on-premises stacks, offering enterprises “richer functionality” for an “increasingly competitive cost of ownership.” This helps explain why organizations today are adding cloud and hybrid business intelligence technologies to their arsenals.
How Does the Cloud Change Business Intelligence?
The cloud allows for businesses to ditch their old legacy BI hardware and move into a true digital age. Some enterprises have been hesitant to move over to the cloud due to their high level of investment in physical databases. However, the benefits of the cloud are vast. Here are some reasons why the cloud and BI can go hand-in-hand:
- Cloud storage is flexible. You’re going to be able to get as much or little as you want, which means you can scale up and down to fit your exact needs. This eliminates the risk over- or underinvesting in BI infrastructure.
- Since the cloud operates online, it can be accessed from anywhere there’s a connection to the Internet. This makes cloud-based BI solutions way more flexible than on-premises ones. For instance, someone working remotely, or even out in the field, can use whatever BI tools they need, when they need them. Having this flexibility allows for much smoother operations.
- Cloud services are much more adaptable than legacy systems. When working with cloud-based BI tools, things can be upgraded periodically without facing significant downtime. The same can’t be said for on-premise solutions, which require significant reworking when they become obsolete.
These are a few of the reasons why cloud-based BI tools make sense for modern enterprises. There’s one further distinction to make with cloud systems: multi-cloud strategies.
What Is a Multi-Cloud Strategy and Why Do Businesses Use Them?
Many businesses are moving toward a multi-cloud strategy in which enterprises use multiple cloud services at the same time. While this might seem redundant at first glance, there are actually some pretty compelling reasons for doing this:
- Different cloud platforms have different strengths. It should come as no surprise that not all cloud services are exactly the same. If this were the case, there would be no reason for competition. Businesses should consider a multi-cloud strategy if they see potential benefits from more than one service.
- It keeps you from getting locked in with a single vendor. Relying too much on a single service can make it difficult to switch if services suffer or you find a better solution. Multi-cloud businesses have more flexibility on this front.
- You’re less likely to face downtime when using more than one cloud. Things do happen. If something goes awry with your sole cloud provider, you’re going to be out of luck until it’s up and running again. Diversifying can reduce the likelihood of your organization experiencing downtime.
The cloud is a powerful resource for businesses trying to get the most out of their analytics. Consider how your cloud BI strategy can play a role in your bottom line.