The world of cloud computing and business intelligence has come a long way in the past five years, according to a new research report from Dresner Advisory Service.
Dresner has been studying the business intelligence software market for cloud computing since 2012; tracking trends, adoption rates, and information related to all things “cloud.” The results demonstrate how far business intelligence in the cloud has come, and how far it yet has to go in order to reap the full potential it holds for business growth and opportunity.
The State of Cloud Business Intelligence
According to the Dresner report, as reported by Forbes, 40% of respondents to the survey plan to increase their spending on private cloud business intelligence, while 34% are likely to increase spending on the public cloud. This shows renewed interest and growth in private cloud investments. Outlining that a growing number of people are continuing to invest in cloud business intelligence considering its substantial benefits over on-premises applications.
About 31% of the survey’s respondents use business intelligence software in the cloud, with education, business services, and the financial sector leading the way with the highest use. Manufacturing still lags behind, with the least number reporting business intelligence software on the cloud. It’s evident that the forecast for cloud will eventually make its way into the mainstream as businesses continue to adopt the implementation.
Challenges for Manufacturers Adopting Cloud BI
According to the Dresner report, the main challenge facing manufacturers in relation to adopting cloud BI software is in the use of business intelligence data for predictive analytics. In other words, some manufacturers are hesitant to adopt BI software because they are unsure or unfamiliar with using data for predictive intelligence.
One way to overcome this challenge is to find software that distils BI data into clean, easy to understand reports. Intuitively built dashboards that help manufacturers navigate through BI data can also improve their understanding and use of data to predict demand as well as adjust supply accordingly.
Good News for Small Companies
From the report, it is evident that small and mid-sized companies have been adopting cloud BI strategies. The report indicates that among companies with under 100 employees, 44% are likely to adopt cloud-based BI. This exceeds the figure cited for very large companies where 32% adopt cloud strategies and large companies which lag behind at 24%.
Cloud services enable the “little guys” to compete with bigger companies by making BI software more accessible and affordable. Data and information derived from BI systems can be used to increase market share and aggressively build a data-driven culture that uses every bit of knowledge for competitive advantage.
What Companies Need - and Demand - from Cloud Services
Companies both need and demand many things from their cloud-based BI software. Among the three most frequently cited needs are enhanced data visualization, ad hoc queries, and data quality tools. Ensuring high-quality data and making it simple and easy to use are essential for a good BI experience.
Cloud-Based Business Intelligence Software from BAASS Business Solutions
If you’re seeking cloud-based business intelligence software that does indeed offer exceptional data quality, easy data management, and advanced reporting features, BAASS Business Solutions can help. We offer business intelligence solutions including Sage Intelligence, Sage Enterprise Intelligence, BI 360 (Solver), and BI Tools developed by BAASS. Please contact us for a consultation today. We will help you choose the best business intelligence solution for your needs. Contact us or call 1-888-650-5544.