Cloud-Based Business Intelligence Solutions – Which Are the Benefits
Business intelligence solutions support better decision-making by providing historical, current and predictive views of all business operations. Business Intelligence (BI) technologies can process large amounts of information to provide useful functionalities such as reporting, analytics, data and process mining, business performance management, benchmarking, text mining, predictive and prescriptive analytics. BI solutions help companies gain competitive advantages by identifying and developing new business opportunities.
Although enterprises are still in the early stages of adopting cloud-based BI solutions, a 2012 survey showed that these technologies are among the fastest-growing cloud-based business management tools. According to the survey, in late 2011, only about 13% of enterprises worldwide had cloud-based BI solutions in place and in use. But in 2012, cloud-based BI saw an 84% compound annual growth rate. The surveys author declared that “inevitably, cloud is opening up business intelligence to more users within organizations. There already is a drive to make BI more ubiquitous, and the cloud will accelerate this move toward simplified access.”
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