The state of cloud business intelligence 2019
Business intelligence has seen widespread adoption in the recent times mostly due to more and more organisations being aware of the benefits that it provides and also more data being available to make better decisions.
Business intelligence helps the organisations to make more informed decisions based on the insights that are obtained from the already existing data that is available with the organisations. This has several benefits which include having more productive work environments by reducing the bottlenecks that are holding back on maximising the results, having more profits by identifying the areas of improvement and providing much better experiences to the customers.
The 2019 cloud computing and business intelligence market study had found several insights on how businesses are adopting BI. Some of the findings include:
48% of the studied organisations said that cloud Business Intelligence is ‘Critical’ or ‘Very Important’ to the operation of their organisation. There is increased trust in the BI systems for analysing the company data and helping the company take better decisions.
The most supportive organisations of cloud BI are the small organisations which have on an average 100 employees or less. This trend has been continuing since the previous few years.
The industry that considers cloud BI the most important is the retail/wholesale industry. The enterprises in the retail/wholesale industry gain much better benefits from the could BI insights as it helps them to improve the experience of the customers and also helps them in improving the efficiency of the supple chains. The other industry that considers cloud BI to be very important for them is the technology and advertising industry.
The R&D departments of the organisations are leading in the use of cloud BI to make better decisions and they have much better potential use cases. Great importance on BI was placed by the Marketing and Sales department as well. This essentially means BI has been helpful in a huge way to the marketing and sales teams, thereby improving their workings.
While the R&D departments and the marketing and sales departments are leading in the cloud BI usage, they have adopted a combination of private and public clouds. In the adoption of private clouds, the finance department is the leader.
The four major requirements that are expected from cloud BI are support for ad-hoc queries, advanced visualization, personalized dashboards and data integration/data quality/ETL tools.
The most preferred strategy for cloud BI providers is the subscription model that has lower risk and provides benefits such as lower entry costs and lower carrying costs.
The current adopters of the cloud BI are using the Amazon web services, Microsoft Azure, Google cloud and IBM bluemix. These are the major players in the industry.
These were some of the recent trends that are in the cloud BI industry as of 2019. As more and more businesses adopt cloud BI the trends could change for the better. The adoption of cloud BI show that organisations care for the customer satisfaction and also that they are willing to spend some resources to help them make better decisions.
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