Is it worth shifting to a cloud platform?
On-premise and homegrown systems have a higher cost of ownership from the onset with upfront capital expenses, ongoing maintenance and potential upgrades.
Cloud software affords significant savings in maintenance costs and IT resources. Vendors offer a host of managed services in the cloud, including redundancy and disaster recovery and software updates and patches while providing consistent uptime.
Types
Cloud business intelligence solutions include the following platforms.
The as-a-service terminology describes vendor-managed cloud services.
Here’s an analogy for comparison.
- IaaS is similar to cooking food in a kitchen. You have the tools, but you must buy the ingredients and make the food from scratch.
- PaaS is like walking into a ready-to-go kitchen with the tools, ingredients and prep work in place. All you have to do is cook the dish.
- SaaS is when you order in.
Here’s the technical explanation.
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IaaS (infrastructure-as-a-service) provides on-demand access to cloud-based storage, servers and networking systems. You can personalize the service as desired. Think Google Cloud and Amazon Web Services (AWS). IaaS supports software development, scalability, IoT, AI and disaster recovery.
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PaaS (platform-as-a-service) is a cloud setup for running your applications, operating systems, databases, middleware, and development and runtime environments. Microsoft Azure is an example.
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SaaS (software-as-a-service) are ready-to-use applications available via web browsers and desktop and mobile apps — the vendor manages everything. Salesforce, Trello, ClickUp and NetSuite are examples.
Deployment Options
Which cloud deployment will fit you? Is a private cloud cost-effective?
A public cloud is a managed platform with multiple tenants sharing servers, networks and storage. It’s automatically scalable at runtime, and pay-as-you-go pricing and subscriptions are the standard payment models.
You get the benefits of new tech innovations and a global user community.
A private cloud is proprietary and can be on-premises, managed or virtually provisioned within a public cloud. It can be expensive to maintain.
Maintaining in-house data centers is expensive — on-premise servers need physical space, power and cooling, and all are money sinks. In comparison, the public cloud is cost-effective.
Many enterprises prefer the hybrid cloud model, which lets you retain your data on proprietary servers with shared computing and networking. It might be just the thing for you to avoid the overhead of data migration or keep data confidential.
Amazon, Microsoft, Google and Cisco are the top cloud providers offering public, private and hybrid deployments.
Primary Benefits
The cloud’s flexibility enables companies to become agile, deploy faster and reduce the time-to-market. It supports continuous development and integration (CI/CD) with automation, managed databases and virtualization.
How does the cloud benefit businesses otherwise?
Maximize ROI
Unlike on-premise solutions that demand substantial upfront investments in hardware and infrastructure, cloud BI software has a low entry cost, putting it within the reach of small and medium-sized businesses. Saving money never hurts large enterprises, either.
Scalability allows you to manage data and analytics requirements efficiently by paying only for the consumed resources.
Additionally, cloud solutions benefit from economies of scale — the per-unit cost of a service reduces as the scale of operation increases. As more businesses adopt cloud BI platforms, the overall cost per user or data processing unit diminishes.
Generate Revenue
Cloud BI software isn't just a tool. It's an engine driving revenue generation and business growth. Live data provides accurate updates, driving supply chain management, demand forecasting and inventory management.
But it's more than just cost savings, it's about staying ahead. Live intelligence helps businesses anticipate buyer needs and stay agile with customer analytics.
Data monetization is another profitable offshoot of cloud networks — you can sell data legally. With DaaS (data-as-a-service), businesses can turn their data into a revenue stream, selling valuable insights to those who need it.
Innovate
Cloud BI software plays a crucial role in helping businesses stay ahead of the curve by proactively responding to changing market trends.
Up-to-date information drives informed decisions and data integration provides unique insights for confident innovation. Predictive modeling helps anticipate trends and decide whether now is the correct time to diversify.
With cost-effective cloud storage options, businesses can store historical data for longer, enabling them to identify long-term patterns and trends.
With user-friendly interfaces and intuitive tools, employees can access and analyze data without relying on IT teams, fostering a culture of experimentation and collaboration.