In today’s data digitized world, no business or organization can survive, let alone thrive, without a solid data management and data analysis infrastructure. For several decades now, organizations have relied on platforms and analytics software to analyze their digital data in order to understand the health of their business, layout business and management strategies, identify growth opportunities and overall run their businesses effectively.
Over the years, it has been proven time and time again, the top performing companies who are constantly beating analysts’ expectations have also instituted leading analytic capabilities. These companies have a solid data management infrastructure and a team that is constantly adapting to changes in the digital data management and data analysis landscape. They are proactive in providing their business users with tools and capabilities which empowers users to analyze the data at a ferocious volume, integrate multiple sources easily and also in some cases giving them the freedom to perform self-service types of analysis.
Today, with Cloud Analytics solutions, it has become very easy for organizations and Lines of Business to get that level of analytical capabilities at a very low subscription based cost. So, If you are considering an upgrade of your existing Business Intelligence platform or still trying to consolidate and migrate your legacy reporting tool to an enterprise class data warehouse platform, you should consider cloud analytics solution like Oracle BI Cloud Service (BICS) to modernize your analytics platform.
BI’s Movement to the Cloud is Happening at a Staggering Pace Providing Competitive Advantage
Gartner predicts worldwide software as a service (SaaS) application revenue will reach $22.1 billion by 2015. By the end of 2016, more than 50 percent of Global 1000 companies will have stored customer-sensitive data in the public cloud. The industry analyst firm also predicts that 30% of organizations have considered a cloud BI Deployment in the last five years and 50% of organizations will have considered a cloud BI deployment by 2015. This prediction simply states that if you’re not adopting cloud BI, your competition certainly is, and they are modernizing their analytics platform to better empower their Business Users while reducing data consolidation and data management cost.
What are the Business and IT Challenges with the Traditional, On-Premise Based Analytics Deployment?
In my opinion, there are three major challenges with today’s on-premise based Business Analytics Deployments:
- Deployment Approach – In a traditional BI Deployment approach, every single BI Project starts with an expectation that business users know what they want during the start of the BI Project. Of course, some metrics that are key to understanding the health of the organizations are known and they don’t change as frequently. However, there are times business users need the ability to integrate new data feeds with their enterprise data. Users may want to integrate a new product data (data element) that was not considered during the requirements process but is key to understanding how their customers are reacting to the newly launched product/campaign. Being able to analyze the customer behavior on time (when it really matters) can mean a difference between retaining your customers and losing them to your competition.
- Turnaround Time for Enhancements – In a Traditional BI environment, any new enhancement requests, even if it means the ability to analyze spreadsheet data with a fully working Enterprise Data Warehouse could mean a week(best case) to a couple weeks in most cases. Again, this time frame is if you have a BI Competency center and an efficient change management process that your IT team follows.
- Infrastructure Planning – The infrastructure (hardware and software) capacity is usually planned to fulfill the BI need at the start of the project. Every time a new applications needs to be integrated, the hardware and software architecture changes. Again, this is not even including data types and applications that are not known today but will be of vital importance in the near future as newer applications are created and used by consumers to create new type of data files.
How Can Cloud Analytics (Cloud BI) Platforms like Oracle BI Cloud Service (BICS) Address the Above Challenges?
- Easy Self-Service Capabilities- BI cloud services provides a complete self-service Business Intelligence for the business users. Self-service really helps the business users in getting what they want quickly. It gives them the capability to combine the single “source of truth” data that’s in their enterprise systems with any other external data that they want to combine. This means that users’ ability to make quick, timely decisions drastically improves.
- Outsource Infrastructure planning and ongoing maintenance to Oracle – Organizations can now offload ongoing infrastructure maintenance, backup, high availability as well as new functionalities that allows them to integrate new applications and data types into a Business Analytics platform by going with a vendor like Oracle and adopting Oracle BI Cloud Services (BICS).
Also keep in mind the cloud analytics offerings today has significantly matured as a product and is ready for prime time. All the previous hesitations to move to the cloud such as – security, reliability, data movement – have now been addressed by vendors like Oracle, particularly with their introduction of Oracle BI Cloud Service (BICS) ( Click here to learn more about BICS)
I sincerely believe that organizations which are considering building a modern analytics platform that can fulfill the changing digital landscape and empower business users to answer questions at a tremendous speed not just today but also in the future should definitely be looking at Oracle BI Cloud Service.
In my next post, I’ll talk about a migration strategy and path for customers considering Oracle BI Cloud Analytics as their Business Analytics platform of choice.
ABOUT THE AUTHOR:
Shiv Bharti is the Practice Director of Perficient’s (NASDAQ:PRFT) National Oracle Business Intelligence Practice. Shiv has solid experience building and deploying Oracle Business Intelligence products. He has successfully led the implementation of more than 75 Business Analytics and custom data warehouse projects.
Shiv is a thought leader in the Business Analytics space and a frequent speaker at large conferences like – Oracle Open World, Collaborate, KScope as well as Oracle User Group, sharing his perspectives and thoughts on industry trends,strategies, best practices and case studies.