The synergy of Cloud computing and BI for competitive advantage
Integrating Power BI with applications on the cloud helps organizations create the most comprehensive and result-driven data analytics and visualization system. Read along to find out why Synergy of Cloud computing and BI helps you gain a competitive edge in the new normal.
According to research by reviewing platform Cloudwards, the combined global end-user cloud expenditure grew staggeringly from $270 billion in 2020 to $332.3 billion in 2021. That’s a 23.1% rise in companies opting for cloud services to speed up business operations and enable a remote working environment.
Among the many benefits cloud computing offers, the most crucial ones include the ability to store and manage complex data sets and draw meaningful insights that can help organizations make better managerial decisions. And when combined with enterprise-level data analytics and visualization software like Power BI, it becomes the perfect data analytics tool to gain a competitive edge in the new normal.
In this blog, we shall inspect the various application and deployment systems of cloud computing, the benefits of Power BI, and how the combination of both results in the most comprehensive data analytics software for your business.
Types of cloud computing
Before understanding the cloud-based business intelligence system, it’s important to cover the basics of cloud computing.
Modern cloud computing and analytics system are on-demand and customizable computer application services to create a digital work platform for businesses. These services include servers, storage, databases, networking, software, analytics, and intelligence over a virtual cloud platform.
Depending on the company’s requirements, we divide the cloud services into three categories.
Private Cloud: As the name suggests, the private cloud refers to computing resources used exclusively by a single firm. From its physical infrastructure to its networking system, everything is owned, operated, and maintained by the organization itself.
The strength of a private cloud system is its security and limitless customization. However, it’s the most expensive form of cloud storage as it demands in-house cloud infrastructure and
dedicated expert professional to efficiently manage the entire ecosystem. That’s why it’s mostly used by mid to large-level organizations and government bodies.
Public Cloud: In a public cloud infrastructure, many companies share common cloud resources like servers and storage systems. It’s the most commonly used cloud platform due to affordability for small to medium enterprises.
As multiple cloud tenants share the same hardware, network, and storage system provided by a third-party service provider, an ideal public cloud infrastructure must pay close attention to the safety of enterprise data. Microsoft Azure is the perfect example of public cloud infrastructure.
Hybrid Cloud: Hybrid cloud is created by combining two or more cloud infrastructures to create a complex and secured network of cloud ecosystems customized for your business. A hybrid network allows you to have the best of both private and public cloud networks while allocating a particular cloud system to do a specific task within the organization.
This allows businesses to use cloud systems more effectively without putting an excessive burden on one cloud infrastructure in case of massive spikes in demand.
Companies can choose the right cloud analytics infrastructure depending on their specific needs and expectations out of their cloud system. Although your cloud business intelligence (BI) system needs to fulfill certain requirements to deliver the best results every single time, that gives your business a much-needed competitive edge.
What to expect from your Cloud BI deployment?
Collaborative capabilities: One of the biggest requirements from cloud analytics in the new normal is having a real-time business intelligence system that can process a huge amount of data in the least possible time to give result-driven business insights.
Customized visualization: An ideal cloud BI system must provide an easy to understand visual reports so that the right people can understand and analyze it.
Advanced analytics: Your cloud BI system must be well-equipped with the latest data analytics capabilities that provide faster data mining and accurate business forecasts to stay a step ahead of your competition.
Built-in data management: Your cloud BI system should quickly retrieve the data from multiple sources, efficiently and accurately process the data considering its intricacies, and provide the most accurate results in a comprehensive format.
Why Power BI?
Microsoft’s Power BI is the industry-grade data analytics and visualization tool and the recognized leader in the data visualization sector. Its compatibility with other Microsoft 365 tools and applications makes it the most cost-effective, easy to use, and accurate data analytics and visualization platform for SMEs.
Its intuitive design and limitless customization capabilities help you create the most comprehensive data reports, which are then distributed within the organization to gain quality insights. When combined with cloud infrastructure, the data analytic capability of Power BI increases exponentially as it can fetch the data from internal cloud systems in real-time to create a comprehensive database for organizations to gain business insights like sales reports, financial reports, inventory optimization, invoice scheduling, and more.
To sum it all up, achieving a synergy of cloud and Power BI’s plethora of features helps SMEs get the much-needed competitive edge in the business environment of the post-COVID era.
Build next-gen data analytics systems on cloud with Azure and Power BI
Creating a comprehensive data analytics and visualization ecosystem is crucial for digital businesses to stay ahead of the competition. Power BI with cloud integration can help you design the most cost-effective business insight system with unprecedented accuracy and real-time data visualization.
VBeyond Digital can help you design your own data analytics system with our cloud computing and Microsoft Power tools expertise. Reach out to us to discuss your requirements and get the most out of your data analytics and BI deployments.
