Thanks to the exponential growth in the use of unstructured data by companies, including social customer data, many decision-makers are wrestling with the most effective ways to analyze real-time data quickly and effectively.
These escalating data demands are just one of the reasons there’s growing market interest in cloud-based analytics. While Gartner forecasts the global business intelligence (BI) market to grow 9.7% this year to $10.8 billion, business analytics software-as-a-service (SaaS) is expected to grow three times faster than the total business analytics software market, according to Brian McDonough, research manager for IDC’s Business Analytics Solutions research service.
Cloud-based BI and analytics offer companies and business users multiple benefits. Businesses of all sizes can leverage vast computing and storage resources in the cloud without having to invest in expanding their existing IT footprints or IT support staffs. In addition, cloud-based BI and analytics provide business leaders opportunities to quickly gather and act on granular insights from a mix of structured and unstructured data.
Growing demand for these types of capabilities is a key reason why TIBCO recently introduced the general availability of TIBCO Silver Spotfire 2.0, a portfolio of on-demand capabilities that enables any business user with an Internet connection to quickly and easily create, publish, and share customized business intelligence dashboards and advanced analytics applications via the cloud. The collection of tier-based cloud services is designed to meet the needs of different types of users – from independent business owners to executives for mid-size and enterprise organizations.
Cloud-based BI and analytics tools also free business users from having to rely on IT staffers to generate reports or create dashboards for them, thus enabling decision-makers to act quickly on fast-changing market conditions. These types of on-the-fly capabilities place greater power in the hands of organizational leaders to analyze the sales pipeline, the results of marketing campaigns, or trends involving individual line-item expenses while freeing up IT resources to focus on other activities.
The accessibility of cloud-based BI and analytics also helps foster greater collaboration and teamwork among decision-makers, including those who might be geographically separated. For instance, users of TIBCO Silver Spotfire 2.0 can embed dashboards within TIBCO’s tibbr solution via a stream so that followers of that stream can then obtain and share real-time information. These types of capabilities enable business users to easily share ideas and insights either privately or publicly with one another, customers, prospects, and other business partners.
The combination of these features provides line-of-business users the power to quickly and easily make informed business decisions across all levels of the organization. That’s absolutely critical given the pace of change in the current dynamic global market.
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