Hybrid cloud technology accelerates growth by supporting the analytics and business intelligence maturity of businesses.
Enterprises have been collecting data on consumers, business processes, market trends and much more for years. What distinguishes the high-growth companies from the rest is their ability to leverage this data effectively across the entire organization to deliver positive business outcomes – such as effective data analysis and efficient use of business intelligence. A survey on business intelligence strategies and utilization of cloud within the scope of these strategies, that is conducted by Forrester and commissioned by SAP, shows that companies with strong analytics and business intelligence practices have seen a revenue growth of 15% or more in the past few years.
Choosing a hybrid strategy for analytics and business intelligence (BI) solutions seems to be beneficial for organizations. Because a suitable hybrid strategy helps companies fully leverage their on-premises solutions and expand these to the cloud when required to meet the needs in times of growth. Analytics/BI maturity requires companies to find the right solutions that have a powerful set of functionalities, but enterprises must also ensure their analytics/BI processes are secure, easy to use and easy to acquire. Forrester survey shows that analytics/BI maturity correlate with higher revenue and satisfaction with analytical capabilities.
Hybrid and Cloud Facilitate Utilization and Accessibility of Business Insights
As companies evaluate how to improve their current analytics/BI and data processing capabilities, majority of them consider the adoption of more cloud capabilities as the logical next step. Majority of companies that have analytics/BI maturity choose a hybrid approach for both data analytics and data processing. This means that analytics/BI takes place both on-premises and in the cloud.
Hybrid cloud deployments provide companies with the accessibility and scalability of the cloud while allowing them to maintain the desired level of security and control of specific data and applications on-premises.
Forrester survey highlights the following key reasons for companies’ adopting hybrid cloud technology:
Implementing hybrid strategies can be challenging for many companies. However, in many cases, cloud solutions uniquely address the key concerns of businesses associated with the future of analytics/BI processes.
Improving Maturity Level of Analytics/BI in Three Steps
As companies can eliminate technical concerns associated with improving the analytics/BI maturity, they need to focus on the strategy in order to achieve it. Forrester survey shows that companies seeking for improved analytics/BI maturity should strategically concentrate their efforts on the following topics:
Meeting the changing business needs requires tools that are easy to implement and offer architecture flexibility, yet at the same time support high security and management standards. This shows that companies need hybrid cloud.
Hybrid cloud offers a multitude of deployment options. Some of these options can provide a higher return on investment in a shorter period of time compared to others. It is crucial to select those that will yield the highest business value at the minimum cost, effort and risk, and then prioritize these technologies over more complex and long term projects.
In order for analytics/BI improvements to be fully effective, it must become a companywide initiative. Companies need to buy-in across the whole organization, ideally from the top-down, to drive analytics/BI investments and improvements. This allows analytics/BI to be more self-learning and continuously improve.
The findings of this survey clearly show that there is a direct correlation between higher levels of analytics/BI maturity and the overall business success as demonstrated by revenue growth. Thus, the choice is clear for companies: Investing in modern technologies and capabilities to deliver effective, efficient and extensive business intelligence and analytics for all decision makers, or risk falling behind competition.
IBSS responds to your needs end-to-end in order to meet the rising needs of your growing organization in line with its goals, and to enable you to meet the expectations of today and tomorrow. With our experts and consultants, and extensive experience across industries, we support your organization in terms of finalizing your projects successfully. You can rely on the expertise of IBSS to make the most of the Business Intelligence Platform SAP BI and utilize the capabilities of SAP Analytics Cloud and SAP Cloud Platform Cloud solutions. Please contact us at [email protected] and together let’s explore the ways to move your business ahead of the competition.