Competitive businesses need timely and insightful data to keep pace with their market rivals and changes in the market place. Cloud analytics comes in handy in their quest for growth and success as it is an agile, cost-efficient, secure, and reliable solution. In addition, cloud analytics is an effective tool in assessing customer expectations and brand value of firms.
The biggest benefit is access toinformation from anywhere specially on smart devices. This is beneficial for field sales and supply chain teams when information is needed on the drop of a hat.
The basic difference between traditional BI and Cloud is the initial investment. There’re huge capital investments and lot of time involved in building the infrastructure for BI whereasfor Cloud you pay as you go. You can host functions such as business intelligence, data warehousing, and social media analytics remotely. Apart from accurate advice, these cloud-based applications allow you the flexibility to adapt according to internal or market circumstances.
The benefits for businesses are multiple
The Cloud and Employee Performance
Cloud analytics are effective at improving the performance of the employees in three different ways: by delivering fast facts, figures, and insights; dashboard availability; and delegating power to the people.
- Delivery of facts, figures, and insights at a faster pace: Unlike traditional BI approach,cloud analytics works on demand by harnessing the power of multiple, fast, cloud-based servers. Timely actionable insights play a critical role in managing a mobile and dispersed workforce across the globe. This enables firms toaccurately understand supply chain activities despite their remote location.
- Gain access to data from anywhere —Businesses can access the analytics data from anywhere in the world. Analytical tools such asDialpad Analytics empowers administrator to recover useful analytics on voice and messaging usage via location, department or person. The employees are also offered visual and simple ways to view their unique communication patterns, which enables them to organize and better manage their workdays.
- Dashboard availability— The availability of dashboards on smartphone, laptop, desktop computer, tablet, or any other internet-capable deviceenables access to company activities at a glance. This empowers employees to detect problems soonerand take remedial measures at a faster pace. Secondly, the dashboard saves time in interpreting old reports as all the critical and relevant information is easily accessible to them.
- Empowersworkforce–Analytics is a self-serving reporting process that allows employees to create useful analytic reports with user-friendly point-and-click tools as and when they need them.
Globalization has led the demand volatility and inventory management to become a big challenge. Furthermore, product alteration to cater to the needs of globally dispersed customers is equally challenging. Customer-oriented industries such as retail, consumer goods, and automotive, need daily or real-time forecast generation to meet customers’ expectations. Cloud analytics can provide accurately anticipated demand and predict and monitor supply and replenishment status while better planning inventory flow of goods and services.
Analytics-driven planning activities such as route optimization, load planning, fleet sizing, and freight cost reconciliation can yield strong ROI and put an effective check on the growing expenses as a result of expanding the base of suppliers and logistics partners.