News & Opinions
The latest news and insights from Hanley Wood’s outspoken experts and key thought-leaders throughout the residential and commercial design and construction industry.
From BI to KPIs to Benchmark Success in the Cloud
Jeffrey M. Kaplan / CRM Buyer / May 10, 2013
Ask any business manager or executive which information they’d most like to see after they’ve gathered their internal operations data, and they’ll tell you they’d like to know how they compare with their peers. I think the most exciting aspect of the rapidly evolving cloud solutions of today is that they will satisfy this dream.
Organizations of all sizes across an assortment of industries are using a growing set of cloud analytics solutions to address their Big Data, business intelligence (BI) and data integration challenges, as I heard first-hand at the recent THINKstrategies’ second annual Cloud Analytics Summit, which I had the privilege of hosting.
Escalating competitive pressures and customer expectations are forcing organizations to find new ways to tap internal and external data sources to achieve their business goals. They must also better understand how they compare and contrast with their peers from a performance standpoint. This means using key performance indicators (KPIs) to benchmark their success.
Legacy systems have proven to be too complex and costly to address these issues and achieve these objectives.
A new breed of cloud-based analytics tools are leveraging today’s more cost-effective Infrastructure as a Service offerings to capture and process structured and unstructured data. More user-friendly, Software as a Service solutions are making it easier for corporate end-users and executives to collate and share this information to make better important decisions. Plus, a maturing set of Platform as a Service alternatives are enabling organizations to build their own analytics applications.
At all three levels, today’s cloud solutions are increasingly equipped with dashboards that provide a quick snapshot of current usage levels. They often include historical trends lines and configurable alerts to notify users when they are at risk of not achieving their objectives, or when they may face a potential problem such as customer abandonment or IT system failures.