Cloud-based analytics has evolved into a powerful force of insight and growth for midsize businesses. In four short years, the technology has converged data access, wrangling, visualization, analysis, prediction, forecasting, planning, and scenario evaluation onto a single platform in faster, more reliable, and more democratic ways.
While such advancements are helping growing companies make better decisions and take swifter action to take on opportunities and mitigate risk, analytics tools will continue to mature. Augmented capabilities will be pulled into the mix to allow decision-makers to go beyond traditional business intelligence, planning, and prediction. Plus, companies would be hard-pressed to operate intelligently without the flexibility to build, embed, and extend at their pace.
For this reason, many business leaders are looking to build analytical applications and embed insights into the workflow of line-of-business solutions. Additionally, they are beginning to take advantage of the vast prebuilt content offered by a diverse network of partners to accelerate their journey toward becoming an intelligent enterprise.
Building adaptable analytics applications
The creation of analytical applications that can be perfectly adapted to address end-user requirements is the ultimate step to higher efficiency. Businesses can design applications themselves or seek the support of a trusted partner to develop the technology in very little time. Tailored analytical applications that harness planning, machine learning, and smart analytics can also be used to reimagine use cases. In return, the right analytics-driven insights can be delivered to every employee when and where it matters.
Embedding capabilities for simpler, faster decision-making
A wide variety of APIs for cloud-based business applications are running with data-driven insight and working better and faster with embedded analytics, machine learning, and artificial intelligence. They contain tighter security standards and can operate in the cloud, on-premises, and as a hybrid without losing the context of the real-time workflow.
Take, for example, Q1 Energie AG. The group-independent energy company comprised of approximately 200 gas stations across Germany is using a connected vehicle network solution to create a smooth in-car experience to step up the ease, speed, and convenience of its customer service. “By using customer data, we are taking customer service one step further, providing relevant offers at the right time,” Q1 Energie CEO Frederick Beckmann explains. “Our customers will never get randomized promotions that don’t apply to them.”
Extending analytics advancements that capitalize on the power of data
As analytics tools evolve and gain greater sophistication, the range of potential use cases broaden to include every business function, even extending into areas that are traditionally slow to apply data-driven insights and capabilities. The adoption of these applications can generate tremendous productivity gains and an improved quality of life.
However, sometimes, companies require the help of trusted partners well versed in technology and business processes to fully capitalize on the power of an enablement platform for data-driven digital strategies. For example, Delaware Consulting is leveraging its experience adopting cloud-based analytics to help customers implement and apply the solution to address their business needs. This constant exposure to the cloud analytics solution empowered the technology partner to create an industry extension for professional services.
With a continuous commitment toward innovation, the right partners can help perfect the delivery of line-of-business and industry business content. This includes data models, KPIs, and customer stories of digital boardrooms experiences and business best practices. And all these capabilities can be supported by sample data that is easy to use, understand, and relate.
In some cases, partners also become customers.
Finding the right cloud-based analytics tools to scale to unique business needs
According to 451 Research, using analytics in the cloud does not require wholesale abandonment of existing on-premise investments. Instead, the aim is to enable businesses to continue to use their longtime BI platforms with a view on deploying cloud-based analytics for new projects and use cases.
Such a strategic focus on adopting cloud-based analytics gives growing companies an opportunity to innovate and launch business intelligence initiatives. They can, for example, blend data sources, use predictive analytics, visualize trends, automate processes, run ad hoc reporting, and leverage location intelligence for mobile devices, remote laptops, and in-office desktops. And more importantly, midsize businesses gain a significant growth enabler – immediate insights at any level of detail, from a single data point to an entire model, anytime and anywhere.
Discover how your business can take advantage of the hybrid cloud analytics strategy from SAP by reading these reports:
- 451 Research: “SAP Looks to the Cloud with a Hybrid Analytics Strategy”
- BARC: “The BI Survey 18”
Also, don’t forget to follow us on Twitter @SAPAnalytics for the latest analytics news, updates, and innovations.