The information commercial real estate companies can leverage for business intelligence (BI) insight is growing at warp speed. Yet drawing actionable data from this dynamic mass is a pervasive challenge. While major corporate players historically have stayed on top of the data game with state-of-the-art BI software and analytics, smaller ones with limited budgets, not so much. Not so much, that is, until the advent of the cloud and the rise of mobile devices.
Two trends that are shaping business intelligence today
Affordable cloud computing has leveled the playing field for small and mid-sized real estate owners and operators, especially when it comes to BI. In fact, real-time analytics, reporting, monitoring, and data mining, once exclusive to deep-pocket enterprises, are now available 24/7 to SMBs in every vertical. Information is moving out of the data warehouse into everyday business operations.
And with mobile devices outpacing desktop and laptop computers in usage, that data is increasingly being delivered from the cloud to smartphones and tablets. The result? Information design is changing in response to the format restrictions of smaller screens. Traditional spreadsheets are evolving into graphic displays that are easy to interact with, interpret and present. Even dashboards have made the leap from desktop to mobile.
Who needs BI on mobile? A sizable number of companies, apparently, and not just the ones with remote, mobile-dependent staffs. The cloud-based mobile sector of BI is expected to be an $11.13 billion industry by 2021. In fact, it looks to be the fastest- growing sector of business intelligence.
The new BI: what can it do for your business?
Cloud-based BI apps that optimize data presentations for mobile devices seem like the way for SMBs to go. Besides constant accessibility and speed of delivery, they save staff time by eliminating the need for multiple queries. Related information is consolidated into single integrated reports in a variety of easy-to-understand visual formats. Many respond to voice queries.
Integrated data in real-time with a great look. What’s not to like about mobile BI?
It’s still fairly early in mobile BI’s life cycle. Early adopters are enthusiastic, but some concerns do remain. Some question the depth of the data provided. A “snapshot” may not be a robust enough foundation for more complex decisions. Interactions with the small screen can be frustrating. Security is the big concern, especially with the practice of using a single mobile device for both business and personal communications (BYOD). Another is the challenge of choosing the mobile apps that match business needs and goals.
If you’re considering cloud-based BI but have questions or concerns, a Managed Services Provider can provide answers and reassurance. A qualified technical partner can assume full responsibility for managing your business intelligence in the cloud, along with your other mission-critical critical data, freeing you to focus on your core business. Learn more about IBS’s Managed Services offering here.