Businesses these days possess an abundance of data. In this fast-paced environment, everyone needs real-time data access to make data-driven decisions anytime and anywhere. Mobile business intelligence (mobile BI) refers to the ability to provide business and data analytics services to mobile, handheld devices, or remote users. MBI enables users with limited computing capacity to use and receive the same or similar features, capabilities, and processes as those found in a desktop-based business intelligence software solution. MBI works much like a standard BI software/solution but it is designed specifically for handheld users.
Modern business is not confined to the physical boundaries of the office. The prevalence of mobile and handheld devices means you can take your work anywhere, from the local cafe to an international flight. With sophisticated computers, you already carry everywhere you go. Any place can serve as your temporary office. And with business becoming ever more mobile and flexible, the logical next step is mobile business intelligence.
Mobile business intelligence solutions are deployed to keep pace with rivals and to try to gain an advantage over the competition. The report profiles cloud and on-premise providers of business intelligence software and service for managing data for SMEs and large organizations, which are widely deployed to apply analysis and modeling to large volumes of enterprise data, and produce meaningful reports and visuals summarizing business information.
Benefits of Mobile Business Intelligence
Improved Decision Making
Mobile BI solutions are built to support mobile communication and will have messaging functionality built-in. Some Mobile BI tools are equipped with more complex collaboration mechanisms to allow the transfer of rich content such as voice, images, or videos. These functionalities allow executives to collaborate during data analysis, to help them draw well-rounded insights, which is key in making better-informed decisions. When it comes down to it, Mobile BI tools go beyond enabling collaboration, into giving you greater value from collaboration.
Access to Real-Time Data
Getting company insights at your fingertips is the most valuable advantage of mobile BI. You are not limited to one computer in one location, but instead, you can access important data information on your mobile device at any time and from any location. Having real-time data insights always available helps improve the overall productivity of your daily operations.
Configurable and Structured Analytics
Every business has different data analytics preferences – either in process, visual representation, or integration with other tools, to name a few. Because of this, just like their desktop counterparts, Mobile BI solutions are built with customizability in mind. Mobile BI users can apply their configurations to the tool to consume information the way they need it. With their configurations in place, executives can be more efficient in analyzing their data and drawing insights, expediting their complete analytics process and ultimately, decision-making.
The use of mobile Business Intelligence (BI) applications is growing rapidly. Businesses are deploying effective mobile BI methods to flourish in the business space and to deal with competition effectively. Mobile BI offers notable advantages such as quick access to real-time information, a higher rate of penetration, and increased productivity. Therefore, Mobile BI has become critically important for businesses to achieve higher profits.
The mobile business intelligence market is expected to register a CAGR of 22.43% over the forecast period 2021 to 2026. In the present scenario, devices with advanced capabilities, such as AI and ML, are emerging across industries, representing the latest wave of rapid progress. These technologies are redefining the way businesses work, enabling machines to do things that were possible by humans only. Data visualization tools have been increasingly used for analytics in various organizations over the years. They are used for designing infographics and charts, as well as building BI dashboards and performance scorecards. These charts and dashboards display visualized data on business metrics and key performance indicators in an easily understandable way.
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