One of the main advantages of using business intelligence cloud applications is cost savings. Traditional on-premise BI solutions require significant upfront investments in hardware and software licenses. In contrast, cloud BI applications are typically subscription-based, allowing organizations to pay only for the resources they need. This eliminates the need for large capital expenditures and reduces ongoing maintenance costs.

Additionally, business intelligence cloud applications offer scalability that is not possible with on-premise solutions. Organizations can easily scale their infrastructure up or down based on their changing needs without any additional hardware or software installations. This means that businesses can quickly adapt to fluctuating workloads and ensure they have enough resources to handle peak demands.

Business intelligence cloud also provides greater flexibility compared to traditional systems. Employees can access data from anywhere at any time using web browsers or mobile devices. This allows for remote work and collaboration across different locations and time zones, enabling more efficient decision-making processes.

Moreover, cloud-based BI applications provide real-time data access, allowing organizations to make faster and more informed business decisions. With traditional systems, data updates may take hours or even days to propagate throughout the organization's network. In contrast, cloud-based solutions provide instant updates so that decision-makers have access to the most up-to-date information at all times.

Another advantage of using business intelligence cloud applications is enhanced security measures provided by reputable service providers. These providers invest heavily in security measures such as encryption protocols and multi-factor authentication to protect sensitive business data from unauthorized access or breaches.

In addition to these benefits mentioned above, there are several popular Cloud Business Intelligence tools available today:

1) Tableau: Tableau offers a comprehensive suite of tools for visualizing data in a user-friendly manner through interactive dashboards and reports.
2) Microsoft Power BI: Power BI allows users to connect multiple data sources into a single dashboard for comprehensive data analysis.
3) Google Data Studio: Google Data Studio integrates with various Google services and offers intuitive drag-and-drop features for creating customizable reports and dashboards.
4) Looker: Looker is a cloud-based BI platform that focuses on data exploration and collaboration, allowing users to share insights and collaborate on projects in real time.
5) Domo: Domo provides a unified platform for managing and visualizing data from multiple sources, enabling organizations to make data-driven decisions.

Despite the numerous benefits of business intelligence cloud applications, there are also some potential challenges that organizations may face when adopting these tools. One of the main concerns is data security. Organizations must ensure that their chosen cloud service provider has robust security measures in place to protect sensitive business information. Additionally, there may be compliance issues related to storing and processing certain types of data in the cloud, especially in highly regulated industries such as healthcare or finance.

Another challenge is the integration of business intelligence cloud applications with existing systems. Organizations often have legacy systems or on-premise solutions already in place, which may not seamlessly integrate with cloud-based tools. This can result in additional costs and complexities during the implementation process.

Furthermore, organizations need to consider their internet connectivity reliability and bandwidth requirements when using cloud-based BI applications. If an organization's internet connection is slow or unreliable, it could impact the performance of accessing real-time data or running complex analytics tasks.

In conclusion, business intelligence cloud applications provide organizations with access to BI-related data while embracing the agility and accessibility of the cloud. These tools offer several advantages over traditional on-premise solutions including cost savings, scalability, flexibility, real-time data access, and enhanced security measures provided by reputable service providers. However, organizations should also consider potential challenges such as data security concerns compliance issues integration with existing systems' internet connectivity reliability before adopting these tools. Overall though it is clear that Cloud Business Intelligence applications are becoming increasingly popular among businesses due to their ability to provide timely and relevant insights that can drive better decision-making and improve overall business performance.