In the ever-evolving landscape of technology, business intelligence trends are not just a passing phase but a crucial aspect that shapes the functionality and strategy of enterprises across the globe. The continuous flow of data and the necessity of businesses to extract valuable insights from this data has brought to light several trends that are set to redefine the future of business intelligence (BI).
Table of contents
- 1. Embracing the Cloud: A Necessity, Not a Choice
- 2. Self-service BI: Empowering Data Literacy Across Organizations
- 3. Data Science: A Niche Yet Pivotal Skill
- 4. Augmented Analytics and Automation: The New Normal in BI
- 5. Embeddable Data Stories: Making Insights Accessible
- 6. Natural Language Insight: Simplifying Interaction with BI
- 7. Data Governance: Ensuring Compliance and Security
- 8. Mobile Analytics: A Staple in BI
- 9. The Integration of AI and BI: A Symbiotic Relationship
- Conclusion
1. Embracing the Cloud: A Necessity, Not a Choice
The COVID-19 pandemic has underscored the importance of cloud BI verticals, especially in accommodating a largely remote workforce. The shift towards cloud BI and analytics platforms is not merely a trend but a vital operational shift, ensuring businesses can adapt and navigate through unforeseen challenges. The cloud doesn’t only offer a robust platform for handling BI tasks but also provides industry-specific solutions, ensuring customization and automation are at the forefront, particularly in sectors like banking, manufacturing, and healthcare.
2. Self-service BI: Empowering Data Literacy Across Organizations
The surge in data trends has seen a significant push towards self-service BI, driving data literacy initiatives across various industries. The democratization of data, where design and execution of reports and analytics do not necessitate advanced technical skills, is pivotal. This trend is not merely about providing tools but fostering a data-driven culture, ensuring that every step, from project inception to completion, is informed by data.
3. Data Science: A Niche Yet Pivotal Skill
The ascent of citizen data scientists notwithstanding, data science will maintain its specialized stance, particularly in executing intricate calculations and formulating predictive models. The overlap of self-service information discovery and data science roles has spawned a new breed of data professionals, ensuring that data-driven decision-making permeates every level of the business.
4. Augmented Analytics and Automation: The New Normal in BI
Automation and augmented analytics are not just BI trends but have become integral in managing the increasingly complex volumes of data. The incorporation of machine learning (ML) and natural language generation (NLG) into BI processes ensures that forecasting and predictive analytics are accessible to a wider audience within the organization.
5. Embeddable Data Stories: Making Insights Accessible
Embedded analytics has become synonymous with integrating data into daily business operations. This trend ensures that data is not only collected but is also utilized in a manner that is seamless and integrated, ensuring that businesses are always operating on a foundation of data-driven decision-making.
6. Natural Language Insight: Simplifying Interaction with BI
Natural language processing (NLP) is not just a trend but a revolution in the future of business intelligence. It simplifies the interaction with BI tools, making data discovery as straightforward as asking a question. This advancement is not merely about ease of use but about making BI accessible and inclusive.
7. Data Governance: Ensuring Compliance and Security
Data governance has emerged as a primary consideration when selecting BI software. Ensuring data is secured per industry standards and maintaining compliance is not just about adhering to regulations but also about building and maintaining customer trust.
8. Mobile Analytics: A Staple in BI
Mobile analytics, one of the steadfast data analytics trends, continues to form a significant part of BI, providing valuable insights into user behavior and aiding in optimizing customer experiences. The challenge and focus moving forward will be on capturing accurate insights while ensuring compliance and data security.
9. The Integration of AI and BI: A Symbiotic Relationship
The integration of artificial intelligence (AI) with BI tools is not just a trend but a necessity in navigating through the vast and complex data landscapes. The synergy between AI and BI ensures that insights derived are not just data-driven but also predictive, providing businesses with a foresight that is crucial in strategic planning.
Conclusion
The business intelligence trends highlighted above are not isolated phenomena but interconnected aspects that will shape the future of BI. From embracing the cloud and ensuring data governance to making BI accessible through NLP and self-service platforms, these trends underscore the necessity to not just adapt but to anticipate and prepare for a future where data is the cornerstone of decision-making.