The popular today and tomorrow of Business Intelligence

By arvind | Nov 28, 2018 | 4494 Views

Today's world is all about "Innovate or perish" and the same is applicable across industries, including IT sector. It is constantly changing everything we see and function through its innovations affecting almost every corner of our lifestyles. Rich or poor, technology plays a vital role in many aspects. Now whether you are a budding startup or a well-established enterprise, data is something that has been and will always be an invaluable aspect of all companies across the globe. Due to sudden enhancement in data-driven decisions, the concept of Business Intelligence is trending up to a great extent these days. As a result, more and more organizations have started prioritizing a modern BI approach, and in turn, priming their workforce to be the most analytically savvy generation ever seen.
In fact, several prominent companies have started providing business intelligence services in UK and all across the globe. The following blog just scratches the surface of the major revamp which Business Intelligence promises or is attempting to deliver to Organizations using it. The best is yet to come and hence the future is going to be pretty exciting. Let's keep the fingers crossed and may the Great Expectations see the end it seems destined for!   
And trust me, this will set you apart
Being a businessperson, I am sure you exactly know the message you want to transmit as well as the mission and brand to display. But most of them fail due to lacking thought into the "why" - Why do you think is the message important for the viewer or user? In order to figure out this answer, you need to go for analytics and early planning.
Let's Welcome 2018 with Some of the Top Business Intelligence Trends
AI is your new buddy!
Popular culture is fuelling a dystopian view of what artificial intelligence can do. Simultaneously, machine learning is on the rapid basis becoming a valuable supplement, especially for any analyst by providing assistance and driving efficiency. With such transformation, simple yet basic tasks like basic maths, analysts gain time to think strategically about the business implications of their analysis and plan for next steps. Apart from this, it helps the analyst stay in the flow of their data.
Natural Language Processing (NLP)
According to Gartner, it is believed that by 2020 50 percent of analytical queries will be generated via search, natural language processing or voice. It may quite interest you to know that this concept, in particular, will empower people to ask more and more nuanced questions of data and receive relevant answers that lead to better insights and decisions. It is also assumed that the biggest analytic gains will come from tackling this ambiguity and understanding the diverse workflows that NLP augments. The opportunity will arise not from placing NLP in every situation, but making it available in the right workflows so it becomes second nature to those using it.
Debate for Multi-Cloud Rages On
Again Gartner predicts that "a multi-cloud strategy will become the common strategy for 70 percent of enterprises by 2019." This means as an enterprise grows increasingly wary about being tied to a single legacy solution, evaluating and implementing a multi-cloud environment. By doing this, one will be able to determine well who provides best performance and support for each situation. Now it's time for organizations to access their strategy and measure adoption, internal usage, workload demands and implementation costs for each platform.
Rise of the Chief Data Officer
Like I said before, data and analytics have become important for each and every organization. And most of the time, an unseen gap is formed between a CIO and the business while battling security and governance versus speed to insight. Due to which appointing a Chief Data Officer (CDO) or Chief Analytics Officer (CAO) is trending all over. All he or she requires to do is be outcome-focused, no matter what and ensure a proactive C-level conversation happening about how to develop an analytics strategy from the get-go.
Location of Things will Drive IoT
Location of things being a subcategory of IoT covers devices that sense and communicate their geographic position. By doing this, users will be capable enough to consider the added context of a device's location when assessing activity and usage patterns. The technology is used to track assets, people and even interact with mobile devices like smartwatches or badges. This will offer them more personalized experience. As it relates to data analysis, location-based figures can be viewed as an input versus an output of results.
Liberal Arts in the Analytics Industry
Technology platforms are becoming easier in terms of use these days, due to which the focus on tech specialties has decreased. Everyone can play with data without needing the deep technical skills once required. And this is where people with broader skills, including liberal arts come into the fold. An increased focus and prioritization of data analytics will also put these data stewards in the position of helping their companies gain a competitive advantage.

Source: HOB