10 Business Intelligence Trends for 2016
Business intelligence (BI) continues to one of the fastest growing trends in enterprise. In 2015 many changes took place in terms of business intelligence as more and more organizations have started to open up data to their employees and also more and more people came to see data as an important tool to get their work done.
Now, when we are in 2016 the business intelligence is changing constantly. Business Intelligence is not a single entity. It is fed by technologies like cloud services, big data, predictive analytics and data science and each of these continues to evolve in a very disruptive fashion as we move into 2016. So what will be trending in the year 2016? Here are the top predictions for Business Intelligence market in 2016:
1. Governance and self-service analytics collaborate: Most of the organizations have now learnt that when done right, data governance can help in meeting various demands of the business. Now, people rely on their data when they know that they have centralized and fast data sources and when they know that someone is keeping an eye on the security and performance.
2. Visual analytics becomes a common language: Data is the hot topic every time, everywhere including media, social media and boardrooms. People these days are envisioning their data so that they can share stories and explore more questions with both data experts and non-experts. As the usage of data is increasing, more people are turning to data with both personal as well as professional questions. And employers will also prefer hiring those employees who can think only with keeping data in mind. Visual insights will allow people to reach visions rapidly and build a strong community around data thus serving as the common language.
3. Insights will become more sharable: Data becomes more valuable when it is shared. And the insight which is protected that is stored on a desktop, protected by senior management or secretly kept in a spreadsheet has the slightest impact. But those insights which are rapidly shared by an organization throughout can lead to a positive change starting movements and that too very quickly.
Since few years, many of the BI platforms have started adding BI features to comments and annotations, broadcasting and also embedded BI. To simplify data storytelling and important decisions in meetings, in 2016 the BI platform will be embracing collaborative features like Trello-like Kanban boards, Facebook-like social Timelines and PowerPoint-like Storyboards.
4. Connecting to cloud data sources will become easy: In 2016, the number of data sources which are connected to analytics platform are going transform completely as connecting to cloud-based data sources is going to become as easy as connecting to on-premises databases. Many of the analytical tools will be moving to the cloud so connecting to the data sources in the cloud is going to be only a click away.
5. Data integration goes to the next level: With so much competition all the organizations want to get the right data to the right people and that too very quickly. But this comes with a very challenging and time consuming task as data is stored in many different places. In 2016, many sophisticated tools and the addition of new data sources will be introduced and companies will stop gathering every byte of data at the same place. Rather, people will connect to each data set combining it with more tools and methods.
6. Cloud analytics will become popular: In 2015 many people cleared all their misconceptions regarding cloud and finally adopted it and also realized that cloud analytics allows them to be fast. In 2016, more people are expected to adopt the cloud especially due to the advance tools which help them in consuming web data. The organizations who have already adopted cloud are learning from this data and others are planning to adopt it soon. Also, more companies will be using cloud analytics to analyses more data quicker.
7. The rise of analytical applications: As many of the organizations are moving to the cloud, they are realizing that they can increase sales by providing customers with valuable insights available in the storage history. In 2016 a large number of organizations will be constructing their own analytical applications for their partners and customers.
8. The Rise of API Deployment: In 2016, the organizations will be widely using SaaS apps to match or remove enterprise applications and with the continuous increase in mobile apps, the need for APIs and cloud connectivity will also increase.
9. Stories will be preferred over facts: Stories are easy to remember as compared to the facts and in 2016 the value of storytelling within BI platforms will increase. If you want to make an impact on your customers/ audience then telling stories with data is more impactful and memorable and influential. In other words, data analysis is more about telling a story from data and charts leaving a good impact.
10. Turning insight into action: Business Intelligence is going to get action oriented in 2016 as in it will become a platform through which business users will be able to create and allocate tasks to the users. While the other task can be triggered automatically when the data reaches various thresholds.
These above trends in Business Intelligence are going to rule 2016 and will help the enterprises to address their data analysis issues. This will help an organization to grow and derive business intelligence information in beneficial formats.