Hi Five With 5 BI Trends In 2017
The year 2016 was the year for business intelligence industry. BI landscape is evolving and emerging trends in business intelligence have to keep a watch. The business intelligence strategy will need to be customized for every business in the year 2017.
Businesses today can no longer just keep asking for the need of business intelligence analytics solutions but instead are showing more concern about what would be the best BI solution for their specific business? 2017 will be an year which will see more of collaboration and embedded BI tools. It will be an year of digitization and artificial intelligence.
Let us have some close look at Business Intelligence trends and predictions of 2017:
1: Artificial Intelligence (AI)
Artificial Intelligence is the number one trend by Gartner in their Strategic Technology trends reports of 2017. AI is the science which aims in making machines execute what is usually done by complex human intelligence. AI and machine learning are revolutionizing the way we interact with our analytics and data management.
IoT and real-time data analysis tools are increasing and are bringing forth the boundless amount of data which will promote the statistics analysis and management at the top of the priorities list. Businesses today want to succeed and predictive analytics is another trend which has to be closely monitored.
“More than half of all large organizations worldwide will use advanced analytics and algorithms built on them to be more competitive by 2018”, — Gartner Predicts
AI by being in the heart of those algorithms will understand the data and can predict what is upcoming. With its deep learning, the machines will probably make the machines operate autonomously and take a decision in the place of a real person.
2: Cloud Analytics
The one who stays updated with Business Intelligence trends can easily understand the pervasiveness of cloud. Cloud will continue its reign as innumerable companies are using cloud and therefore cloud-based tools are readily available in the market. Also, entrepreneurs are learning to embrace the power of cloud analytics where primary elements are analytic models, data storage, data sources, data models which are located in the cloud. Sata gravity will push businesses to deploy their analytics where their data lives, in 2017. Cloud data warehouses like Amazon Redshift will continue to be popular data destination. Cloud Analytics will become more prevalent. It will increasingly represent a faster and more scalable solution.
3: Embedded Business Intelligence
Another Business Intelligence trend and prediction for 2017 is embedded BI. With embedded BI you can turn raw data into interactive dashboards. This enhances user experiences with real-time analytics and ingenious data visualizations. Such innovative data enable people to make faster data-driven decisions on their own. Collection of data has become easier than ever before, but survey says that by the time business users will get these reports and dashboards, it will be too late to undertake any action. This is where embedded BI comes into the picture. Therefore, BI analytics helps in facilitating in dealing and addressing the issue in shifting from reactive analytics to proactive analytics.
Security undoubtedly is one of the biggest business intelligence trends in last few years. There have been reports of data breaches and data security issues in the news which includes huge data losses by big brands such as Compass Bank, AT&T, LinkedIn, Apple, JP Morgan Chase and AOL. is, without doubt, one of the biggest business intelligence trends in the last years. Though the big companies will only raise concerns, but the small businesses are also suffering the same issues. Their database security will be becoming a hot debate in 2017. Entrepreneurs will be soon searching for some other secure and viable solution which will prevent the risk of data breach and losses.
5: Collaborative Business Intelligence
In 2017 Collaborative Analytics will be taking center stage. As manager and co-workers, today need to interact more and differently as they face always more competitive environment. We see a new kind of business intelligence rising which is nothing but the collaborative business intelligence. Collaborative BI is nothing but an amalgamation of tools, social media and other 2.0 technologies along with BI software. This will make sharing easier in generating automating reports which can be scheduled at specific times and to specific people. Intelligence alerts, sharing public or embedded dashboards gives flexible interactivity and these possibilities are available on all devices. This increases the decision-making and problem-solving processes.
Be Data-driven in 2017
Some trends are discussed above but business intelligence will see lot many positivities with coming year. In 2017 organizations will increase focus on data governance and data quality. Digitization is another in vogue information-intensive process which is of great benefit to businesses. Replacing software with paper and manual processes enable businesses to collect and monitor data in real time. 2017 will foresee more of data-driven approach in BI world. 2017 will be an exciting year with the extracting maximum value from state-of-the-art business intelligence software.
Share with us other BI trends which you think will be rocking in 2017!