Introduction

Many companies are still struggling to select a good business intelligence (BI) platform. Data becomes more important for business success every year. The scope of BI is expanding. BI helps you break down your data and see the patterns in it, giving you insight into your business and industry. This is how companies make data-driven decisions, keeping their trajectory in line with their business goals.

As this year 2021 ends, let’s explore some trending topics in the evolving realm of business intelligence in this blog post:

Data literacy

Over the years, the usage of data in many industries has evolved. Many users in every organization are actively analyzing their data every day. With the gained insights, companies are able to identify customer needs, improve the quality of their products, explore opportunities, and gain more revenue. The ability to read, write, and communicate with the data is known as data literacy. By giving organized training on analyzing data to employees, businesses can achieve more. For example, if you are managing a marketing firm, you have loads of data resting in your systems. Giving organized training on data extraction, cleaning, and organizing helps them avoid dependency on your IT team. Proper knowledge about working with your organization’s data empowers your employees. Marketing insight directly from marketing experts will help you increase the revenue of your company.

Data governance

Data flows across the organizations using various mediums. All the gathered data is not entirely usable. To use the data properly, every business needs to implement a set of processes, an operational infrastructure that helps you govern and store data properly. Data governance lets you find and rectify the inconsistencies in your data and enables you to manage data assets and protect them within the organization.

Implementing a proper data governance system helps you institutionalize the data flow within your organization. You can achieve high accuracy in the data and maximize the value of data analytics. By using only accurate data, you can derive proper and actionable insights, which helps you in achieving your business goals.

Data security

In the 21st century, data security and data privacy have become two of the most salient topics. Enormous amounts of data are stored daily within organizations. As new technologies grow, the necessity of protecting data also becomes more important. Data security prevents the data being accessed, manipulated, modified, or erased and it is as important as using the data.

Data also needs to be protected from accidental tampering by employees. By providing data access based on job roles and monitoring that access using a dashboard, you can limit potential damage and track who has accessed what data. This will let you narrow down the source of any data modifications or deletions that negatively affect your data quality.

Data democratization

Data democratization is making data accessible to all employees in an organization. All users can access data, track their departments’ metrics, and help their company’s growth. Data democratization helps many organizations get closer to their vision of becoming entirely data driven.

With the proper implementation of data democratization in your organization, your nontechnical teams, such as sales, marketing, business analysis, and executive teams, can uncover brilliant opportunities for your company. Refer to this blog to learn more about data democratization.

Data quality management

Data quality management consists of the processes and practices of constantly maintaining a high quality of information. Data enters an organization in various ways, so not all the data is accurate and perfect. It may be outdated, duplicated, or inconsistent. If it is not accurate and consistent, you cannot use it to make important decisions.

Data quality management includes the process of identifying poor-quality data, cleaning it, and making it usable with your business intelligence platforms. With the proper data quality management system, you can gain insight into your business from the data and use that insight to improve your organization. Refer to this blog to learn more about data quality management.

Self-service BI

In most organizations, only IT teams have data access. But even nontechnical employees are capable of using business intelligence tools. Data democratization is possible with self-service business intelligence. Employees use these tools to analyze, summarize, and visualize data without any support from IT teams and data analysts.

Teams can examine their own KPIs and gain insight into customer satisfaction, logistics plans, and inventory management that will help them make useful improvements. Refer to this blog to learn more about self-service BI.

Predictive analytics

Predictive analytics is a set of techniques that includes data mining, modeling, machine learning, statistics, and artificial intelligence that predict future outcomes. Using historical data, you can apply mining models to predict future events. You could use predictive analytics models to analyze the purchasing patterns of your customers, and then use that information to recommend additional products and services to the customers most likely to purchase them. Even with a minor rate of success, this simple strategy would boost your business profits.

By feeding predictive analytics models with the right historical data, you can actively monitor and predict market trends. You can keep adequate inventory, which improves customer satisfaction, and increase revenue. Refer to this blog to learn more about predictive analytics.

Embedded analytics

Integrating analytical and data visualization capabilities into a software application is known as embedding analytics. Embedding analytics helps the end user analyze their data within the software application by embedding easily comprehended reports and dashboards. Embedded analytics help administrators and key decision makers get timely and relevant insight into their data within their usual workflow.

Embedded analytics opens up a world of possibilities for your business. The thoughtful implementation of embedded analytics, built on a solid foundation of data transformation tools and best practices, sets the stage for enhanced efficiency, stronger strategic positioning, and improved customer satisfaction — all of which drive revenue and grow a business. Refer to this blog to learn more about embedded analytics.

Conclusion

I hope now you have a clear idea on the trending topics of business intelligence for 2022. In your business journey, Bold BI helps you visualize your data to gain insight from the patterns within by tracking all your important metrics and KPIs in real time.

Bold BI helps you integrate dashboards in your applications written in ASP.NET Core, ASP.NET MVC, ASP.NET, and Ruby on Rails. It will save you time by helping you avoid redundant work. To learn more about embedding dashboards into your application, refer to this blog and our documentation. You can create a dashboard any way you like with Bold BI’s 35 widgets and 130 supported data sources.

To get started with Bold BI, schedule a free 30-minute demo with our experts about creating dashboards and any other features you would like to learn more about. You can contact us by submitting questions through the Bold BI website or, if you already have an account, you can log in to submit your support question.

Originally published at https://www.boldbi.com on December 29, 2021.

Top 8 BI Trending Topics for 2022