August 31, 2019
A BI system is an analytical tool that gives its users the insights they need to make successful strategic plans for their organization. Companies use BI to detect significant events and monitor business trends in order to adapt to the quickly changing environment. Because the changes are impacting us at every level – not only in our personal lives and workplaces but in our communities and the world.
Finally, Excel sheets were pushed aside while allowing users to explore the actionable and insightful data visualizations and interactive business dashboards from a range of various BI tools.
Here are some of the very important BI trends for the year 2019;
Automation of Everything
As the demand for analytics is increasingly rising, simultaneously the scarcity of enough skilled resources is being felt by the organizations at large. Therefore, it is high time that organizations should realize that they need to do more with less and yet perform best. And this is only possible through Automation.
According to Gartner, by 2020 it is estimated that more than 40% tasks of data science will be performed by machines. In cases where BI is concerned, AI (artificial intelligence) can remove any bottleneck whatsoever in terms of acquiring insights, providing the users more time for doing their work better.
Data Storytelling
Storytelling helps in better understanding because people remember stories for a longer period of time. Stories help in better retention. A brand story has a strategic purpose aimed towards a compelling reason for businesses to buy from you. A good brand and its updated functionality can inspire a healthy relationship between businesses and their clients.
Storytelling adds vital statistics to the business context.
Data Management
Data management is one of the newest and upcoming trends in Business Intelligence. Data interpretation serves as the main focus for the future of BI operations. The trends in analytics have shown a drastically risen in the past few years. Data Management comprises of acquiring, managing and distributing the data effectively.
Analytics
As the demand for analytics is increasingly rising, simultaneously the scarcity of enough skilled resources is being felt by the organizations at large. Gone are those days when people used Spreadsheets and Presentations. Currently, with the deployment of BI tools users can create actionable steps in understanding your metrics and take proactive actions to benefit themselves from the trends.
Artificial Intelligence
Artificial Intelligence is the need of the hour. AI can create a realistic image so as to understand the proactive analysis with live dashboards. With the arrival of the Internet of Things (IoT), the demand for real-time data is increasing and bringing in an uncountable amount of data that will help in promoting the statistical situations of the company.
