Every organization, whether it is an SMB or an industry giant, need to introduce changes to their business to stay active in the business. Likewise, the companies offering Business Intelligence Services also need to be dynamic to meet the changing style of data management and analysis of these organizations. Business Intelligence has always seen changes in its features, however, the data related factors will remain the same forever. It will remain the only constant tool to help, manage and use the growing data in the most productive forms. For any business, the broader use of predictive analysis with the help of BI remains the primary factor to accomplish the business goals. Data experts suggest it’s always better not to take decisions based on half of the information available as it can be misleading for the organizational growth.
The need for predictive analysis and information management is high, but the decision makers need to understand how to cater this growing data and transform it into an insightful solution with the help of BI. Here are some of the critical trends of 2016 found by BI experts:
- Information Activists are more active than ever: Consuming information is no more followed by the wise. Data consumers are transforming into analysts and started studying the trends to find out the vulnerabilities and make changes accordingly. BI tools such as Qlikview, Pentaho, Tableau, MSBI etc. facilitates a visual interpretation which helps them to know more about themselves, their society and how they are performing for the selected period of time.
- Administered data has become an organizational necessity: Whether it is you or me, people like us have started analyzing things at a certain level ourselves. But it becomes difficult at the organizational level as the data grows at a great speed and the time to analyze it is limited. Monitored Data has become a priority for companies these days, and this has also enhanced the demand for BI tools. These tools let the users ask the questions like why? And how? Which keeps them from making incomplete decisions based on assumed factors.
- Big Data is not a Big deal anymore: When there was a big hype about big data being the ultimate source of future technologies, many organization invested time and efforts to find a solution which can cater Big Data. More than 37.5% of large organizations found analyzing big data as biggest challenge & Business Intelligence tools as one of the primary solutions. Data analysis is facilitating a use of practical, variant data use cases and transforming data from a complex environment to a visually adaptable one.
- External Sources contribute an enhanced Data context: When the data is interpreted from the internal sources, the probability of getting a wide angle to observe and construe the data, is less. Whereas the external sources help us to introduce the analyst to a broad range of factors related to the data. When we combine these two sources, the context of the data becomes more meaningful and produces better insights and decision-making.
- Data Storytelling drives better engagement: The best thing to make any normal person remember a certain event is to present that information in a creative and interactive way. Interpreting data in an interactive way like storytelling prompts the users to take actions at the right moment. Data Storytelling is the new form to adopt the trends in the market from organization’s perspective.
- Mobile BI is a need of an hour: As discussed in the last blog, Mobile BI is no more a news and everyone who uses BI prefers to find the data on their mobile devices. Enabling a multi-device BI Tools will gain importance and it reflects in people’s actions. The majority of players in BI are introducing the mobile versions which untangle them from their desks and saves their time.
These trends show how the users are becoming more involved with their data than ever before. The Business Intelligence Services has helped them understand their data more effortlessly and implement it in the most productive forms. If you are stuck with any of the BI related queries and need an expert’s advice on the same, eLuminous will be an option worth not missing.