Business needs a lot of interaction of people to make it work and to ensure efficient process
flow of each system working in the organization. To maintain the efficiency, it needs DATA!
Data never stops, and neither does business – regardless faced very unprecedented situation last year worldwide by COVID-19pandemic. It’s the high time for business/enterprises to make data driven decisions with the help of Business Intelligence. Over a past decade, Business Intelligence has made disruptive changes in the corporate Industry. Generation data is very fast and it’s becoming massive. Spreadsheets finally taken a back-support to show actionable and insightful data visualisation and interactive dashboards. Having business insights dashboards will helpful for making customized strategies.
This year more and more businesses are adopting cloud-based BI, particularly more valuable in remote working time, Business Intelligence system make it possible for various user group access data and dashboards, from any location 24/7. Businesses started their data to migrate from om-prem database to cloud to make it more accessible by the user group. It reduced the manual work of MIS, maintained, and upgrades in organization. Increased the flexibility and scalability for reaching out to the data with greater cost efficiency and lowering the cost with more security provided.
Update to date and real time data have become life blood of businesses, it became more crucial during the last couple of years. Quick updates of data by having cloud systems will give power to analyse the new trends and patterns in the data. Analyst can now quickly analyse the upcoming ups and downs. Using this data to make the best possible decisions, and companies followed to ensure survival in these uncertain times. Real-time access to data has become a norm in everyday life, not just for businesses, but the general public as well, where we could see press conferences filled with the most recent information, graphs, and statistics that have defined some of the strategies against the pandemic.
Natural Language Processing bridges the gap between human and computer by teaching computer software how to accurately translate human language. It’s a new introduction to the business Intelligence has come in the industry which has been in trends now. This is the technology you use is used in Siri and Cortona which answers your questions, same in BI as well. Most used tools in industry Tableau and PowerBI has integrated these features in their software. These tools allow you to frame a question in simple natural language and it will return back expected data in visual forms. As NLP will growth and reach at a particular level it will be very helpful for audience which is coming from the non-tech background.
Having the ability to track the KPI’s with is a big advantage for business, tracking the whole metrics and dashboard from mobile is becoming so important. In fact, it is the most prominent emerging trends in Business Intelligence in 2021. Almost more than 3500 working professionals rated this feature on the top 3 required for enhancing real time data tracking. The issues which are still right now faced by the people for limited screen and clumsy visual, will be handle in future updates soon.
97% of the BI professional are expecting to see a huge growth of AI in BI industry. AI and ML can also be integrated in business strategies related to BI and analytics. AI is Smarter, more responsible and scalable when compared to the existing model and algorithms in terms of learning and performance as compared to the ones which are currently used in BI systems. BI having the capabilities of AI will make the work easier for data professionals as well in terms to detect anomalies detection and analyse the unexpected event and can make data point those normalize to present the most useful information.
Storytelling the becoming key skill for BI professionals as to make the data speak for itself. Providing the deep insights to the stake holder to understand each and every up and down in the data. Storytelling is putting the words in the numbers and text present in the data, tunning the data into actional insights that you can share with stakeholders. Data visualization turns data into graphics and charts that are more easily understood than blocks of text and numbers. Both methodologies explain insights to audiences in engaging, digestible ways and are essential to empowering everyone in an organization to fully understand and act on data.
Automation can take care of your boring and repetitive tasks which are time consuming for humans to do manually. Freeing up those time can save the resource’s energy and efforts. As data is increasing with every second, it becoming more and more essential to remove all the manual work which is done by the humans and bring the automation and delete all the manual process. It can help the cost saving for the business and can rapidly analyse the data and make quick decisions to support the growth.