The Five Trends Emerging In Business Intelligence And Analytics

By Author: mayur aegis
Total Articles: 64
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For improving outcomes, revenues, customer relationships and operational efficiency businesses or organizations use various information assets thus BI solutions and analytics are very much in demand these days. Well BI user community’s changing demands and expectations are rising and thus it is more challenging to cope up with them. Gone are the days when customers were satisfied with IT-driven applications, canned business reports or limited access to historical data. They demand more and more like more analysis capabilities, faster development, better visualization and much more.
By watching closely the emerging trends of technology organizations wants the next great competitive advantage also while using Business Intelligence software and BI solutions. So here we will see the most 5 emerging trends that drive implementation of emerging, cutting-edge technologies for BI and analytics. Earlier 4 focus on changes wrought by user demands that give more self-service capabilities and access to broader selection of information. The last one shows the end game of BI solutions where the key objective is process efficiency ...
... that is automated decisions.
Discovery of Data is what accelerates Self-service BI and analytics: BI solutions provide non-technical users with tools and capabilities to access, analyse and share data on their own but it is not easy as said. Due to IT-driving applications standard and common approaches made to extend enterprise BI and data analysis capabilities have become more difficult and also slow. To get the requirements right for data, reports, visualization and drill-down analysis capabilities gives incomplete satisfaction. When the time comes that the user gathers all the requirements and turns into applications features he is again surrounded by different requirements. Thus use of new tools are putting pressure on BI solutions to catch them up so users get greater self-services and more BI agility without sacrificing on depth and flexibility of analytics.
Unified access and analysis of all types of information which helps in improving user productivity: More users within an organization when implements Bi and analytics tools there arises a question about all the information the lies in text or document formats, which is a large portion that users encounter. Organizations have to pay a cost for its productivity if they find difficulty in find any information whether it is structured or unstructured. So if BI commits improved productivity then it should help users to access and analyse all information. Now with high rise in content that is stored and generated in digital form users are demanding better integration for all of them so they can be accessed well in time. Integration helps managers as well as frontline workers to see the context surrounding the numbers in structured systems while enabling them to uncover opportunities and find causes of problems quickly. By unifying and advancing the data trend in BI software the managers and employees will be able to access, use and find root causes quickly. All these improve productivity and efficiency.
Social Media drives innovation in customer analytics by generating big data: Customer data intelligence is a major driver now. Modern organization opts to mine each data for improving buying patterns and product affinities. This is the age of social media with Twitter, Facebook and other such sites which customers use for influencing others. Thus the race is to get business from social media and that can be done with established BI software, analytics and data warehousing systems if they are integrated and incorporated.
Analytics of Text enabling organization to interpret social media sentiments and commentary
Decision Management Enables Organizations to be Predictive and Proactive in Real Time
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