It’s well documented that data is now a pivotal part of business success—and one that will only grow more integral as the enterprise becomes increasingly connected and intelligent. While this has implications for every department and function, none of these gains would be possible without a solid business intelligence (BI) strategy and platform.
With that in mind, let’s take a look at some emerging BI trends on the horizon.
- More integrated BI systems: To fuel the data-driven insights necessary for success in the digital age, BI capabilities will become more tightly embedded into core applications and systems. These interconnected systems will simplify the sharing of data across departments and also empower non-technical stakeholders to make better decisions, faster.
- More intuitive BI technology: Machine learning (ML) innovations will continue to make BI tools more intuitive and predictive. As TechHQ’s Jia Jen Low recently elaborated, “The development of BI systems to be more predictive will lead to the expansion of labeling data content more effectively and provide insights according to the context of the proposition. For example, an ML-enabled BI tool will be able to tailor its response to suit the inquiry of the user.”
- Self-sufficient BI systems: Another ML-enabled advancement may emerge in BI platforms that proactively showcase data they have learned through experience to be significant or likely to drive business action.
As BARC put it in their recent BI Survey, heading into the new decade “a key challenge is emerging: the efficient and, at the same time, innovative use of data is only possible when capabilities for—and the operationalization of—both analytics and data management are ensured.”
As such, in addition to investing in the business intelligence trends outlined above, it’s also critical that organizations allocate resources to data quality, master data management, and data discovery projects, and ensure they encourage a culture of pervasive data access and sharing.