Enterprise Business Intelligence Trends That Can Enhance Your Business |
Posted: October 2, 2019 |
How your business fares in the next years will be determined by how well you align it to the latest advancements in technology, mainly Business Intelligence. The role of Business Intelligence in shaping and boosting your enterprise is all set to attain deeper significance with newer trends in the pipeline. Let us find out what Business Intelligence Trends will prevail in the upcoming years. 1. Actionable insights using AI Businesses will gradually spend less on analysis of raw data, and rely more on AI to garner insightful data. It will also reduce their dependency on data scientists; AI applications empowered by machine learning in business intelligence and Natural Language Processing will help in acting upon those insights. 2. Rise of embedded analytics Businesses will focus more on making decisions at ‘runtime’ along with long-term planning, to achieve maximum efficiency. A solid amalgamation of data analysis and business process capabilities will propel them towards this focus of making plans on the go. Integratingor ‘embedding’ data analytics into existing enterprise applications will offer more business intelligence ideas that help in garnering higher profits, thereby empowering businesses. 3. Regulated data monetization The future of business intelligence will see the prominence of data trade as a legitimate profession. Data monetization is already in vogue, as we know about top brands who have been doing it like Google and Facebook. But going forward, more and more businesses will be able to derive profits using data. They will earn more revenues, either by selling or by spotting better and more accurate profitable opportunities using the data that they store in their warehouse. This is in fact set to be one of the most significant business intelligence trends 2020. 4. Evolution of digital assistants With greater advancements in AI and Business Intelligence, digital assistants like Alexa and Siri will be empowered to transcribe language. They will acquire greater efficiency in the transcription of language into a structured data format that can be used to derive actionable insights. Human resources of companies will use smarter digital assistants to perform these actions. And that, in turn, will reduce the total turnaround time for projects, and make it absolutely seamless. 5. Data job profile diversification With data becoming the most valuable asset a company can possess for doing better business, there will be no dearth of data jobs. But very interestingly, the job roles and responsibilities will diversify by leaps and bounds, resulting in the creation of newer roles that demand rapid specialization. As data volumes keep on increasing, the demand for all these different data jobs will also keep surging. And given the Big Data scenario which is expected to cover more and more important milestones, there will be no chance of a drop in the requirement of data job professionals. Conclusion Going by these five Business Intelligence Trends, it is not hard to realize what businesses need to do, to amp up their game amidst stiff competition in 2020 and beyond.
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