In the recent years, Business Intelligence (BI) has become a very popular technology for businesses. From analyzing consumer behavior to operational efficiency, companies are using BI tools to get clear insights into all aspects of business.
With increasing demand and varying needs, the BI landscape is also changing rapidly. Below are some key trends that are leading this change:
- Evolution of Self-Service BI
Not everyone using a BI is a techie. Keeping this in mind, BI tools have re-structured themselves. Be it a front desk executive or a sales guy, anyone can now start using the tool quickly. A statistics or a data analysis background is no more needed.
- Interactive, engaging Visualizations
BI tools are all about graphical representation that is easy to understand and interpret. The higher the quality of visualizations, the better is the tool. The new age BI tools are now ready with snippet based interactive visuals that can be generated and changed in a single click.
- Analytics on the go
Traditionally, BI tools were not mobile friendly. Companies thought that their data is confidential and linking it to mobiles could be an information threat. But not anymore. With more and more users getting on mobile, BI analytics are adapting to this change too. All you need is an app that is easy to use and secure.
- The Rise of the Cloud
Being on cloud has become a mandate for modern day technologies. As more and more businesses move to a SaaS model, BI would have to scale up their cloud connectivity.
- Tech Savvy SMBs
Small and medium businesses have become increasingly adaptive of BI technologies. This segment has varying needs and a standard BI system may not always work for them. To tap on to the potential of this market, BI players would have to come up with options that fit the business needs and pocket both.
- IoT and Real-Time Data
“The Internet of Things [IoT] will continue to bring in newer opportunities for real-time data analytics and visualizations.BI tools would need to scale themselves and deliver data from multiple connected devices, real time.