Businesses are changing their methods on a daily basis.
What works for you today may require modifications or a complete overhaul tomorrow. This evolution in business intelligence has rendered some traditional business processes obsolete, and has created the need for businesses to bank on the latest technology trends.
Here are the top 10 business intelligence trends you need to follow:
#1. Don’t Fear AI: Artificial Intelligence, machine learning and automation are benefitted businesses greatly, as it reduces time spent on monotonous tasks and leaves time for employees to be creative.
#2. Liberal Arts Impact: As technology platforms become easier to use, people with broader skills, including the liberal arts, can be included on teams and drive impact where industries and organizations have a data worker shortage.
#3. Promise of NLP: Natural language processing has opened up doors for big data analytics. However, it is important to understand that simply implementing NLP will not help, but what needs to be done is to incorporate NLP in the right workflow.
#4. Multi-Cloud Debate: Evaluating and implementing a multi-cloud environment will benefit your business greatly. You can make a choice between public, private or hybrid cloud setups depending on the kind of data you require.
#5. Rise of the CDO: Data and analytics are becoming core to every organization. Therefore, just as any other process requires a manager, a Chief Data Officer is becoming a required position in every organization.
#6. Crowd Sourced Governance: As people are learning to use data in more situations, their input on better governance models is becoming a monumental force within organizations.
#7. Data Insurance: According to a 2017 Ponemon Institute study, the average total cost of a data breach was estimated at $3.62 million. The demand for data insurance is on the rise, and is crucial for businesses to sustain.
#8. Data Engineer Role: As data analytics becomes an integral part of business administration, the role of a data engineer becomes more and more important in ensuring judicious usage of data.
#9. Location IoT: Internet of things (IoT) has driven monumental growth in the number of connected devices that interact with each other and capture data to create a more connected experience.
#10. Academics Investment: The study of data is no longer just an optional elective, but a mandatory one. Therefore, courses on data analytics and reporting must be introduced in various curriculums.
Following these trends and integrating key elements and functions into your team, will help to sustain your business over time.
If you want to know more about these 10 business intelligence trends, click the link below for more information.