Business intelligence like many other technologies is dynamic and what is working now may need refining in the future. BI solutions are constantly evolving with cutting-edge self-service BI tools designed in order to provide easy access to all the insights of your data.
According to the latest tech news, we have highlighted the following five hottest business intelligence trends to expect in 2018.
- AI to the rescue
Artificial intelligence is one of the biggest trends to hit AI and it’s only getting started. Businesses currently are exposed to so much data that it is quickly getting overwhelming. As data volumes are also increasing tremendously, analytic skills are yet to play catch up. With the advancements in AI technology, it is expected that AI will become more powerful and accessible in the coming years (Stangarone, 2017).
2. Cloud BI
By now all most everyone in the technological field is well aware about the use of “cloud” which refers to data stored on someone else’s server. However one of the major risks associated with using cloud technology was the cybersecurity that it offered. This has turned out to be one of the major concerns for business intelligence experts. 2018 will see some major modifications to the typical cloud architecture. It is expected to provide data storage both on and off-site. Cloud services will soon allow users to choose the data which you can risk putting into the cloud at the same time choosing the company’s servers to securely store sensitive information. Cloud data storage is also expected to become faster, scalable and more flexible.
3. Visual analytics
Visual analytics enables digesting information at a glance thus making data discovery easier for non-analytical people. Business leaders across the globe prefer having data which is presented in charts and graphs rather than in data tables across a number of pages. 2018 will see the rise of business intelligence dashboards that will enable decision makers to access and quickly act upon the available data. Dashboards will also have various other features such as customization and manipulation of any feature of the data. This will help summarize and explain complex data easily to the targeted audience.
4. Rise of NLP
NLP or Natural Language Processing or computational linguistics is a branch of Artificial Intelligence. It works with pattern recognition to improve the understanding of programs by analysing a mass amount of data in order to find correlations that are relevant (Lebeid, 2017). NLP is expected to empower and encourage people to ask more nuanced questions of data in order to receive answers which are expected to increase the accuracy of everyday decisions.
5. Augmented analytics
Augmented analytics is the combination of several processes that could ultimately provide users with a simple, accurate, actionable and data-driven answer. The processes would include augmented data preparation, data discovery, data science and machine learning. Augmented analytics makes use of machine learning for automatinf data preparation, insight discovery and sharing for a broad range of business users and data scientists (Schue, 2017).
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- Stangarone, J (2017) “5 Business Intelligence Trends to Watch in 2018” MRC [online] available from: https://www.mrc-productivity.com/blog/2017/11/5-business-intelligence-trends-watch-2018/ [accessed January 2018]
- Lebeid, M (2017) “Top 10 Analytics and Business Intelligence Trends for 2018” Datapine [online] available from: https://www.datapine.com/blog/business-intelligence-trends/ [accessed January 2018]
- Schue, T (2017) “5 Significant Business Intelligence Trends for 2018” Capterra [online] available from https://blog.capterra.com/significant-business-intelligence-trends-for-2018/ [accessed January 2018]