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Three Analytics and Business Intelligence Trends
Fremont, CA: Technology advancements are at an all-time high. These advances are altering the way businesses are conducted, opening up new avenues for digital innovation. For today's data-driven enterprises, business intelligence is one such useful tool. It transforms unprocessed data into useful information. Business intelligence evaluates data and recognizes patterns to help businesses make data-driven choices. While the use of this technology is continuously increasing, the number of buzzwords used to describe various BI software techniques grows every year. Here are three analytics and business intelligence trends:
Using modern tools and methodologies, data science offers better decision-making, predictive analysis, and pattern identification. The majority of companies now employ data scientists to analyze and understand their data. Data science will be automated as BI software advances in the future years, making it significantly more accessible and easier to analyze.
Gartner coined the phrase "X Analytics," in which X is the data variable for a variety of structured and unstructured information such as text analytics, video analytics, audio analytics, and so on. It refers to the ability to perform any type of analysis on all of an organization's structured and unstructured data, regardless of where the data is stored or in what format. When combined with AI and other techniques such as graph analytics, x analytics will play a crucial role in spotting, predicting, and planning for natural disasters and other business crises and opportunities in the future.
The integration of machine learning algorithms into decision-making processes has given rise to a new field of decision models known as decision intelligence. It refers to a set of strategies for designing, modeling, aligning, executing, and tracking decision models and processes. It looks at things, studies them, models them, contextualizes them, and then puts them into action. Because humans are incapable of processing vast amounts of data, decision intelligence will handle these volumes utilizing machine learning techniques.