In 2020, enterprises would incline towards data-driven decisions. But, in the years to come, it will be one of the top priorities for BI professionals and business managers.
FREMONT, CA: The meaning of data seems to have gained a whole new meaning in itself with the advent of the digital era, actionable and insightful data visualizations, cloud access, and data dashboards. The emergence of self-service analytics has democratized the data product chain. All of a sudden, advanced analytics are just not limited to analysts. The arrival of big data and the speed at which it is produced has challenged enterprises as well as process improvements. The arrival of big data and the speed at which it is produced has challenged enterprises as well as process improvements.
Let us look at the top business intelligence and data visualization trends:
Augmented Analytics is a combination of Human capabilities with machine intelligence. It is going to drive the analytics space in the near future. People have started recognizing the prowess of technology like NLP, ML, & AI. According to IDC’s Worldwide semi-annual Cognitive and Artificial Intelligence Systems Spending Guide, the world investing in AI systems will double the current spending and reach $77.6 billion by 2022.
In 2020, enterprises would incline towards data-driven decisions. But, in the years to come, it will be one of the top priorities for BI professionals and business managers. Making a decision without depending on data could result in potential damages that will be hard to recover from. However, implementing the data culture across departments can be beneficial across the board- the mentality of employees would change, data would be stored on the cloud where it is easily accessible, and the costs would notably decrease.
When it comes to businesses, making immediate decisions can be the need of the hour and can affect long-term strategies. If businesses fail to make the correct immediate decision, it can be considered as their inefficiency. This compels business applications to incorporate analytics abilities and content. These embedded analytics are expected to be a dominant BI pattern in 2020. It would enable businesses to operate more intelligently through including data analytics into the existing business framework in the form of ERPs, CRMs, financial programming, and marketing automation.