Business intelligence (BI) is a collection of applications and technologies which are used for gathering, storing, analyzing, and providing access to data to help enterprise users make better business decisions.
Business Intelligence has been one of the fastest growing segment in IT for some time now, CIOs and CTOs of different companies have been focusing more and more on the increased adoption and usage of Business Intelligence within their organization and for their clients as well. Gartner executive program survey of more than 2000 CIOs shows “Analytics and Business Intelligence” as the top priority followed by mobile technologies and cloud computing.
This article is an attempt to predict the Top 10 Business Intelligence trend for the year 2014
- Big Data Adoption: In the year 2013, big data was like a buzzword. Companies had heard about big data, but adoption wise it was very limited. 2014 will be the year when it will start becoming mainstream, we will witness really good adoption of big data by different companies.
- Data Overload: The amount of data generated and consumed will be increasing multiple times. Not only the traditional sources of data (like softwares, web services, social media) etc will generate immense data, but also Internet of Things (IOT) will also start contributing to the same. With IOT, literally everything will become a source of data right from fridge, printer, machines, smart devices etc.
- Death of the reports: Day in day out, the amount of data generated and to be consumed by BI and thus to be visualized is increasing. All this will lead to less usage and requirement of the static reports. End user will want an ability to interact, play around with the data and derive insights. This kind of features and the huge size of data, static reports will not be able to
- Mobile BI: Slowly the balance of number of users viewing BI applications via mobile/smartphones/tabs is increasing. Gartner predicts that a third of BI users will be on mobile, and the consumption on the move will increase dramatically. BI vendors will put immense efforts of improving their native mobile applications, make them more interactive and releasing it on all the mobile platforms.
- Analytics on the rise: Companies expectations from a BI tool will shift from just being historical reporting to forward looking. Predictive analytics will become more prominent. More and more BI vendors will have predictive models, text and data analysis as one of the standard functionalities present. Thus BI suites will become more complex, leading to increase in in-memory capabilities, column oriented databases will become more prominent.
- Real time capabilities: With increasing velocity at which data is coming, the end user and business user requirement from a BI is changing drastically. Having real time or almost near real time reporting and dashboarding capabilities will become very crucial for business users, and will affect a lot while selecting a BI vendor.
- Self service BI: With more and more data sources coming into picture, static reports and preconfigured dashboards are increasingly becoming irrelevant. Business users requirements are becoming very dynamic, and they are expecting self service BI capabilities from the solution. They want very less dependence on the IT people and want more and more control on the BI. This feature will soon become a deal breaker or deal maker in the near future while a company selects a BI solution.
- Collaborative BI: Collaborative BI is a growing trend which merges Business Intelligence and social media tools, thus augmenting sharing of relevant information. Collaborative BI will have features like rating, like, commenting, sharing, collaborating, brainstorming etc, thus out of a humongous number of reports/dashboards, only those which are really important are being used. More and more BI vendors are trying to incorporate collaborative BI capabilities inside their suite.
- Suggestive BI : Youtube videos sugest videos based on the current consumption, google suggests search results, Amazon suggests books based on purchase history and browsing etc. Soon, BI will also be expected to suggest the relevant KPI which can help a business user and decision maker make smarter decisions.
- Cloud BI : Cloud BI will become mainstream in 2014. The biggest factor driving this is the high cost of licenses of the different BI vendors. Over cloud, the license cost etc reduces a lot. Open source BI companies like Jaspersoft have came up with innovative pricing like pay per hour of usage, hence BI can also be afforded by small to medium companies as well. Not only cloud BI, but also big data over cloud will see a lot of interest, with amazon red shift and google big query at the forefront.
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