The BI Trends in 2020
The 20-10s have been a decade of extraordinary digital evolution. At the beginning of the decade, the internet was still not penetrated into all sectors. In 2010, the aggregate number of internet users was 1.97 billion and by the end of the decade the figure was raised. At present, almost 4.50 billion internet users are available across the globe. The unprecedented acceleration in global internet use has transformed almost all aspects of human life, including the way we conduct business.
BI transforming business for better
As corporate associations embrace the digital wave, there is need to make data the driving engine for business growth, efficiency and productivity is greater than ever. While the year 2019 was making data policies stringent for ensuring secure data storage and distribution 2020 will be a year when enterprise make Business Intelligence centric to their workflows, decision making and functions.
In this blog, we are going to discuss top BI (Business Intelligence) trends that will dominate 2020.
1. Actionable Insights
Expect more and more enterprises to adopt BI for enabling agile and fact-based decision making. BI tools empower enterprises to streamline existing work processes, automate sales and delivery reports, create a comprehensive view of sales pipeline and improve member acquisition and retention.
2. Advance Analytics
Automation will drive companies to adopt advance analytics. Businesses, while enjoying the access to a sea of data sources will need to broaden their analytics capabilities. Insights generated from a large volume of data to uncover hidden patterns and correlations with a greater amount of accuracy. In order to generate accuracy and weightage in insights, corporates will invest in strengthening their analytics capabilities.
3. Data discovery/ visualization
Data discovery has increased its impact in the last year. The already mentioned survey conducted by the Business Application Research Center listed data discovery in the top 3 business intelligence trends by the importance hierarchy. BI practitioners steadily show that the empowerment of business users is a strong and consistent trend.
Using online data visualization tools to perform those actions is becoming an invaluable resource to produce relevant insights and create a sustainable decision-making process. That being said, business users require software that is:
- Easy to use
- Reduces time to insight
- Agile and flexible
- Allows easy handling of a high volume and variety of data
4. Mobile BI
Mobile business intelligence is becoming more incorporated into BI solutions and next year that trend will certainly not lose its importance. In fact, it is one of the most prominent emerging trends in business intelligence identified by almost 3000 professionals in the industry.
A few years ago, mobile BI was considered a huge swirl in the business and analytics community. The market penetration is still growing, although slowly but next year we will see even more vendors and BI solutions that will have this option within their software such as modern mobile dashboards. But not just vendors, companies will also implement mobile solutions and actively use it since it will provide them with numerous benefits accessing your information at any time and any place- while riding on a train or relaxing on a beach.
Therefore, Mobile BI enables companies to have access to their data also in real-time, ensuring faster actions to any business occurrences and giving more freedom to users that are currently not in the office but need to access their data.
5. DaaS (Data as a Service)
The accelerate investment in improvising analytics capabilities is expected to boost the DaaS market. DaaS offers businesses with data flexibility, compatibility and fluidity. It encompasses data looping, data mapping and data visualization. With DaaS, companies can alter their data structures and location specific requirements in order to meet specific user needs.
6. Data Automation
Business intelligence is incomplete without data analysis (automation). In past decades, we saw so much data produced, stored and ready to process that organizations were seriously looking for modern data automation solutions to tackle massive volumes of information that has been collected. BI has come to the solution to enable users to consolidate all the data that a company manages and provides methods to discover, analyze, measure, monitor and evaluate large scale data.
This year is going to be the year when everything is going to come up data; data will drive processes and operations through analytics and BI, developers and data teams will emerge into the business and create what every business analyst and end-user have been waiting for — clear and efficient insights that will drive data-decision and lead to making from the top down for more successful businesses decisions. Here's to every company becoming a data company and our predictions for analytics and BI trends for 2020 and beyond.