Top 10 Analytics & Business Intelligence Trends for 2019 (Infographic)
The datapine report authored by Sandra Durcevic states that 2019 is the year of data discovery and data quality management. The report describes that the strategies in Business Intelligence will be customized which indicates a good success rate in adapting the Business Intelligence and analytics for their business.
Here are the top 10 Analytics and Business Intelligence trends for 2019
Artificial Intelligence: AI emphasizes the creation of intelligent machines that work and react like humans. This changes the way people to interact with data for better analytics
Data discovery: For many companies, data discovery has seen a massive impact in recent years by the way the company uses manpower with curated data. This empowerment of users in the business is considered to be a recent trend at present according to the BI Practitioners.
Connected Clouds: Choosing a multi-cloud strategy, which will provide flexibility and reduced risks at a reasonable cost.
Prescriptive and Predictive Analytics Tools: Prescriptive analysis examines the content or data to work on the right decisions and steps so that the intended goal can be achieved. The predictive analysis is to exploit patterns found in historical and transactional data to identify risks and opportunities
Data Governance and Trust: Main focus areas of data governance include availability, usability, consistency, data integrity and data security which includes establishing processes to ensure effective data management throughout the enterprise such as accountability for the adverse effects of poor data quality and ensuring that the data which an enterprise has can be used by the entire organization.
Growing Importance of the CAO & CDO: Analytics and data have become the core of the business at present. Every organization holds a Chief Information Officer, Chief Data Officer, and Chief Analytics Officer to supervise the data and security issues.
Privacy, Digital Ethics & Security: Security is undoubtedly the most significant trend in business intelligence in recent years and it is expected to continue the current and in the future too.
Consumer Experience: Customer experience measured in 3 parts – Journey, Brand Touchpoints and the environment – This is one of the new trendings for Retail BI industry.
Collaborative Business Intelligence: CBI or Social Intelligence can provide a new slant on business intelligence where social exploration of data can lead to important insights that the user of analytics did not envisage/explore before.
DQM:Good data quality management builds a foundation for all business initiatives. Outdated or unreliable data can lead to errors mistakes and can lead to bad decision making. Data quality management provides a context-specific process for improving the goodness of data that’s used for analysis and decision making. The goal is to create insights into the health of that data using various processes and technologies on increasingly bigger and more complex data sets.
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