As we bid adieu to 2018 and welcome 2019,we can understand that the change is not just happening in the year, it’s happening in every field and BI space is not an exception. With the advent of Augmented Analytics, companies can clean, analyze and process their data automatically to generate actionable insights and all of this with no or little intervention from a technical person. BI is at our disposal and self service BI is no more a dream. The modernization and the new features in the BI tools have taken this simple world of reports and charts to a new level of advancement.
The latest BI tools are easy to use and deploy and most importantly, they are embedded. Due to these characteristics,the adoption rate of BI tools has gone up in last few years compared to the adoption rate of 2012, which was stuck around 25%. (Source: InformationWeek).The increasing adoption rate gave rise to competition, which made it mandatory for companies to introduce path breaking technologies to maintain their edge in the competitive market. We have unveiled the top 5 BI resolutions every company should make in 2019.
They say change is the only constant thing in the world. With every change, you need new decisions and in the result-oriented world, business decisions should be backed by strong facts. In such action-packed scenario, we need a BI tool that gives us the right insights in no time. According to Forbes, Data is growing faster than ever before and by the year 2020, about 1.7 megabytes of new information will be created every second for every human being on the planet.
AI is in vogue, when we join AI and BI forces we get a whole new level of superior self-service BI. And with this, you do not have to open any report or any portal for your insights; all you have to do is just ask! AI and NLP have added smart capabilities to the BI tools where users can ask for insights by texting or communicating with digital assistants, who communicates with their users in natural language. According to Gartner, “By 2023, AI and deep-learning techniques will be the most common approaches for new applications of data science”.
Reports and charts are not the only way to represent data, it is time to shun this approach and take on Infographics, which lets your data describe stories, and not you! According to Xerox, infographics improves both attention span and information recall by 82%. Simply put, inforgaphics will help the BI users retain the information for a longer duration which can be used for quick decision making.
As business grows, data grows with it. Can on-premise BI solution cope up with increasing data? A growing business needs a BI solution that can scale up with the increasing data. According to Forbes, “Cloud BI adoption was soaring in 2018, nearly doubling 2016 adoption levels.” Are you still thinking?
Gartner describes Augmented Analytics as an approach that automates insights using machine learning and natural-language generation, marks the next wave of disruption in the data and analytics market. By 2020 Augmented Analytics will be a dominant driver of new purchases of business intelligence, analytics and data science.