Top 10 Business Intelligence Trends that will Add Value in 2019

by December 13, 2018 0 comments

2018 has been an exciting year for analytics and Business Intelligence (BI) technology, and this space is all set to get more thrilling in 2019 as Artificial Intelligence and Machine learning continue to be the toast for Tech professionals across the world. Embedded analytics and computers that imitate the human on actionable dashboards have been redefining the BI insights business and this trend will continue in the years to come.

Armed with the robust BI technology, 2018 has set new benchmarks for non-scientists and non-technical users empowering businesses to become smart, drive accurate data decisions, and bring the concept of “data is good” across organisations.

Here are the top 10 BI trends that will add value to organisations in 2019.

 

1. The Rise of Immersive Analytics and Explainable AI

The growing dominance of artificial intelligence (AI) suggests that machines are all set to augment human understanding with automated decision-making capabilities. The increasing need for transparency has led to the growth of explainable AI, which brings together the capability of understanding and presenting transparent views into machine learning models. Organisations have embraced the value of artificial intelligence and machine learning, a trend all set to achieve new heights in 2019. Embedded analytics has been gradually creeping diligently into more and more tools. 2019 will witness analytics incorporated into software deployments as well.

BI Users will be on a look out for vendors that offer “white label” on their platforms.  And allow customers to build customised dashboards in their workspaces.

 

2. BI will Mimic Human Cognition

 Cognitive computing has synthesised structured and unstructured data from various sources in a way like never before. This development has given rise to data cognitive engines or cognitive layers to organise unstructured data from sensors and a varied of sources in more intelligent ways. Cognitive layers ingest vast quantities of complex data in lightweight cloud platforms, for a smooth AI integration. Advancements in NLP systems enable organisations to have natural conversations with the data sources bringing computer science and linguistics to aid computers understand the meaning behind human language. In the coming years, cognitive computing will be deployed to tackle problems that arise from legacy data and outdated data capture methodologies.

 

3. BI Customers will Deploy Actionable Analytics

2019 will pave way for actionable analytics as data workers want and need their data and actions in the same place. Organisations want their business processes and workflows integrated together, rather than performing analysis in one silo and taking action in another. Business intelligence platforms are meeting this requirement by integrating core processes, business operations, and workflows through capabilities like mobile analytics, embedded analytics, dashboard extensions, and APIs to expedite decision-making process for both technical and non-technical roles.

 

4. Dashboards will Amplify Good Social Impact

Data has transformed the way organizations operate including non-profits and non-governmental organizations (NGOs) with the “data for good” movement exploding across both private and public sector organizations. As the general public becomes more aware of how data can make a positive impact on society, Gartner research points that the social media mentions of data for good have increased 68% in the last year. Actionable data insights delivered through dashboards is been deployed by the private sector companies like the multinational telecommunications company, Orange, which is establishing projects that use data-driven insights to further social good efforts. Orange’s Project OPAL, creates a governance committee in partnership with local governments, to regulate data collection and protection allowing them to share call record details with social impact organizations in a safe and secure way.

 

5. Ethics to Catch Up on Data Solutions

As data gets more organisationally integrated, the topic of data privacy has risen in prominence making consumers more conscious about sharing their personal data. Data protection laws have affected how businesses approach data collection, data sharing and data monetization. New regulations like GDPR have made companies to pay heed to the conversations around data ethics and privacy in the context of their day-to-day business practices. Gartner echoes the same views and points that the digital business era has blurred the boundaries between technology and business. Data now plays a critical piece to the strategic puzzle, as more and more companies are relying on data to shape their business decisions within every department and roles.

 

6. Data Curation Integrates with Modern BI Platforms

As data sources are becoming increasingly diverse, numerous and complex, data curation and management have been more critical to modern BI deployments. More of the workforce uses data to drive decisions making organizations take up data accuracy responsibilities within their data for its use in analysis. As the data access gets broader, organizations have turned to data curation spending millions of dollars on technologies to address the data management and governance challenges. 2019 will see data curation techniques being redefined as the way an organization captures, aligns cleans, and defines disparate data.

 

7. Data Storytelling Becomes the New Corporate Language

Data Analysis if not explained and communicated effectively holds no business value, bringing the power of data visualization in vogue. Data visualization is a language and businesses are hearing that language loud. It is becoming a standard requirement for analysts to know the art of conveying information to decision makers in actionable and easy to understand manner. As organizations create smart analytics the role of data storytelling will be trending in 2019 and become a critical element of the analytics process. Corporates are moving ahead to capture the art of nurturing a data conversation fostering data literacy efforts, a trend which is all set to continue in 2019.

 

8. Smarter Data Adoption Across Organisations

Chief data officers have been re-evaluating how BI adoption plays a significant role in a strategic shift towards modernization and smart data adoption techniques. As internal communities’ on-board workers onto a BI platform, organizations have started to delegate analytical responsibilities and create new user champions. Smarter data adoption across organisations will ultimately reduce the heavy lifting for maintenance and reporting chores traditionally reserved for IT and will give rise to internal champions acting as subject matter experts socializing on best practices and data definitions. Inevitably, all of these movements will lead more people using and driving value out of BI software. And this trend will make business workforce more efficient and organizations more competitive in 2019 and beyond.

 

9. The Rise of the Citizen Data Specialist

Data scientists are in demand and 2019 will not be any different. In its 2017 U.S. Emerging Jobs Report, LinkedIn pointed that data scientist roles have grown over 650% since 2012. As harnessing data from unstructured sources become complex yet attainable, data presentation jobs will be up for grabs as hundreds of companies hire for these roles in a variety of industries. Citizen Data Specialists who are experts in making data models and visualizations through drag and drop integration will be in demand in 2019. More departments and roles are expected to work around making data literacy an important organisational goal.

 

10. Cloud Data Migration Will Fuel Modern BI Adoption

2019 will earmark businesses modernize their data strategy including strengthen their data storage capabilities. More companies have adapted to the benefits of moving their data to the cloud, including added scalability and flexibility at a lower total cost of ownership. Gartner research indicates that the public cloud services market is projected to grow with figures of 21.4% in 2018 to total $186.4 billion. Storage on the cloud makes it easier for companies to capture and integrate different types of data, moving away from an environment where all data resides in a highly-structured, and on-premises warehouse and into a more scalable, flexible infrastructure either on a full-cloud or hybrid solution. Cloud data migration brings data gravity, where services and applications are pulled in the direction of where the data resides. 2019 is all set to pave new applicability for cloud data migration and data visualization capabilities.

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