Big data’s rise cannot be denied. Recent improvements in machine learning and artificial intelligence are driving business data to greater heights all the time. Here are 5 business intelligence trends that are shaping the future as we speak.
Goodbye spreadsheet, hello cloud computing
That’s right, your old friend Mr. Spreadsheet is going the way of the dinosaur. As business intelligence (BI) moves into the cloud, gaining both computing power and better organization, companies that use spreadsheets will become the equivalent of cashiers using old-school cash registers.
More than just becoming obsolete, the unmanaged spreadsheet’s often-unreliable data will become a liability that serious businesses can’t afford.
Insights as a Service is here, and you need it
Cloud computing, artificial intelligence, and machine learning are already bringing business insights to new heights. This efficiency will soon lead to businesses harnessing and capitalizing on outside data by connecting to more advanced networks. They can then combine this outside data with their own data to make more effective decisions.
Natural language improvements make data easier to apply
Like a teenage daughter rolling her eyes at her parents’ antiquated slang terms, companies will soon be rolling their eyes at the former limitations data schemas created. As business intelligence tools become smarter thanks to machine learning, they are going to become better and better at digesting “everyday” language and spitting out the correct requested data.
Business intelligence becomes a self-service buffet
No longer will you have to wait at your desk for “your company’s computer guy” to tell you to “move” so he can handle the complex task of gleaning BI insights. As BI tools continue to advance, learn, and become more intuitive, they will become more and more accessible to average employees. The efficiency this access provides will transform the way businesses make data-driven decisions.
Automation is coming in the form of augmented analytics
The watercooler gangs aren’t the only ones encroaching on your IT department’s control of your company’s data. Gartner predicts that more than 40% of all business intelligence tasks will be automated by 2020. This means that beyond just providing data, AI-driven business intelligence tools will also become able to provide recommendations and action plans based on that data.
Augmented analytics will give companies a MASSIVE advantage over their non-augmented competitors.
Only the beginning
As 2018 plays out and ushers in 2019, the sky’s the limit in regards to machine learning and artificial intelligence. Expect major advances in the power, scope, and accessibility of the data that drives today’s businesses.
So what will you do with all the newfound insights?