As we approach the halfway point of 2015, I thought now would be a good moment to cover off some of the trends that were introduced at the beginning of this year and trends that are becoming increasingly popular as the months of 2015 unfold. Here are my 5 trends for the rest of 2015.
Cloud based technology is increasing
Cloud based technologies are becoming increasingly popular in the world of Business Intelligence (BI). A number of service providers have emerged that enable users to perform analytics via the cloud. One of the advantages of this is the ability to save costs in terms of hardware; businesses benefit from the fact there is no hardware and ongoing maintenance costs, the implementation is also much quicker and requires a smaller budget than on premise solutions. Businesses using cloud-based Business Intelligence solutions also benefit by having more efficient processes as external partners can access the same data therefore eliminating duplication of information. They also provide one version of the truth for businesses, helping eliminate different versions of the same information. This helps companies reduce the volume and complexity of data; this in turn leads to valuable insights across the business, being able to rely on quality data insight can be a huge competitive advantage.
User adoption across the organization is increasing
Gone are the days of requiring data scientists and IT teams to get to grips with analytics. As Business Intelligence becomes more user friendly, company data will soon become the domain of ordinary business users. Intuitive Business Intelligence software means that users will begin to analyse data without the need for extensive expert consultation. Depending of course on data restrictions and regulations within the company, user adoption will continue to spread across the organization. Different roles and different functions in the business will drive personnel to regularly check company data in order to monitor their KPI’s with massive benefits across the whole organisation. The more individuals are empowered to share data, the more effective every member of the organisation will be. There is now certainly a well-established connection between improved business insight and company growth and success.
Intelligence on the move – Mobile Business Intelligence
In today’s Business Intelligence world, mobility of data is essential in any analytics tool. A few years ago it was considered more of a bonus feature. However, we are currently in an age where mobile devices are becoming one of the primary method of interacting with company data. Mobile Business Intelligence tools allow access to information remotely via mobile phones and tablets and reporting tools with mobile ability and dashboarding capabilities create an enhanced visual storytelling experience that makes it much easier for employees to digest information on the move, anywhere at anytime.
Rise of Big Data
Big data is a term that has seen a lot of publicity over the past six months or so, but it is one that should matter to most businesses. Covering the three V’s: Volume, Variety and Velocity, big data is an increasing trend for many businesses when looking at BI solutions. The hope when analysing big data is that companies can find answers that enable them to reduce costs, reduce time, understand potential of new developments and enhanced sales offerings and ultimately increase smarter decision making within the business. There are plenty of benefits when combining big data with high powered analytics tools and businesses are becoming increasingly aware of this competitive edge over other businesses.
Increased collaboration from Data
Users collaborating with data is ever increasing. Collaboration can mean either visualizing data from all of your different data sources and getting this data to the relevant people or empowering end users with the ability to share data amongst themselves or their teams. Data is now becoming ever increasingly accessible and interactive enough that it can become the backbone of a conversation. Now that employees are getting growing access to information and train of thought analytics tools, they can quickly analyse and mash up data and share this with colleagues. Meetings can become more engaging as a result and there’s always the plus side of not having to take action notes for later.
What do you think are some other evolving BI trends? Join the conversation on Twitter @PhocasSoftware