the future of business intelligence
TRANSCRIPT
The future of business intelligence.Where is business intelligenceheading?
The future.
CHAPTER 3
BI as it will be.
THE FUTURE
2020.
Did you miss something?
BEFORE WE START
.Click on the images to learn more about the past and present of BI.
The Future.
THE PAST
We’ve now explained some of the challenges and opportunities that can arise from business intelligence software. In this presentation, we discuss how business intelligence software may evolve.
THE FUTURE
Cloud BI delivers business intelligence capabilities as a service using cloud based architecture at a lower cost, yet with faster deployment and flexibility.
While most BI tools traditionally were hosted on premise, the increased demand for tools and data anytime and anywhere has led to Cloud BI increasing in popularity.
What is cloud BI.
THE FUTURE
Despite the likelihood of higher user adoption, the industry analyst Gartner states that opinion is split on whether business leaders are comfortable holding sensitive business data in the cloud.
We believe that cloud business intelligence is set to become far more popular as security improves and CIOs see the value on moving data to the cloud.
Wider use of cloud BI.
THE FUTURE
Collaboration through business intelligence tools has evolved greatly over the past few years.
Collaboration means different things to different people.
For some, it is about emailing reports, adding notes and annotations against reports as well as storyboarding. It can tie in strongly with business benefits as staff are not just analyzing the data, they are using the data to increase business value.
We believe collaboration will become far more prominent in the years to come.
Collaboration.THE FUTURE
“A collaborative organization unlocks the potential, capacity and knowledge of every employee, thereby generating value, innovation and improving productivity in its workplace.”
- Deloitte Access Economics
Advanced and predictive analytics allow a business to use past data to predict the likelihood of future actions by consumers.
Advanced/predictive analytics.
THE FUTURE
They can be used to carry out a shopping basket analysis for retail or for profit optimization (sell the right products at the right price to the right people).
A behavioral analysis through predictive analytics can reveal the behavior you can expect from your customers.
You can predict actions such as:
• when you can next expect them to visit your place of business
• why haven’t they visited, how can you draw them there, and
• why do they visit your business.
Advanced/predictive analytics.
THE FUTURE
Advanced/predictive analytics.Advanced and predictive analytics is about combining a massive set of data to predict the behavior of customers and future usage through BI tools is likely to increase rapidly.
THE FUTURE
The online retailer Amazon understood the value of capturing and analyzing customer interactions on their website and developed their recommendation engine to make tailored suggestions to consumers.
THE FUTURE
Big data.
As a result, 35% of Amazon’s sales are through product recommendations which are made by analyzing large datasets or big data.
As technology evolves, more businesses will be able to apply big data techniques and analyze transactions through business intelligence platforms.
The amount of data is
doubling in size every two years.
In a fast paced business, BI tools will enable decisions to be made
as soon as the information enters the enterprise.
Information that is valuable to an end user will be automatically highlighted and the BI platform will help the user
drill into the data and direct their attention to what is important.
Rely on the application to find in the moment changes.
THE FUTURE
Rely on the application to find in the moment changes.BI tools will soon draw from billions of rows of data (deep data sets).
These data sets will potentially have thousands of attributes to draw and present insights from.
The BI tool will also be able to learn the type of insights that are or are not relevant to its user.
THE FUTURE
THE FUTURE
Rely on the application to find in the moment changes.Machine learning and automated data modelling will identify unusual patterns, correlations or trends and signal an alert to decision makers.
Conclusion.
THE FUTURE
THE PRESENT
THE PAST
Business intelligence has evolved greatly since its origins in 1800s since Florence Nightingale pioneered the use of applied statistics and created visual ways of displaying data BI used to be IT led and it often took 6-12 months for IT to be introduced into an organization.
In the future, collaboration and cloud BI are set to be embraced by more organizations and applications in the future could detect anomalies and changes before a human.
Today, BI is department led and it is not unusual to have far more users accessing data on a daily basis.
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