As soon as the snow flies and holiday bells tinkle, we know that it’s time to think about BI and data analytics trends that will change how companies do business. Here are some views, the closest thing to a consensus that we could find:
- Rapid evolution and strong demand for sophisticated self-service BI. There’s no letup in the thirst for self-service information delivered through customized interfaces and applications. This demand continues for BI analytics products and methods that make self-service Big Data discovery more accessible to all. Even advanced analytics will be within the reach of business users.
- Cloud-based BI services for companies of all sizes. Last year, business leaders realized that putting data in the cloud is easy, relatively inexpensive and helps their companies stay agile. In 2016, enterprise cloud-based BI spending will grow 5 times more quickly than for on-premises projects. And with rock-bottom monthly, user-based BI subscriptions, SMBs can reject their spreadsheets for sophisticated BI tools.
- Evolution of real-time data analysis and use of IoT data. BI tools capable of delivering data from connected devices will thrive. Solutions based on machine learning and natural language will become accessible to a broader group of business users.
- A BI analysis reality check. Although business users in many industries clamored for advanced analytics projects, not all will be successful. As soon as news gets out that some vendors and customers are struggling to implement Big Data discovery projects, they will become more focused and realistic.
- More new Big Data analytics tools and methods. Expansion of big data analytics with tools that enable business users to perform comprehensive self-service exploration will continue.
- Data governance and bimodal BI duke it out. Data governance helps managers build an environment of centralized, clean and efficiently managed data which inspires trust. So, companies see the need for agile, user-friendly analytics based on secure, reliable data. This requires an uneasy balance between centralized (company-wide initiatives) and decentralized (change, innovation, and exploration) procedures.
- Changing value of Business Intelligence. In perhaps the most important BI trend of the year, the BI emphasis changes from on-premises solutions delivering insights into what happened to often cloud-based solutions that deliver continuous intelligence in real-time.
Next Time: we repeat the trend review, this time for data scientists and analysts.
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Mohana brings more than 13 years’ business development, pre-sales, account management, program management experience to his work. He has a strong technology background and has worked in the banking, insurance and telecom industries. Mohana holds an MBA in Marketing, Managerial Analytics and Finance from Kellogg School of Management. He lives in Charlotte with his family.