We are half way through 2014 and it’s safe to say that Business Intelligence (BI) has emerged at one of the top priority technologies for enterprises. It is rightfully so as BI helps industries in controlling their costs, boosting revenues and gives insights for faster and better decision making. We will take a look at the following key trends seen in 2014 in the arena of BI.
Evolving Advanced Dash Boards: Expansion and development of dash boards continue. Although many initially felt that there wasn’t much scope for innovations left in dash boards, these are still evolving. And today, most of the large and mid-size enterprises use at least some or the other BI dash boards. Innovation in dash boards is thus becoming mainly driven by more data that can be mined from the systems. With this new ability it is now possible to add newer dimensions to reports. The dash boards will now be more innovative and primarily driven by the motto that all BI initiatives should be in alignment with the business goals. The key focus of dash board innovation would revolve around giving the ability to non-technical BI users to mash the data and assemble their own dash boards as per their KPIs. This gives the ability to generate quantifiable insights powered by fact-based conclusions for taking better business decisions.
Further Expansion in Self Serviced BI: It will be a visible trend that many leading enterprises would start shifting from traditional BI practice to advanced dashboards with self serviced BI solutions. Leveraging from the current technological innovations, companies are looking forward to exploring and analyzing new data sets without much IT support. This is essential as enterprise users lack the time, resources and budgets for catering to the rising Business intelligence demands of today. Thus, 2013 will see more BI vendors driving towards innovations.
Mobile BI: Like all aspects of life, mobile technology has proliferated the BI space as well. As more executives use smart-phones and bring tablets for office use, enterprises have started integrating mobile technology to boost sales and several other business functions. Mobile BI has thus, re-ignited executive interests and is expected to drive BI adaptation across various industries. A 2012 survey revealed that there is currently merely an 11% deployment of mobile BI however, as enterprise mobility gains more ground this percentage is expected to soar high in 2013 and beyond. And a recent cross industrial survey has further revealed that successful mobile BI adaption is at an average of 24% in 2014, alone.
Main Stream Arrival of In-Memory Computing: 2014 has seen major releases in the In-memory computing space. This means that 2013 is the most opportune year for its growth as many enterprises would leverage this technology in their BI implementations. Greater and more diversified kinds of data can be processed through its columnar architecture resulting in better processing of Big Data and even better extraction of actionable insights.
BI on Cloud: Although currently BI on cloud accounts for just 3% of the revenue, 2014 onwards would see a lot more happening in the cloud space. A Gartner study indicates that many CIO’s welcome the BI on Cloud as it frees them from the hassles of infrastructure management and maintenance. This also comes along with the benefits of flexibility of usage and cost savings for the enterprise. And it is especially useful for SME’s who have variable work load demands.
The above are thus, most definitely some of the ‘would be’ key trends of BI in the 2014. And indeed as BI reaches towards its hall mark this year, the benefits of this progress can only be derived by those enterprises that have clarity of their business goals and remain focused towards achieving these objectives.
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