“Without data, you’re just another person with an opinion.”
– W. Edwards Deming
In the future, companies will be able to stand strong only if they can synthesize an increasing number of data sources and formats. Making decisions on a complete picture of their company and industry will keep them in the lead. In this blog, let’s look at the top 5 trends projected for beyond 2020 on how products, projects, and opportunities will evolve around business intelligence.
1. BI available where your data is
Things will change from you bringing data into a BI tool to BI becoming available where the data is. Such embedded BI will mostly be inside business apps to avoid context-switching and improve user experience. Ideas in Excel is one such example. It understands your data in seconds and provides high-level visual summaries of trends and patterns. However, users will still be using only the Excel application.
2. NoSQL connectors
For operational workloads, NoSQL databases like Mongo DB and Apache HBase are chosen by many application developers. Business intelligence tools will evolve to support NoSQL databases with native connectors to provide real-time insights.
3. Streaming BI
5G and IPv6 will change the speed of data generation and integration among applications. They will force organizations to make instant decisions to compete in the business race. Soon, we can expect business intelligence tools to showcase the metrics over the processed data produced by stream-processing tools like Apache Kafka and Apache Flink.
4. Cloud (SaaS)
Cloud storage has overridden physical storage for many use cases. Advantages like scalability and ease of maintenance is forcing tools to be built as SaaS cloud-native software. Business intelligence is not just an installable product anymore. Therefore, data engineers will use both cloud and on-premises BI tools based on their specific needs.
5. Marketplace—product expansion in the hands of users
Products are now designed in such a way that approved apps and add-ins built by external communities or companies can be used along with that product’s own features, like in Microsoft Azure Marketplace. Business intelligence products will allow similar expansion to add on functionalities for data analytics that can help customers get work done more efficiently and insightfully.
Already we are in an era where dashboards are generated by businesspeople themselves via self-service BI tools instead of depending on a separate IT team. According to the Gartner Glossary, the future of BI tools will be driven by artificial intelligence. AI will automate processes further and put useful metrics in the hands of stakeholders quicker. It will automatically correlate relevant data among the different data sources configured. The generated visualizations will give leaders accurate insight into their industries for better decision-making.
Bold BI is business intelligence dashboard software by Syncfusion that empowers you to transform your data into actionable insights. If you have any questions, please post them in the comments section below. You can also contact us by submitting your questions through the Bold BI website. If you already have an account, you can log in to submit your support question. Bold BI dashboards now come with a 15-day free trial with no credit card information required. We welcome you to start a free trial and experience Bold BI for yourself.