Business Intelligence Trends for 2018

Blog: 
 BI-trends-2018

Whether you are the End-user, BI Consultant or an Executive all the goings-on in the world of the Business Intelligence are extremely important to know. These trends highlight strategic priorities that really matter and that help you create a clear roadmap for BI strategy in 2018. 

 

 

1. BI technologies become more accessible for both large enterprises and small to midsize businesses.  Even not so big companies shift in the direction of self-service analytics data. Terms like big data, cloud services, predictive analytics, and data science play an immense role in the process of decision-making.

2. Progressive visualization capacities of modern BI platforms increase their role in enhancing business insights. The right dashboard enables users to drill down on the deepest data levels. In such a way decision makers are able to digest the amount of complicated information at a glance. Many business leaders prefer data presented in charts and graphs, as opposed to being buried in data covered on endless pages. The right dashboard enables you to analyze data quickly and act effectively.

3. Self-service corporate BI becomes a reality. It is not a surprise that companies aspire to more efficient and real-time management.  According to Gartner, in 2018 more than 50 percent of large companies will use their advanced analytics and own algorithms to enhance their data-driven business intelligence. End users get an opportunity to analyze live business data and build customized visual reports without the need to engage IT specialists. The benefit is not hard to plumb: satisfaction of growing demand for customized business solutions.

4. Accurate data becomes as important as never before. Only if the data is correct the made decision will lead to success. Sufficient quality of master data are vital for proper analysis, otherwise, it will whittle down all expenses on the implementation of BI system.

5. The massive growth of the predictive analytics market gives forward-thinking companies an opportunity to forecast future behaviors, business ups and down, and to shape in such a way efficient development strategies and marketing plans.  As suggested by BusinessInsider the market of predictive analytics software applications will grow to nearly $12.41 billion by 2022 from $4.56 billion in 2017.

 

What Do You Think 2018 Holds for Business Intelligence?

It is obvious that Business Intelligence is undergoing significant changes. However, the growing importance of data-driven decisions made timely from any spot of the Earth stands unchallenged. Thus, user-friendly dashboards and intuitive design teaming up with mobile and cloud BI become an integral part of Business Intelligence trends that will shape the market in 2018.

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