With the rapid advancement in various dimensions of technology has led to the rise of modern era of business intelligence in the industrial marketplace. In this modern age of business intelligence, data analytics and integrated business intelligence applications are progressing ahead in multiple industries of the world including Healthcare, Education, Sports, Finance & Banking Sector etc. It is evident that BI is quicker in response time and progressing precisely to devise advanced reporting modules, as the trend of data analysis is increasing rapidly with certain amount of time frame, similarly forecasting has changed the trends of BI with massive implementations in real world modules and relevant methodological approaches to devise new and improved solutions to expand your business to the next level.
Most of the software companies are progressively imparting the worth of business intelligence with regards to automation and AI based decision making procedures. Within the previous couple of years BI systems are stepping ahead with rapid advancements in the field of technology. The rising and complex environment of business intelligence has provided distinguishing proofs of market trends with a major focus on improvement as a key factor to adapt powerful decision-making approaches. It is merely dominating the industry to utilize the most recent innovative and powerful trends and methodologies to transform them to digitalization prospects and market competition. Hence, in this article we have discussed in-depth about Top 5 Business Intelligence Trends in 2020.
1. Rise of Smart Automation
Today, Automation is mostly restricted to simplistic, time intensive and detailed oriented tasks. Looking forward, users will primarily receive the ability to implement strategic tools and techniques which solves key problems within their business segments for fraud detection, directing at risk consumers and then reducing ad spend waste will be restricted to certain possibilities. According to the recent research and statistics we have provided some of the detailed facts and figures based on latest trends.
- Gartner has predicted that by 2020 over 40% of data science tasks will be automated that will bring increased the profitability and effectiveness.
- The key aspects of smart automation tools are Power BI, IBM Watson, DataRobot, ThoughtSpot, and Yellowfin.
Hence, it is proven that vendors are trying to automate any part of the procedure where human beings are involved from data research for delivery purposes. Significantly, vendors are also rushing to build any augmented analytics impression, regardless of in-depth story of the smart automation prospects. This major aspect of smart automation is being integrated with respect to skills automation in business analytics and relevant trends to enhance brand evolution to the next level. The demand of analytics is huge and it will further increase in near future and there won’t be any need of skilled people. However, the organizations will primarily realize what they need to do more with less prevalent and the best way to shorten the value of time period via automation purposes.
2. AI is Improving with Latest Business Insights
The use of AI is no longer prevalent that the usage of AI in the business world is stepping ahead, as people have entered in the era where it is implementation has become so extensive that people those who use some aspects of AI in real world prospects even in our domestic time zones. However, the excitement around of the AI in the business world isn’t warning at all. However, on the contrary new solutions are invented and most of the companies are beginning to incorporate AI based strategies in various workplaces. For Instance, web developers are now using AI enabled tools and services such as Amazon web services, Open NN library are used to provide mobile web development services to the target consumers. The basic strategies from data gathering, analysis and implementation standards are enhancing business insights pertaining to customer services, business development and other roles will be enhanced using AI based chatbots.
- AI is primarily used to see that the latest data or information at small & medium sized business level.
- AI is used to perceive that how data was previously updated and devise new strategies to step ahead.
- Business Insights statistically measures how trustworthy data and information is processed.
However, AI is primarily known that it is much efficient than human beings as pertaining to machine learning algorithms that never fails to figure out differences will learn from environment prospects and behavioral outlines to adapt in their business environment to devise new business insights to proceed ahead. If most of the AI is anything, it is impartial and can be easily incorporated in any industry. Hence, the significance and popularity of AI can be easily be concluded into a survey results have depicted that 80% of businesses will incorporate chatbots by the Q1 of 2020, that makes it ubiquitous trend to relocate resources and services for funding purposes and human based activities.
3. Inducement of Mobile BI
Primarily, Mobile Business Intelligence (BI) is the capability to access BI related data including Key Performance Indicators (KPIs), business metrics and professional dashboards on mobile enabled devices. Basically, the concept of mobile was introduced in the early 1990s when the first mobile phone was launched in the global marketplace. The early generation promoters of mobile BI have immensely promoted the trend of mobiles to expand business-centric data and information to mobile and remote device users. But it wasn’t restricted until the dominance of smartphone that mobile BI started to gain widespread attention and entitlement to prosper in the consumer marketplace. The relevant features, facts and figures of Mobile BI are highlighted below:
- Mobile BI allows SOA and Web 2.0 architecture and performance metrics.
- Real time reports and modular approaches.
- Integration of event segments and code efficiency.
- Devises contextual data and generates greater data insights.
- The actions are responded instantly without intervention and latency.
Today, BI tools and resources are widely used in the consumer marketplace that consists of complicated interfaces, software updates which are very important for the stakeholders and digital agencies to utilize these resources and further take advantage of distributing them into them in the marketplace to earn leads and to generate huge amount of ROI via digital marketing and business intelligence aspects.
4. Imparts Enhanced Security & Privacy Measures
Certainly, the evolution of business intelligence has led to rise of many technology innovations are not restricted to business intelligence used to provide benefit to the companies and their employees. Likewise, with the advancement of our digital knowledge and innovative technologies has unfortunately witnessed widespread cyber-attacks and potential threats involved in the modern age. Primarily, most of the companies are battling with security malfunctioning, data and information misuse, and other wide variety of other security issues. On the contrary, business intelligence will proceed ahead to assist companies via providing them information security and confidentiality measures with respect to responsiveness and efficiency aspects.
- The integrated capabilities including privacy and security measures will enable organizations with competences by incorporating content analytics and other futuristic BI apps that will be released in 2020.
- ERP & CRM systems incorporated in Online eCommerce development agencies will work more efficiently by implementing data analytics frameworks with improved data and network security measures by the Q2 of 2020.
The procedure of strict automation and more specific legal rules and regulations will be dealt for privacy, data gathering and storage purposes that combines legal ways to prompt actual solutions that will prevent users from data redundancy and block security threats, albeit when business intelligence is being paired with the professional practices and ethics to maintain our online presence as to make sure that all of the parties are treated properly and in the securable manner. Hence, new and enhanced security steps that involves data encryption standards and advanced encryption algorithms that will use multistep verification process that draws all the legal aspects meant for business to prosper in the business world.
5. Intelligent Data Analytics Will Revolutionize The Industry
It is evident that BI collects and stores data and information with AI enabled aspects and techniques, but another essential role for internet marketing agencies that deals with technical marketing aspects such as providing effective website copywriting services to your potential clients around the globe.
- Soon users would be able to access data using a widget in Slack app or analytics can also be implemented into an email conversation format.
- Vendors are using multi-channel strategy to deliver analytical content using BI tools and techniques to measure data analytics and relevant aspects.
Most of the organizations in 2020 will use intelligent data analytics techniques and tools to perform data analysis, collect and target specific bits of information that are constituted in the form of client preferences to assist users to personalize content layout, presentation and relevant means used to recognize work patterns of your consumers by using tools to filter through the data in effective manner.
In a nutshell, BI & AI trends will likely boost your target audiences to provide AI based solutions with business intelligence trends that will foster and reshape the attention seeking approach with customer satisfaction approaches to devise well-defined trends pertaining to various IT related services consisting of well-defined plans and trending resources includes service based web design companies that caters needs and business requirements of their target audience with a mere focus to devise consistency and reliability to businesses with the power of business intelligence and relevant aspects that boost your brand identity to the next level.