Data is vitally important to any business, regardless of size. With increasing volumes of data available, companies are starting to implement business intelligence (BI) solutions that will enable them to make informed decisions based on data. To be successful in a highly competitive area, companies must not only prioritize implementing a modern BI approach but also educate their workforce to be analytics experts. For organizations to retain their competitive advantage, organizations must recognize the roles, technologies, and business strategies that will enable them to improve their approach to BI. UTreee is one of the companies that specialize in creating and implementing Business Intelligence solutions in the United States, Puerto Rico, and the Dominican.
Many organizations are still unsure what artificial intelligence (AI) can do for their business. While technology is improving rapidly, machine learning (ML) is becoming an indispensable feature for analysts, providing help and improving efficiency.
An analyst can have more time available to think about how their analysis will impact the business and plan the next steps by automating simple, time-consuming tasks. This will also help your analysts stay on top of your data flow. Without having to stop and analyze their numbers, analysts can dig deeper. While the potential of AA to assist analysts cannot be denied, it is critical to understand that it should only be implemented when the results are clearly defined. Although some may be concerned about being replaced, ML will help analysts be more accurate and have more impact on the business.
It is anticipated that 50% of analytical queries will be generated through speech, natural language processing (NLP), or search by 2020. NLP will allow people to ask more subtle questions about the data and get specific answers that could lead to better insights and decisions.
BI has been disrupted by self-service analytics and the same is happening with governance. As self-service analytics capabilities increase, new information and valuable insights lead to innovative new ways of implementing governance. The wisdom of the crowd in government is used both to get the right data to the right person and to prevent the wrong person from accessing the data.
The modern governance model will use BI and analytics strategies where data engineers and IT departments select and prepare reliable data sources. This will allow end-users to use self-service to explore safe and reliable data.
It is estimated that 70% of companies will use a multi-cloud strategy by 2019. As companies become increasingly cautious about being locked into a single legacy solution, implementing and evaluating multi-cloud environments can reveal who provides the best support and performance for specific situations. Although this approach is flexible, it increases costs by dividing workloads between vendors and expecting internal developers to learn multiple platforms. With the rise in multi cloud adoption, companies must evaluate their strategy by measuring internal usage, adoption, implementation costs, and workload demands for different platforms.
The location of things is a subset of IoT that includes all the devices that are used to detect and communicate geographic positions. Having access to this data allows users to take it into account when evaluating usage and activity patterns. This technology is also used to track people and assets. It can provide a more personalized experiences when interacting with mobile devices such as badges and smartwatches. With data analysis, location-based information can be viewed as an input versus output from results. Analysts can incorporate this information if the data is available to understand what is happening, where is it happening, and what should they expect.
All companies have data available, but how they use it will ultimately determine the value derived from it. Although the BI techniques discussed in this article are currently top trends and will help organizations increase their competitive advantage, there are many more that can help organizations reach their full potential. No matter where you are – the US, Dominican Republic, Puerto Rico, or anywhere else – data is critical to your business, and business intelligence can give you the technology advantage you need to make your data count. At UTreee, we specialize in creating a BI solution that work just for you.