Data is of critical importance to any company, irrespective of their size. With
AI and machine learning
Many organizations are still unsure about what artificial intelligence (AI) can do for their business. While technology is rapidly improving, machine learning (ML) is fast becoming indispensable to analysts, providing help and improving efficiency. An analyst can have more time available to think about how their analysis will impact
NLP (Natural Language Processing)
It is predicted that 50% of analytical queries will be generated via voice, natural language processing (NLP), or search by 2020. NLP will enable people to ask more subtle questions of data and get specific answers that could lead to improved insights and decisions.
Engineers and developers will also make great strides in exploring how people are using NLP by determining how questions are asked. Big analytic gains will be made by resolving this ambiguity and understanding how NLP can augment diverse workflows. Opportunity are available not by using NLP in every situation, but by implementing it in selected workflows.
Crowdsourcing data governance
BI has been disrupted by self-service analytics, and the same is happening to governance. As the capabilities of self-service analytics grows, valuable new information and perspectives lead to innovative new ways of implementing governance. The wisdom of the crowd in governance is used both for getting the right data to the right person and for preventing the wrong person from accessing data.
The modern governance model will use analytics strategies and BI where data engineers and IT departments curate and prepare trusted data sources. This will enable end users to use self-service to explore trusted, secure data.
An estimated 70% of enterprises 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 does increase costs by dividing workloads between providers and expecting internal developers to learn multiple platforms. With adoption of multi-cloud increasing, companies need to evaluate their strategy by measuring internal usage, adoption, implementation costs and workload demands for different platforms.
Chief Data Officers
Analytics and data are fast becoming crucial to every company. This could easily result in a gap being formed between CIOs and the business while battling governance and security versus speed to insight. The C-Suite is also being held more accountable for creating an analytics culture. This has led to the rise of Chief Analytics Officers (CAO) or Chief Data Officers (CDO). These roles communicate the value of analytics at all levels, overcome cultural barriers and lead business process change. The role of the CAO/CDO is focused on outcomes and they stimulate proactive C-level conversations to assist in developing analytics strategies from the outset.
The location of things
The location of things is a subset of IoT and it includes all devices that are used to sense and communicate geographic positions. Having access to this data enables users to take it into account when they assess usage and activity patterns. This technology is also used to track people and assets, and can provide more personalized experiences by interacting with mobile devices like badges and smart watches.
In relation to data analysis, location-based information can be seen as an input against result outputs. Analysts can incorporate this information if the data is available to understand what is happening, where it is happening, and what they should expect to happen.
Every company has data available, but how they use this data will ultimately determine the value derived from it. Although the BI techniques discussed in this article are currently the major trends and will help organizations increase their competitive edge, there are many more that can assist organizations in reaching their full potential. It does not matter were you are, the US, Dominica Republic, Puerto Rico or any where, Data is critical to your company and Business intelligence can give you that technological edge you need to make your data count. At Utreee we specialized in creating BI solution that works just for you.