Last updated: March 5th, 2016
In order to gain a competitive edge, one needs to upgrade its infrastructure to all the hottest devices as well as follow the latest trends. These trends however, tend to change with time, which means that constant research on this topic is required. Although business world is something as ancient as civilization itself, in 2016 it is bound to undergo some rapid changes. As we all know, modern technology advances at an incredible pace, which makes up-to-the-minute following incredibly difficult to achieve.
Still, here are 5 business intelligence trends that are coming in big in the 2016 year.
1. Mobile analytics
It is in no way surprising that our world is getting more mobile by the hour. Since early 2015, more people browse internet via phone than via computer. There is also an estimate that by the year 2017, there will be more than 4.77 billion mobile users in the world. Because of all this, it is in no way surprising that mobile analytics might just become the next big thing in the upcoming year.
2. IoT and Real-Time Data
They say that time is money, but this goes multifold in the BI world. This is why, with the amazing connections that Internet of Things (IoT) brings at the table, real time data research as well as its immediate visualization, will no longer be out of reach. This will redefine term advanced analytics and even make it universally available. In the past, we believed that this kind of term, is something that only acknowledged data scientist are allowed to dabble with, while in few years’ time it could become something quite standard.
[Read More: 5 Best Business Intelligence Software for Beginners]
3. Importance of adequate software
Seeing how, having right information from the selected data can be quite important. For this reason alone one of the most important things for any small and medium business will be the choice of adequate business intelligence software. Because most companies have little or no experience in operating such platform, what they will need is a perfect match of user-friendliness and effectiveness. One more thing, in order to make things clear, an adequate BI software must possess option of graphical portrayal of its results (like in form of infographic).
4. Big Data
As the world of online business grows, the amount of data piles up. In order to cope with this, most companies turn to a relatively new notion, known as Big Data analytics. All these unprocessed facts contain piles of valuable information but it is a job of Big Data analytics to discover any secret correlation they might have and separate crucial from irrelevant. This results in better service, more effective marketing as well as numerous other advantages for any business (regardless of its size).
5. Cloud Data
In 2015, most business showed a serious inclination to migrate to cloud. This is quite likely trend that is bound to continue in 2016 as well. As more and more people continue to move to the cloud, cloud analytics will gain on significance in the world of BI. Even now, numerous companies are learning from data gathered in this way and this trend is just further going to continue gaining momentum. This being said. Even though there are no guarantees, as it is at the moment data analytics show serious inclination towards becoming a critical enterprise system.
As one can notice, even though most of these trends did not come to life in 2016 (understandable since we are still at the beginning of the year), most of them are expected to reach its peak soon in the future. Weather it is a new approach to a relatively old concept or just a minor upgrade, if it can help it is not something to be trifled with. Although nothing can guarantee success, one thing is certain. Adhering to these few simple trends can significantly improve your chances.