The Latest Trends in Business Intelligence

Business intelligence is a competitive area that keeps the industry moving forward. Because of the innovation present in the field, this year promises to bring lots of improvements and advancements in the field. Below are some of the latest trends in business intelligence.

1. More competition
   

Big companies and independent developers have become fiercely competitive in their attempts to create new and innovative BI platforms. Some of the most popular – and innovative – independent developers include Advanced Visual Systems, Tableau, MetaLayer, Pentaho, Tibco, Infer, and the cleverly-named Qlik. For those looking for more market presence, or a proven track record of success, Google, IBM, Hewlett-Packard, Dell, and Cisco Systems all have their own DV platforms.

1. Data from internal and external sources
   

In order to make informed business decisions, companies need to look at data from a variety of sources. This means not only looking at internally generated data sources, but also considering overall market and consumer trends. Using information from multiple sources, will give business the edge to excel in their fields.

1. Increase in data governance
   

Corporations are providing their workers with unprecedented access to data and data sources. Because of this, there is an increased need to manage and monitor how and for what this data is being used for. For many companies, this will be done by adding a Chief Data Officer.

According to Gartner, there are currently twice the amount of Chief Data Officers as there were two years ago. These numbers are expected to continue to climb, with as many as 25% of all companies having a data management position by the end of 2015.

1. Simpler ways to view data
   

As we are constantly bombarded with images and information, data needs to be easy to read, interact with, and interpret in order to hold our attention. Because of this, dashboards and analyses are becoming increasingly simpler; by displaying the most important information in a faster and more efficient way, businesses can better understand their data and directly apply it to their operations.

1. Focus on social intelligence
   

More and more companies are beginning to view social media as a legitimate way to gather data. By allowing corporations to follow trending topics in real time and giving them unprecedented access for customer interactions, social intelligence continues to evolve and change the face of BI.