Business intelligence data is getting even more user friendly
In the digital era, data is pervasive. For many organizations, the amount of data they collect has become a major problem. Others struggle to identify what data will be most helpful for them to gather. Big data, while revolutionary, has created a glut of information leaving companies trying to figure out how to structure it to generate actionable insights. Business Intelligence is at the core of any kind of long-term business strategy, because it helps make sense of the data. When utilized, data strategy can have a big impact on any operation.
Whensurveyed, 72% of business leaders said that they lacked the tools to effectively manage their data for their existing and future efforts. To meet that need, technology companies are beginning to bring more integrated solutions to market. Uday Hegde, big data expert and CEO ofUSEReady, explains, “We expect to see a confluence of data, cloud technology, and the internet of things (IoT), helping to make data more user-friendly. This will help companies develop technology solutions that can improve our lives in significant ways.”
Business intelligence used to involve cumbersome spreadsheets and large amounts of human interaction. More recent developments have been opening up self-service options that are helping companies navigate copious amounts of data to deliver insights that can create competitive advantage.
Hegde details why self-service solutions are gaining popularity: “Companies frequently have to navigate the impact of the four Vs of data: namely, volume, variety, velocity, and veracity. As such, they need effective BI solutions to maintain any kind of competitive advantage. Self-service advancements, powered by recent developments in cloud computing, are driving increased BI adoption.” These developments help companies contextualize their data better, which makes it easier to use in decision making.
Many companies are beginning to realize that data is less effective when siloed in different departments, or when it is coming from numerous platforms. As a result, many are beginning to make structural shifts to the organization in order to centralize their data. Some have even begun to create new positions to help with this transition, with titles like chief data or chief analytics officer.
