Top 8 Revolutionary Trends in BI Analytics to Watch For

Business Intelligence has been an indispensible ingredient for most enterprises today, crossing the inhibitions of the size of the business or the industry domain to which it belongs to

Business Intelligence has become one of the most talked of technological concept today and is all ready to become the most innovative and indispensable technology too. Hardly would you find enterprises that are yet to implement BI in their businesses, the prime reason being the unstoppable data that is being gathered yesterday, today and tomorrow. Ever increasing in volume, this data needs to be treated and relevant information needs to be extracted from it – a need of all organizations barring the size and industry segment they belong to. Business Intelligence strives its best to understand all these varying pieces of information, attempts to put them together and give a meaningful and analytical piece of information, in the desired format, in the desired time at the desired location. The perfect blend of BI & Analytics, clubbed with Big Data ensures no data untouched, unprocessed and give you the ideal output. It focuses on an amalgamation of processes and technologies to extract, store, analyse and transform data into enriched information. Technology giants have invested their expertise and experience in BI – Microsoft BI, Tableau, Pentaho being the major ones.

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The recent year has seen a massive shift towards the latest trends in BI and Data Visualization, with organizations leveraging its potential to the fullest and thereby witnessing novel trends and technologies being a part and parcel of routine business processes, gaining deeper insights into their information arena and garnering the much required information quite easily. Enterprises are moving onto to fully fledged BI & Analytics platforms, creating enhanced business value, increased productivity and maximized ROI.

With BI marking its place with a trump, there are supporting elements like the social media, mobility, cloud services, Internet of Things, Internet of Everything and other data technologies that are supporting the growth of BI in the globe and are all set to plunge in their technology threads to weave theirs with this technology giant and bring about a fresh new technology that the globe goes gaga over. The current trends in BI and Big Data Analytics showcase innovative elements in BI clubbed with other technical components bringing about revolutionary concepts its way.

8 Most Innovatory Trends in BI and Data Visualization

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  • Data Mining and Integration Gets Moving Faster

Data Mining and Data Integration form the crux of any BI solution and with BI raising exponentially, both these techniques are bound to get a power boost. There has been an observable rise in sophisticated tools to support them gathering in every bit of information that comes on the way. It is now ensured no data goes waste. Each and every bit of data is analysed, visualized and analysed up to the core. Latest trends in BI and data mining reflect the growing importance of the data related techniques and its foreplay in implementing BI & Analytics, whatsoever may be the industry domain or the size of the business.

  • Self Service BI & Analytics

What is most important in any technology is not only the technical sturdiness and features, but how well does it gel with the end users, especially the non IT staff. It is very much required that the BI solution should be able to reach the most important set of end users and should be accessible to them in their own way, rather than depending upon solution providers. New trends in BI analytics focus on a section of users who, despite less know how of the BI tool, are able to operate the solution and extract the desired information themselves, without any external help. Self Service BI has been garnering a lot of attention and affection both, since it relates to the masses and hence is increasingly getting popular. Self Service BI is continuously evolving to attend to the requirements of the agile enterprises and is no longer bound with static reports as offered by IT. Now it calls for building your own reports, your own way, exploring within and then interacting with it, drilling down to the deepest level possible.

  • Internet of Things and Data Science

The Internet of Things (IoT) and Data Science are a bare reality today and we are very much engraved in it. The huge heaps of data that gets generated is getting larger day by and day and hence the powerful blend of the IoT data along with BI and Big Data analytics are a sure shot way to get the best information possible. The IoT is a world in itself and hence has the potential to create a lot many opportunities for data visualization and real time analytics. With Data Science becoming the latest talked about technology, it offers a large amount of predictive analytics to give a glimpse of what is in store for the future.

  • Cloud BI

Cloud BI is a foreseeable accomplishment roadmap for best business suppleness determined by two of the most popular technologies – the Cloud computing with Business Intelligence. This has gained momentum today and organizations have started adapting it. Cloud BI is turning favourable for smaller organizations that are able to adapt BI technologies with ease and cost effectiveness, since they no longer need to set up internal teams to maintain and monitor applications. The major advantages being noticed are ease of use, deployment speed, scalability, elasticity, and accessibility.

  • Enhanced and Flexible Data Visualization

Data visualization was always there, but now with the invent of BI and Data Visualization tools and techniques, there have been umpteen better methods and ways to extract various kinds of dashboards / analytical reports through innovative techniques. ‘What you see is what you perceive’- so rightly said. It becomes easier for enterprises to read and interpret information now. Eyes have now moved on from the typical rows and columns data to visually appealing, graphically enriched reports.

  • Internet of Everything

Now, the buzzword goes beyond Things to Everything. Not only IoT, the globe is trotting towards IoE. The current trends in BI are now pointing towards Internet of Everything, which focuses on availing information not only from devices, machines and sensors but also gets in information from logs, geo locations and data from the net. The flawless amalgamation of IoT, IoE, Big Data and BI Analytics form the crux of the success of any business.

  • Mobile BI

What is today’s world without Mobility? Just unimaginable. So extensive is the penetration of mobile devices into our lives that it is impossible to go on without them and no wonder, BI gets into mobiles too. Any device, any time and any platform integrated seamlessly with any information, any format and any time is what is termed as Mobile BI and that is creating waves today. A trend in itself, this novel methodology operates through a mobile browser directly accessing the application either on the web or through a native app.

  • Penetration of BI into major business domains

The latest trend being observed today is that BI & Analytics is penetrating seamlessly into all major industry segments now. There are hardly any domains who haven’t yet tasted the success of a Business Intelligence solution. BI trends in Healthcare are showcasing valued solutions in many peripheries like hospital data management, medical practices workflows, patient relationship management, clinical / financial analysis of data, research and others. BI trends in Retail Industry are focussing on penetrating novel sales channels, reaching consumer needs, management of ever changing data and taking enhanced business decisions. BI trends in eCommerce have also proven successful in availing desired information, cross selling and up selling through eCommerce websites, along with a variety of reports like sales trend analysis, customer buying track records, sales and revenue report management, sales evaluation, marketing campaign effectiveness and market demand prediction.

These are just few of the many highlighted trends being observed for BI and Analytics. There is lot more to come. Wait and watch till it penetrates deep into each and every business arena and makes itself an indispensable ingredient in the business success formula. And, something to really look out for is the unblemished integration of all these powerful giants – BI, Big Data, IoT and IoE. Soon, you will find all of them working together collaboratively and amicably.

 As a globally renowned Business Analytics Consultant, we hold widespread knowledge in a comprehensive merge of the most contemporary technologies, frameworks and processes. Our skilled and experienced team of Tableau professionals have implemented a diversity of projects in Tableau BI. With enriched quality assurance to provide the best of services, we @ BizDataPro offer a range of Business Intelligence Services, Data warehousing, Big Data Consulting, BI Managed and Consulting services. Visit http://www.bizdatapro.com/ to get a feel of our enriched offerings, request for a free quote or arrange for a meeting with us. You can also read some of the case studies on Business intelligence solutions to have a feel of our expertise.

The following post Top 8 Revolutionary Trends in BI Analytics to Watch For is courtesy of: www.bizdatapro.com

Big Data Revolutionizing Businesses – Increasing Productivity and Profitability

Big Data is changing lives forever. It has become a worldwide phenomenon in itself and is no longer optional. With its recognition and need spreading over all industry domains, it has becomes an intangible asset. There are hardly any business areas that have not adapted Big Data. Have a detailed look at the 5 most important ways in which Big Data is changing the globe and also the topmost industry zones availing the benefit of Big Data Analytics and how.

A buzzword today – Big Data is changing the face of business with its inherent set of features and magnetic effect that is compelling all industry domains to go for it. Slowly and steadily, it is becoming an indispensible ingredient in the success of any business. Understanding and implementing Big Data is quite a challenging task. These two small words encompass a big world in itself and have a highly relative meaning, which also depends on the requirements, understanding and analytical skills to cull the best of information from the huge ocean of Big Data. It’s not that the data that has suddenly come up is something novel. It has been present since years but has now come up owing to this wonderful technology which has the capability to handle and manage the voluminous chunks of information.

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It is surely a challenge to work out ways and means to understand this information and get the best out of it. That is where Big Data plays its pivotal role by offering diverse and sophisticated mechanisms to analyse the data with different outputs that will help businesses to change their strategies and showcase a highly augmented and value added performance, in terms of productivity, profitability and maximization of ROI. Big Data is changing everything, opening a large number of different avenues, altering the entire perspective of looking at a set of data.

The three major pillars – the 3 Vs of Big Data Analytical Services are so well defined that it becomes easier to understand how and why Big Data is a must for any kind of business – whatsoever domain it may be. Volume –  specifying the real amount of data being extracted for analytics, Velocity – highlighting the speed at which creation and utilization of data take place in multifaceted sectors and Variety – focussing on the different means of extracting data in different formats, structures, files, social media and more. Owing to this strong foundation, Big Data has sparked a cultural change and has its implications in every single business ranging from small, medium to large enterprises, Fortune 500 enterprises too. Irrespective of the size and nature, it has penetrated into every nook and corner of business and is changing the lives of enterprises by a strong angle. How?

Fundamental Ways in which Big Data Is Changing the Way Businesses Operate

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Data – a valuable asset

Is there any business where there is no data generated? None, for sure. Data has always been the most valued piece of information that organizations have been accumulating since years but haven’t realized the potential it holds as far as business results and prosperity are concerned. Even the tiniest of business has a huge bulk of data which Big Data recognizes and values it as a big asset to the organization. Big Data has turned data into one of the most valuable properties from which businesses can now unearth unimaginable information which can augment their productivity as well as profitability.

Easy to grasp the market pulse and client expectations

One of the basic needs for any business to grow is to grab the expectations of the market, growth rate and the expectations of the customers. That is what Big Data offers to its best – it takes you closer to the market scenario and the client’s expectations by offering you transparent and detailed analytical information which gives a in-depth view of what is happening in the market, what are the further trends to observe, what does the customer need and further plan of action.

Remarkable progress in efficiency and productivity

Big Data focuses on every periphery of business ranging from optimizing delivery routes, tracking employee performance, monitoring machine performance, tracking deliveries and shipments and much more, depending upon the industry domain it belongs to. Information is now longer available with the IT department. It is an integral and easily accessible part of every department it belongs to.

Improved customer experience with inbuilt Big Data offerings

Whatever steps we take, our final aim is always enhanced client satisfaction and that is what is achieved at its best by imbibing Big Data into your enterprise. With organizations using the data to improvise products, increase sales, better quality and much more, the one to get the maximum benefit is the client. It is because of the Big Data analytics that the enterprise comes to know about what their client needs, when, where and how. It also extends beyond a point where one can also start predicting about the future requirements as well as analyse the past ones.

Cost Effectiveness

With trend finding and predicting future happenings becoming the crux of any Big Data solution, it has become quite easy for enterprises to work around cost effective solutions, reducing the burdening of costs on all those factors which were earlier unmanageable without this wonderful solution. Big Data is now helping enterprises in predicting the time period of sales, the estimated inventory needed, the best time to purchase stock and much more. No wonder, with such quality information in place, there is hardly any wastage of time or money behind extracting any type of information. It directly gives a reduced effect on the total expenditure incurred in any business.

Top 5 Business Segments Benefiting with Big Data Solutions – Changing the World.

It is tough to specify all but here are the apex few industry zones which have been the beneficiaries of Big Data yielding big profits. Big Data has made its impact on these industry segments, with visually proven statistics and advantages to its credit.

Big Data Changing Healthcare

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Big Data has done wonders to one of the most happening industries, the Healthcare segment. Of course, the most routine advantages like maximizing profit and reducing costs are right there but apart from that, industry specific benefits like epidemic monitoring, disease curing, quality improvisation, hazard prevention, early detection in illnesses, prompt treatment, quick recovery of past history of patients, immediate access to reports / dashboards are the key highlights when it comes to Big Data changing the healthcare industry face. Even integration with third party systems is possible with ease thereby interlinking systems.

Big Data Changing Marketing

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For the marketing segment, Big Data acts as a base material which is highly significant. The data may not look that vital, but the in-depth analysis that is obtained from within the data is the cherry on the cake. Based on those observations, the marketing teams can take big decisions and actions that can yield eye striking results. A powerful marketing approach merged with Big Data can make all the difference in varied areas like client commitment, client retention and loyalty and marketing optimization.

Big Data Changing Retail

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Trends prediction, forecasting, ratio of demand v/s supply, price optimization, customer identification, best possible approaches, payment methods, further sales strategy are some of the many vital advantages that the retail sector, one of busiest sector in the cyberspace, is experiencing thank to the big bang technology of Big Data.  With social media being on the fore front and umpteen tools available in the market, retailers are all set to increase their business multi-fold with the best usage of Big Data technologies and thereby increase their productivity and profitability.

Big Data Changing Way Banks Work

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With frequently varying inclination, it is necessary to keep up speediness with it especially in the banking sector, where organizations need to make out what steps should they chase to handle the capacious data that has been accumulating and extract the best out of it. Big Data solutions have proved to be the relatable solution to sustain potential growth and have turned out to be a dominant platform to support all diverse types of financial services.

Big Data Changing eCommerce

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Due to the gigantic data augmentation in the eCommerce business, the requirement for Big Data Analytics has taken a vertical climb. The relevance of Big Data services in the eCommerce sector has been lies in analysing consumer based data in a variety of ways. Leading eCommerce vendors have chosen Big Data Analytics to take advantage of the bulk of data that is constantly being extracted and thereby grind their cut-throat competition as against their peers.

This blog was first published on http://www.bizdatapro.com/blog/. As a globally renowned BI & Big Data Analytics company, we hold extensive experience in a multifaceted blend of the most modern technologies, frameworks and processes. With enriched quality assurance to provide the range of Data warehousing, Big Data Consulting, BI Managed and Consulting solutions and services.