Top 5 Business Intelligence Trends to Watch Out for in 2021
As we move further into the digital age, businesses are becoming increasingly reliant on data to gain insights into their operations and make informed decisions. This is where business intelligence (BI) comes in, with its ability to analyze data and provide actionable insights. In this article, we’ll be exploring the top 5 BI trends to keep an eye on in 2021.
1. The Rise of Augmented Analytics
Augmented analytics refers to the use of machine learning and AI algorithms to automate the process of data preparation, analysis, and visualization. This trend is set to transform the BI landscape, making it easier for businesses to extract insights from their data. With augmented analytics, businesses can spend less time on manual tasks and more time interpreting the results and taking action.
2. Focus on Real-time Data
In today’s fast-paced business environment, decisions need to be made quickly. This is driving the trend towards real-time data analytics, where data is analyzed and presented in real-time. Real-time analytics offers a number of benefits, including the ability to detect trends and anomalies as they happen, and respond quickly to changing circumstances.
3. Cloud-based BI
The adoption of cloud-based BI is on the rise, as more businesses move away from on-premise solutions. Cloud-based BI offers a number of advantages, including reduced costs, scalability, and the ability to access data from anywhere in the world. In addition, cloud-based BI solutions are typically easier to implement and maintain compared to on-premise solutions.
4. Mobile BI
As workforces become increasingly mobile, there is a growing need for BI solutions that are accessible on-the-go. Mobile BI allows employees to access and analyze data from their smartphones and tablets, enabling them to make informed decisions from anywhere in the world. Mobile BI is also driving the trend towards self-service analytics, where employees can access and analyze data without the need for IT support.
5. Focus on Data Privacy and Security
As the importance of data grows, so does the need to protect it. Data privacy and security are major concerns for businesses in 2021, as they strive to comply with regulations such as GDPR and CCPA. BI solutions are addressing these concerns by offering advanced security features such as data encryption and role-based access control.
In conclusion
Business intelligence is a rapidly evolving field, and staying up-to-date with the latest trends is essential for businesses looking to gain a competitive advantage. In 2021, we can expect to see a continued focus on AI-driven analytics, real-time data, cloud-based solutions, mobile BI, and data privacy and security. By embracing these trends, businesses can unlock the full potential of their data and gain valuable insights that drive growth and success.
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