Data explosion increases demand for business intelligence tools

The market is moving away from traditional BI processes involving complex spreadsheets toward agile BI solutions that offer a deeper understanding of correlations in data. New-age BI solutions boast improved interactivity as well as enriched data and user experience, enabled by advanced analytics and AI (Artificial Intelligence). Data-driven machine intelligence from AI and analytics will prove particularly useful for real-time, accurate insights.

Technologies Transforming Business Intelligence is a new analysis from TechVision. It finds that BI is gradually shifting from on-premise data storage and intelligence models to cloud-based, on-demand and flexible offerings. The demand for mobile BI solutions is also on the rise.

“Considering the increased usage of mobile devices for enterprise applications, professionals now prefer cross-platform, collaborative mobile BI applications that can be seamlessly used from remote locations as well,” said TechVision Senior Research Analyst Debarun Guha Thakurta. “Additionally, there is high demand for self-service BI with personalized user experience on mobile devices. Wearable devices like smart glasses powered by augmented reality technology will be extensively used for personalised BI experiences.”

Another important trend that will influence future BI solutions is technology convergence. Leveraging convergence, next-gen solutions will be able to achieve superior scales of data processing and data-driven intelligence from massive data sources, facilitating accurate prediction and simulation of complex data-centric problems in every sector.

Future technologies and trends such as IoT, BCI (Brain Computer Interface) and VR (Virtual Reality) will open up new dimensions in BI. Once the connected devices’ network of IoT expands, more data will be available for BI analysis, giving solution developers the opportunity to refine the quality and depth of insights.

“New-age technologies such as VR and holographic displays will enable immersive virtual environments for viewing BI,” noted Guha Thakurta. “With the evolution and maturity of these technologies, future BI experience will be more interactive and personalised for optimum user experience.”