Key Business Intelligence Trends You Should Know About
Business Intelligence is a fairly broad term – it means the classification of applications and technology tools which are designed to collect, store and analyze raw business data, which can then be used by decision makers in organizations to aid decision making processes. Business Intelligence can be used in so many industries – to guide restaurants on what meals to add, to determine which market to target in retail, and to decide which strategy to take with an all-important merger. The way we use business intelligence is growing, however, and the focus is now on turning data into information. Gartner even rates it the number one technology priority for organizations in 2007. With this evolving technology, what are the trends that are having the most impact?
A lot of data, but not enough insight
The volume of data and the speed at which it is being accumulated means that there is a huge requirement to make it actionable. This is where modern, rapid-fire Business Intelligence steps in – to make these large amounts of data manageable.
There are fewer choices in a consolidated market
Oracle bought Hyperion, SAP bought Business objects, and there are moves to consolidate a lot of independent Business Intelligence companies. This means less choice for the Business Intelligence consumer. However, narrowing the market to a few options means that BI will probably be easier to integrate.
Business intelligence is not just for the execs anymore
The tools of Business Intelligence should be available to the corporation at all levels, with flexible dashboards that make control and use of information easy to the administrator.
Applications should be providing new views of BI data
This means that the new Business Intelligence applications should be providing you with a bit more than pie charts, or bar graphs. Visualizations can be better and more functional – take the likes of Tableau business intelligence for example.
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