Business intelligence (BI) involves the use of a varied range of applications and connected-device technologies that can perform the task of assimilating, storing, processing and providing access to data. And in today’s age of cutting edge software & IT technology and constantly changing consumer preferences, the scope of strategic business intelligence has gone from its forecasting origins, to being a full blown part of the planning and execution process undertaken by company CIOs. Business intelligence and analytics gained prominence in 2013 and is said to play an ever increasing role in the reinvention business models, so that companies can stay ahead of the technology curve. And now that CIOs have 24×7 access to this data via their mobile devices, they are already planning to put BI into their users’ hands. Chris Brantley, CTO at Showroom Logic which is a Business intelligence firm, believes that digital technologies now dominate CIO technology priorities, irrespective of whether they’re in the software industry or not. So, here are some of the top BI trends that every CIO should know: 1. Big data is finally on the Cloud Amazon Redshift and Google BigQuery, the two most prominent cloud data warehouses, have virtually reduced the time taken to build a data warehouse, from a few months to just a few days. And while that might not mean much to the average Joe, CIOs should know that they will have to push the implementation of cloud-based business intelligence if their organisation wants to keep up with analytics trends. 2. The Need for Speed In today’s world of 16 MBps speeds and 4LTE, it’s surprising to know that the rapid pace of technology and business development demands even more speed for the future. Technology experts agree that real lies in internet speed. Whether it’s upgrading the bandwidth or purging historic software and systems from their organizations, CIOs are going to have to streamline their companies to prepare them for the increasing demand for speed and accuracy. While the excuse of monetary and technological restrictions will work for now, CIOs can keep ignoring the fact they they’re going to have to give up their business complexities to become faster, yet more innovative and agile. In the broad scope of things, there is going to have to be a greater focus on integration of plug and play IT systems. 4. Data scientists’ Roles Redefined Any knowledgeable CIO should know that data science is moving from a very specialist kind of role, to include that of generalists. And future analyst roles will require them to be familiar with more than just data analysis, which will soon become part of every ordinary business users skill set. Eventually, organisations that don’t use data to make business changes and adjustments will succeed, leaving the one that don’t to lag behind. 5. The Emergence of Embedded Business Intelligence As a result of the race to give CIOs and other top level managers deep insights into the trajectory of ingoing business activities, embedded Business intelligence will slowly but surely emerge. It is going to lead to a scenario in which analytics will operate within the framework of transactional systems, completely changing the way businesses perform customer relationship management activities. The implementation of such embedded BI technology will now be able to help even the retail industry. 6. Online Casinos Using Developers Online casinos are becoming more reliant on business intelligence than ever before. They are investing in talented developers that create specialized Content Management Systems to host and edit content. They also rely extensively on Playtech and other suppliers to provide the solutions they need to optimize the user experience. Casino.com is one of the many brands that use Playtech and a sophisticated CMS to offer an exceptional user experience. 7. The Mobile Worker The growing demands of work and greater interconnectivity of devices and software has led to people sitting and working at the computers anywhere and at any time. Not only has technology gotten faster, but it has also gotten more portable, allowing for employees to setup workstations within a confined area. Tablets and larger smartphones will soon become the default device for those who need to access work-based IT solutions. This doesn’t just mark the end of bulky desktop systems at the office, but can eliminate the need for a physical office altogether. Again, CIOs will need to push for the purchase and implementation of mobile devices for work and the use of mobile apps, and collaborative cloud based solutions to meet the demands of the mobile or work-from-home employee. 8. IT will Never Die With the ever changing IT scenario and constant automation of various technology processes, CIOs live in constant fear whether their position will be taken over an automated software. That being said, no business or organization will be able to survive without IT, nor will IT survive without the existence of CIOs and their subordinates. The growing relevance of IT is already so important today, and its importance will soon reach such a point that investing in and providing cutting edge IT services will no longer be an option, but a requirement. The business intelligence landscape is already undergoing a major transformation, and while data-driven changes will be a constant challenge for small and large corporations, faster and more innovative technology will keep fuelling the need for BI.
Top Business Intelligence Trends That Have Global CIOs Interested
Sean is a freelance writer and big data expert. He loves to write on big data, analytics and predictive analytics.