Business Analytics Trends

Over the coming months and the following year we will continue to see a wave of new market trends in data analysis, which is undoubtedly one of the most important not only within the IT world, but also business in general.

Nowadays, we cannot not conceive of a company’s business strategy without data-based planning. These changes have also created new roles inside companies, such as the CDO (Chief Data Officer), and has changed multiple processes, transforming companies into so-called Data-Driven companies.

Some vendors and companies have adopted many of the trends we analyse below, but several of these will be continue to develop in the coming months.

 

Augmented BI

The third generation of BI tools has arrived. After the consolidation of BI Self-Service (which is still trending) comes Augmented BI. Gartner already announced the new wave in 2017 in its report Augmented Analytics Is the Future of Data and Analytics. Machine learning and natural language processes will be incorporated into Self-Service BI tools to help business users find patterns and generate insights that would not have been possible previously without a data scientist.

 

AI and ML

With the real arrival of IoT, there has been more data production than ever. In this scenario, it is crucial for companies to have real-time analysis tools to take advantage of this data. This is where AI and ML will play a critical role, providing mechanisms capable of understanding and processing such amounts of data. In 2018, Gartner already mentioned Artificial Intelligence in its 2018 Strategic Technology Trends report, as one of the main trends in data analysis.

 

Chief Data Officer

Hemanth Kumar, in his article: Top 6 Business Intelligence trends to watch for in 2018 and beyond, claims that 90% of companies will have a CDO by the end of 2019. The role of the CDO was practically unknown, but nowadays there are few companies that do not have a figure responsible for data management, under the title of CDO or otherwise.

 

Self-Service

Another trend everyone is talking about these days is the Data Scientist, but Gartner says during the coming months business users will be able to create more advanced analytics and reports using self-service tools than data scientists do. Self-Service BI is an essential part of the strategy of Data Democratisation, which will transform companies in more open organisations, thus energising processes.

 

Master Data and Data Quality

One of the most important lines of work to achieving successful BI projects will be to provide tools to monitor and manage large amounts of data. All vendors will focus on improving their Data Quality tools and functionalities, and capacity to monitor multiple databases in a unified manner.

 

Cloud

Although we have been talking about the Cloud for a long time now, we should not exclude it from current and future trends. The progressive abandonment of On-Premises software and the adoption the PaaS and SaaS services are unquestionable. Cost savings infrastructure and maintenance, and the possibility to use high-value solutions at a low cost, keeps the Cloud amongst the top IT trends. Gartner says that by 2021 companies will have already migrated a significant part of their systems to the Cloud. In 2018, avanttic generated 40% of its turnover from the Cloud. Let’s see what 2019 will bring.

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