According to the Business Application Research Center (BARC), eight meta-trends are currently influencing IT – and, as a result, business intelligence solutions.
According to the Business Application Research Center (BARC) these eight meta-trends, digitalization, consumerization, agility, security, analytics, cloud computing, mobile and artificial intelligence are currently influencing IT. These developments are significant when it comes to employing solutions for business intelligence (BI) and data management or integrating them into the organization. The BARC BI Trend Monitor 2016 describes 19 BI and data management trends. Globally, data discovery/visualization, master data/data quality management, and self-service BI are the BI trends most frequently mentioned by companies as the ones with the greatest influence on their day-to-day work.
Technological advances in business intelligence match the speed of digitalization. According to the BARC results, data-based processes and data-driven business models are having an increasing economic impact in companies. The market for business intelligence and data management is reacting to this with new, market-ready "techniques for scalable and high-performance storage of structured and poly-structured data and advanced analysis."
"Nowadays, many people believe data to be the ‘oil of the 21st century’. However, companies that recognize the growing economic and strategic value of data and want to move towards being data-driven enterprises understand that they need to cultivate and develop these factors," says Sascha Alexander, Director Communication at BARC. "Only after business data is integrated and stored, and then processed as information is it possible to create a foundation to analyze and make decisions regarding operational procedures," according to Alexander.
"Existing areas of application such as reporting and planning also continue to develop and suitable BI organization and data strategies are being reexamined in many places," states a new whitepaper by Tableau Software. According to this, business Intelligence trends include a growing demand for "advanced analytic tools which pose more in-depth questions and the development of new methods to guarantee security in connection with self-service BI." Tableau views advanced analytics, cloud analytics, and visualization as additional BI trends.
In addition, the whitepaper states:
"Advanced analytics is no longer just for analysts."
Sales departments, for example, are interested in analyzing sales and customer data, allowing them to draw interesting conclusions. According to Tableau, cloud data and cloud analytics are gathering speed. Because data is increasingly being stored in the cloud, there is a need for the support of data analysts to handle it. Tableau believes that visualization is on its way to becoming a "global language": According to the whitepaper, users don’t want to rummage through columns of figures; they want to be able to visualize them in a simple, concise manner.