Over the past few years, the field of business intelligence (BI) has been revolutionized. Especially in the recent past, every year marked some huge landmarks with one or the other technological advent. Since the scope of BI is expanding, trends keep changing every year.
Some trends which seemed indispensable in 2018, did not do well in 2019. Similarly, 2019’s trends may well be outdated in 2020. For most of the companies, BI trends lie right at the crux in their decision-making process so you can’t afford to stick with a trend that has outlived its utility.
As we are about to step into the year 2020, you need to be aware of BI trends which will dominate the coming year:
When it comes to business operations, automation tools are already at the forefront. They have lead companies to increase their efficiency with minimum costs. Seemingly, automation will keep up its pace in 2020 as well.
Gartner’s report spells out that about 40 percent of data tasks will be automated by 2020.Looking at these numbers, one can safely assume that 2020 is all set to see a staggering hike in the automation.
One of the biggest reasons for increasing automation is the growing demand for data analytics and data scientists. So basically automation tools will be used at a wider scale to cover up this shortage.
- Generating actionable insights
Not to discredit MS business analytics online, organizations are largely dependenton AI to gather and collect data. But in the near future, the AI will go one step further. It will also generate actionable insights, which is presently done by the data scientists.
It may strike terror on the hearts of data scientists, but 2020 is likely to be a less productive year for these professionals. The reason being, their role will be minimized and companies may not have to rely upon them as keenly to generate actionable insights.
Analyzing raw data by the experts not only consumes resources but also time.
- Online filtering
There are enormous benefits of the internet. But it has its own backdrops as well. One of the biggest offshoots is that the internet has the capacity to distract people.For example, it is not uncommon to spot employees using social media frequently instead of paying attention to their work. With availability of all kinds of data, you can’t keep people away from distraction.
It may be easier to oversee people in a small company but large organizations simply can’t do that. That way, your workplace productivity could suffer immensely. That’s where web filtering solutions could make life easier for you. It will make sure that no worker wastes his or her time in doing something which is not productive for his company.
This system will be very much amongst the top BI trends in 2020. Using these tools,organization heads can easily trace the activities of their employees and divide the workload equally. In the end, we can all agree thatsuch monitoring is not possible by humans.
- Predictive analytics
When a hotel manager is confused about how many guests he should expect on a certain occasion, he uses predictive analytics to forecast the event. Predictive analytics is about drilling down the existing data and then, based on that data, anticipating future proceedings.
Like hotel business, predictive analytics are critical in all types of businesses because they assist you in the preparation of a future occurrence. Considering the popularity and importance of data analytics, companies may not need to invest in costly BI technology in the future. In 2020, it will be compulsory for workers to have basic competence in data.
- Natural language processing
iPhone’s Siri is a prime example of natural language processing. It is a combination of linguistic and machine learning. When the internet was introduced, nobody could think in his wildest imaginations that in less than two decades people would be able to talk to their phone.
It shows how rapidly this technology has flourished and 2020 has more in the store for natural language processing.
- Growth in data governance
Businesses have always relied on data. They try to gather as much data as possible in order to be accurate in their decision-making process. However, in the past, we did not have tools to know about customers beyond a certain point. As a result, data governance was never an issue for companies.
But this is not the case anymore. We have advanced technology to collect data more efficiently than ever. Since the volume of data has upscaled, the governance of data has emerged as a burning issue.
Even if you have access to a lot of data but you are inapt to govern that data, you will never be able to make the most out of it. Without an iota of doubt, data governance is going to be amongst the most talked-about trends in 2020.
- Greater security measures
Ever since the invention of the internet, security issues have never been really out of the picture. Once in a while, we read about a major scam done by hackers. Technology has become advanced, but don’t forget that hackers have also become smarter. Having all the basics covered, cybercriminal somehow breaches our security.
In the coming year, security measures will be taken further. It is expected that legal regulations will be introduced to minimize security threats. Moreover, security steps like encryption methods or multi-step verification will also go through noticeable improvements in 2020.
- Expansion of data jobs
By now, we have discussed the importance of various tools and AI in 2020. But it is also going to be a productive year for data experts. Since the usage of data will increase in 2020, the data related jobs will also witness growth. To be precise, it will lead to the creation of jobs like data ambassador, data manager, data translator and so on.
The Final Thoughts
The thing with BI trends is that they can disappear without making an echo. When they are gone, no divine voice will whisper in your ear that a certain trend has gone out of date. So it is your responsibility to stay up-to-date regarding them otherwise you will have a hard time catching up with your competitors.