Introduction
With business intelligence rolling, all doubts have been put to rest that it is the most important concept of powering business. Today, organizations are eager to collect every ounce of data which they have & process it to generate precious insights based on which wise decisions can be made to drive growth & profitability. However, with every research center coming up with their own version of business intelligence trends, organizations are left confused about which path to tread. With Covid-19 complications looming large, organizations are already left with a tight margin to work forward. Nevertheless, the good news is that we at WovVTech are burning the midnight oil to present you the latest BI trends so that you continue to focus on your core competency, while we inform you about the ways to wield the latest Business Intelligence software to gain traction. In this blog, we are going to inform you about the latest BI trends in 2021 with the belief that you will follow one to emerge profitable. So, here’s to latest BI trends in 2021:
- Businesses are counting on Natural Language Processing (NLP):
Natural Language Processing is one of the hottest trends of the BI Solution. So much so that we have put it in the first place of the hottest trends. It’s an AI technique which equips a computer software to process human languages & remodel it precisely as humans comprehend. These are a few examples of the NLP:
- Speech recognition: This technology entails converting human words to data from which computers can understand, process, & respond. Ever wondered what’s the technology behind Google Voice, Siri, Cortana, Echo? Yes, it’s speech recognition technology.
- Natural Language Output: This technology generates human language as output data. Again, when Google Voice or Siri answer your questions, they are using this technology.
- Semantic Search: This feature also works on the concept of speech recognition; instead of typing in a question in a language which the computer understands, you simply ask the question in your voice & the computer answers your query.
NLP has evolved over the past years in terms of how business managers are using the data. BI reporting software like Microsoft Power BI & Tableau are using the semantic search feature. NLP developments have led to ease in data extraction & these happenings are indicating that NLP is going to be a big BI trend in the coming time.
- Augmented Analytics
Augmented analytics has a big role to play in business intelligence. Even Gartner has predicted that augmented analytics is going to be a big BI trend in 2021. Augmented analytics makes use of AI & ML techniques to augment human intelligence & produce contextual awareness. Using augmented analytics techniques, employees in the organization will be able to utilize the analytics program even if they don’t possess high-level mathematics or computer science background. Another great example of augmented analytics is the digital assistant field – here users can give voice commands to work with business intelligence applications & even maintain their BI dashboard. Integration of the augmented analytics is going to make BI platforms even more user-friendly in 2021.
- Collaborative Business Intelligence
It has been a while since this trend is making news. The disruptive business landscape, proliferated by the high-level management officials who look for a technological aid to communicate uniquely has given a new resolution to this trend. With that said, collaborative business intelligence is going to be the latest trend in 2021.
Collaborative business intelligence entails blending of data analytics software & collaboration software along with Web 2.0 & social technologies to facilitate data-driven decision making. One simple example of collaborative BI is sharing intelligence reports for effective decision making. It will be interesting to see how collaborative BI trends emerge amid pandemic in 2021.
- Self-Service BI is Sailing
It’s 2021 & self service BI is making the top lines in the news. In this concept the basic idea is to simplify the application to the extent that anyone with basic computer understanding can get the information which s/he wants without taking help of the data scientists. So, with self-service BI you will be able to analyze data & get the necessary information without even knowing the technical analytics. In the expert opinion, employees will be able to work independently & therefore self-service BI is going to be a trend. As organizations around the globe are heading towards a data-driven culture, self-service BI is going to be a hot trend for the years to come.
- SaaS BI to gain more popularity
In recent years, SaaS based cloud business intelligence tools have gained popularity. SaaS BI is a cloud-based application that is rendered through a recurring or subscription-based model. Cloud BI Software comes with a host of benefits such as low entry & exit barrier, quick deployment, no infrastructure requirements, flexibility, scalability, remote access, & above all peace of mind. With covid-19 implications, remote working is a trend, & we won’t be surprised if more & more organizations tend to walk along the cloud way. We firmly believe that SaaS BI is going to be the trend to watch for in the year 2021. Our cloud-based SaaS-modelled business intelligence tool – WovVBI is already selling like a hot cake in 2021.
- Actionable Analytics
This (actionable insights), is yet another top trend to watch out for in the year 2021. Conventionally, businesses were lacking the means to integrate insights & decision making. Nevertheless, with technology solidifying the bedrock to have a swift walk towards business growth, organizations are no longer looking at the data & the analytics in the silos. Business processes & workflows have been integrated with business intelligence basics & dashboard through APIs & extension. Though it’s an emerging business intelligence trend, it’s already prevalent in many top organizations.
Conclusion
Along with the trends mentioned above in this blog, other adaptations which are worth mentioning are – Mobile BI, Data Governance, Predictive Business Analytics, Embedded Analytics, Data Quality Management, Connected Cloud & others. These are the hot BI trends which are going to bring automation & innovation in the year 2021. Adopt one or two of these trends in your way of working to be able to make even more quick & intelligent strategic marketing decisions. Get in touch with us today to know how our cloud-based BI tool – WovVBI can come handy for you. One more thing— this tool is available in FREE-FOREVER format, which means, you can use it for free without paying anything. It’s absolutely free without any obligation.
