Business Intelligence trends to watch for in 2019
Business Intelligence is set to become even more thrilling as Artificial Intelligence will continue to be the toast for tech professionals all over the globe. Companies will no longer look at the benefits of adopting analytics but look out for the best BI solution for their industry.
Here are the top BI trends to look out for in 2019 that will add value to your company:
1: Customer Experience
Customer analytics will be one of the primary focus areas for business intelligence in 2019. Customer journey analytics, speech analytics, emotion detection, customer engagement center (CEC) interaction analytics – awaits service leaders to visualize and connect the customer journey across multiple devices and channels.
Consumer expectations are rising and supporting their requirements with a colossal amount of data will be a challenging task. Analyzing and predicting the user’s behavior will go hand in hand with data management and Artificial Intelligence. Becoming data-driven, using business analytics tools to adopt the most effective way of decision-making will become essential for the sustainable growth of a company.
2: Growing Importance of The CDO & CAO
Today, Big data and analytics are becoming vital for every business. Every company has had a Chief Information Officer who administers all the information management assets and security issues. But today, analytics roles are becoming so important that a new position has emerged with time: Chief Data Officer (CDO), and Chief Analytics Officer (CAO).
The role of a Chief Data Officer is to provide users with data that is clean and ready-to-use. Also, CDO manages data assets of a company and improve the efficiency of data analytics.
Another role that is of importance is that of a Chief Analytics Officer. While it complements the role of the CDO and CIO, it is becoming a sought-after role – “If the CDO takes care of data enablement, then the CAO is about how you drive insights off that data and make data actionable.”
3: Increased Investment and Adoption of Artificial Intelligence
Artificial intelligence has taken center stage, and analysts believe that if companies have not started adopting it, then they might not catch up with the competition in 2019. Research shows that 38% of the businesses have already implemented AI in some form, and an even more significant percentage of the companies are assessing the technology’s worthiness.
Artificial intelligence platforms can analyze data inputs faster than humans and uncover hidden insights which people might miss without relying on technology. Some AI tools can provide information directly from the customers in a streamlined way. As per a poll conducted in 2016, 80% of companies were already using chatbots or wanted to do so by 2020. This is because businesses can derive valuable things from chatbots, mainly by paying attention to the words people use and the sentiments expressed. Companies that will wait for too long to deploy it will risk falling further behind their peers.
4. Self-Service BI Interfaces
With the boom of self-service BI interfaces, the role of data scientists will end, who used to take deep dives into their analytics. One of the researches also revealed that companies consider business intelligence as something that differentiates them in the marketplace and helps them to promote a data-driven culture in the organization. If companies have not started using BI, self-service software can be a smart way to begin. However, before planning to invest in such tools, businesses must evaluate what they aim to learn from BI and how such insights fit into their overall business operations.
5. Human Learning Styles
Humans use a mixture of sensory inputs to learn – often defined as three learning styles – auditory/reading, visual or kinesthetic. By the end of 2019, business intelligence will be making use of information delivery mediums to use all these learning methods. For example, for auditory learners, auto-generated narratives in a written or spoken format which describes the pattern of the data selected will come into existence. Similarly, 3D printing can play a significant role in creating maps for the kinesthetic learners because they work best when they can physically feel something. In the case of visually-led learners, the options will grow, where they can take advantage of high-resolution displays to enable the rendering of enormous data sets, and perhaps virtual reality experiences.
Let’s tighten our seat belts and get thrilled by what this new year will bring.