TechDogs-"Top Trends 2022 - Business Intelligence Trends"

Business Intelligence

Top Trends 2022 - Business Intelligence

By TechDogs

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Overview

Every business generates a lot of data - we can all agree that this statement doesn't warrant any explanation. At the same time, another undeniable fact is that most businesses have only scratched the surface when it comes to leveraging the potential of this data.

Until you can make use of the 10,000,000 ounces of data that you generate for intelligent decision-making, all that you can rely on for deciding on something is a magic 8 ball - and both you and Ross (Emily or Rachel?) know that it's not the most reliable pursuit.

That's where you need to be on top of your Business Intelligence (BI) game. You need to know the latest developments in the BI industry and adopt them to stay relevant in the market. Wait - you knew that? Then what are you waiting for - read on to explore the top Business Intelligence Trends, a.k.a. BI trends for 2022. Thank us later!
TechdogsMake The Right Moves On And Off The Board-"Top Trends 2022 - Business Intelligence Trends"
Why did the California Bureau of Investigation and Teresa Lisbon tolerate Patrick Jane's total disregard for protocol and unprofessional behavior and have him as their crime consultant? Yes, we're talking about the mentalist from the show "The Mentalist" - the modern-day Sherlock if you ask us. (Let's debate on that later?)

Let's not digress, okay? So, why did they endure his shenanigans? He was extra-perceptive, a keen observer and most importantly, helped them solve the seemingly unsolvable crimes and get to conclusions quickly.

While you may not be out there solving crimes (or maybe - who's to say!), it always helps to make definite business conclusions (decisions, duh!) quickly. For that, you can either find a Patrick Jane to observe patterns in your processes and data or leverage Business Intelligence. The last we checked, it was close to impossible to find a fictional character in real life, so we'd say your best bet is Business Intelligence.

Hey - now don't start with "I already leverage BI for my business!" Yeah - but don't you want to go beyond and explore how to use Business Intelligence better in 2022? Now you get it. Without any more random trivia, let's explore the top Business Intelligence trends for 2022.
 

Trend 1: SaaS And Cloud Adoption Will Meet Business Intelligence


TechDogs-"Trend 1: SaaS And Cloud Adoption Will Meet Business Intelligence"-The Epic Handshake Meme Which Says That Business Intelligence And Cloud Adoption Will Provide Analytics On The Go
Everyone is on the cloud these days and not just the ninth cloud, the CLOUD - the one where you find servers, storage, databases, networking, software and also cloud analytics. Breaking news - this year, you'd find intelligence there too! #IntelligenceIsWhereDataIs

You heard us - with the rapid adoption of the cloud in the business world, it only made sense to move the Business Intelligence tools there too. In the year ahead, we'd find businesses favoring cloud-based BI tools - either hosted on private or public servers. #YourCloudYourChoice

Dresner's study reports 95% of software vendors have voted in its favor and 54% of enterprises consider cloud Business Intelligence "very important" for their business. That's because then you have your data handy on any device from any location to use and analyze on the go. Not to mention the reduced costs of not having to store so much data on-premises.

We are not done yet - have you heard of Business Intelligence as a Service. With widespread cloud adoption, you can expect a lot of businesses to subscribe to Software as a Service (SaaS) plans for outsourced BI services. That way, all the data management, maintenance, upgrades and security are no longer your concerns and you get efficient BI in real-time. #StayStressFree

TechDogs' Opinion: The way we see it, it's not that cloud Business Intelligence is an entirely novice idea that's taking shape in 2022. In fact, we're already seeing the manufacturing, finance and business services sectors leveraging cloud BI effectively. However, the reason we believe that cloud and SaaS is a key Business Intelligence trend this year is because we can predict exponential growth in this direction in all tangents. We can foresee a widespread adoption of the technology in the education sector.
 
Nearly, every business and institute in EdTech seem to have incorporated it in their plans for 2022. At the same time, we are also expecting businesses to invest massively in other technologies that are essential in making cloud work for them such as relational database support, open client connectors and real-time query to third-party cloud applications. Lastly, while the finance sector seems to have successfully dealt with and build robust cloud BI tools that don't have security challenges, the other sectors too need to match up and focus on data security and management as they move to the cloud.


Trend 2: Analytics Will Have To Be Embedded


TechDogs-"Trend 2: Analytics Will Have To Be Embedded"-Shocked Cat Meme Wondering If Embedded Analytics Means Analytics On Bed
Here is a quick task for you - if you wish to understand this trend, copy the URL of this article on to your email and send us at [thisisastupididea@techdogs.com]. Then, we'll send you the information you need to know what embedded analytics means and why it is important in BI! (We know it's a stupid idea - said so in the email address, didn't we?)

We know no one wants to take the hassle of picking data from one point, copying it elsewhere and then getting the required results. That's why Embedded Analytics will get really popular in 2022. What's that? So far, you had Customer Relationship Management tools, Enterprise Resource Planning tools, Financial Management tools who would do their work and collect a lot of data (read unstructured data), which you would then extract and put in a BI tool to get relevant analysis (read to get structured data) to make informed decisions. Not anymore.

Going ahead, you can find these tools to have embedded analytics for BI. Not just a few of them but almost the entire business tool set will have built-in analytics for you to analyze in real-time. A report by Allied Market Research states that the global embedded analytics market is likely to reach US$60 billion by 2023 - and for a good reason. After all, merely by staying within native applications, embedded analytics enables speedy data analysis without any copy-pasting of stupid email addresses and without worrying about data quality! #ThatWasJustAStupidIdea

TechDogs' Opinion: Embedded analytics doesn't mean that all your existing business tools would suddenly develop analytics features in them - they would rather have capabilities such that leading BI tools can be integrated into them. With embedded analytics, one of the biggest benefits that businesses would get is accurate actionable insights. With data entering the BI systems in real-time, there's data accuracy which leads to much better and more accurate analytics. Did we mention that it makes the analytics real-time? We did.

We believe that existing BI tools would have to evolve to provide integrations with as many business tools and software as possible (many already are!). That's one part of the story. Going ahead, providing embedded analytics would also be about ease. Businesses would want a BI tool that can integrate quickly into all their existing business tools and CRMs without coding and infrastructural hiccups! #IntegrationShouldBeBreezy
 

Trend 3: Natural Language Processing Will Make BI More User-Friendly


TechDogs-"Trend 3: Natural Language Process Will Make BI More User-Friendly"-The Legendary Women Yelling At Cat Meme With NLP As The Cat And The Women Telling Him That He Needs Programming Languages To Understand Data.
Let's face it - when it comes to IT or even BI, it's a restricted arena. For the longest time, non-techies have been kept out of these spaces (#ReservedForCodersOnly) but that's changing now. With the popularity of low-code platforms and self-service tools, even non-programmers can make use of these technologies. When it comes to BI, non-techies would now be able to get into the analytical space without needing a techie to set it up for them. They don't need a data analyst or data scientist to answer their business questions. They could directly ask the tool! We're not kidding. (Data literacy at its best).

You will be able to ask questions to any tools or system just like you are having a conversation with a colleague through Natural Language Processing (NLP). In a BI system with NLP capabilities, you can ask a query in English, the system will translate it in "their language," find the answer and then respond in a language you understand. If you thought Patrick Jane was psychic, then NLP combined with BI is even better! You ask them anything - you'd probably get an answer instantly right from expected revenue in the next year to the number of burgers you'd eat in the next month! In fact, Gartner believes that together with machine learning, NLP would be "the next wave of disruption in analytics and BI". #ItsTheAnalyticalRevolution

TechDogs' Opinion: There's no denying that we'd have NLP to make Business Intelligence more relevant, insightful and easy to access. Everyone knows that. We think that's not the only superpower NLP will enter the BI world with. Still in its early stages but businesses are also utilizing NLP to help them make sense of unstructured data - one of the biggest challenges most businesses face while handling data. For instance, so far you could know how well your app is doing in the market based on their Playstore and Appstore ratings but what if we told you that with the ability to recognize and process natural language, your BI tool would be able to understand a tweet about your app and then analyze whether its positive, negative or neutral. All tweets, comments, DMs, reviews, messages - now can become a part of your analytical data set because your BI tool understands their language! #SentimentAnalysisAced
 

Trend 4: AutoML Will Take Care Of Advanced BI Problems


TechDogs-"Trend 4: AutoML Will Take Care Of Advanced BI Problems"-Expanding Brain Meme That Takes Puts AutoML above Data Analytics and ML.
Didn't you hear what Gartner said? NLP along with ML would be the next wave of disruption, so we had to cover machine learning next (obviously!). However, enough has been said about machine learning in the past years. Yes, it's revolutionary - but there's something even better out there in the market now. That is AutoML or Automated Machine Learning - it's ML but better.

Imagine this - when it comes to Business Intelligence, there are certain datasets, certain criteria to perform data analytics, right? What if we told you that you could explore newer avenues of data analysis for enhancing data quality? So far, you may have been analyzing your sales performance based on revenues but now you could analyze it based on actionable insights like yearly growth or competitor's sales performance. The best part - you don't have to come up with these criteria - the BI tool would. With AutoML, the tool would collect data, analyze it and create ML models on its own to process and analyze the data better. #TotallySelfReliant

We come bearing proof too! BI industry leaders have already taken cognizance of this trend and are working to leverage AutoML in their systems. For instance, Qlik hired a team to understand and leverage the true potential of the AutoML. Tableau has been working on to make its tool self-service through augmented intelligence and machine learning since mid-2021. We could go on but you probably see the picture!

TechDogs' Opinion: We get it - AutoML is a very powerful service that can change the way BI systems operate. Having said that, we have our apprehensions about it when it comes to data security. Think about it - you're leaving all your data to be processed, analyzed, modeled and stored automatically. While that leaves you completely hands-off, it also gives the technology all the power to modify, structure and leverage the data on its own.

You need to tell AutoML systems where to draw the line, how to store the data, what information needs to be handled with care and stored more securely than the rest. You need to govern your AutoML technology. So, you probably won't need data scientists to create machine learning models for Business Intelligence; you would need them to understand where the AutoML system is heading, how it is predicting and what it is modeling. (And you thought technology could replace people!)


Trend 5: Mobile Will Not Go Out Of Style Anytime Soon


TechDogs-"Trend 5: Mobile Will Not Go Out Of Style Anytime Soon"-Two Buttons Meme Where Business Intelligence Tools Have To Choose Between Analyzing Data On Mobile And Analyzing Mobile Data.
It was there last year; it continues to be there this year too. Business Intelligence on the go would continue to be in demand for a long time. In 2022, on one hand, more and more BI systems would be accessible on mobile devices and on the other hand, their capabilities on mobile would increase. Earlier, you only had certain industry leaders provide you with mobile applications - and that too with just a simple dashboard. Now, you can expect these dashboards to evolve to become even more descriptive. #DesktopCapabilitiesOnMobile

Not just that, NLP-powered chatbots and query systems would also make their way into the mobile applications of BI systems soon. In fact, as Mordor Intelligence predicts, the mobile BI market will exceed $20 billion by 2024. After all, if mobile devices like smartphones and tablets "are estimated to comprise more than 72% of internet traffic," you would invariably have to deploy mobile-friendly BI platforms to capture their data right.

TechDogs' Opinion: We're about to be the devil's advocate now but hear us out. A quick read-through makes mobile BI look like a foolproof plan - users are on the go, so their BI tools should be there with them wherever they go. However, we think this plan has scope of failure. Why? Well, we're not considering whether the existing mobile BI capabilities can provide comprehensive insight.

Everyone has a quick dashboard with structured data and is looking at different aspects of it to take business calls - but when you're looking at one small aspect, you may not get the entire picture and your business decisions can be based on limited insight. So, we recommend that businesses would have to set standard decision-making factors and aspects which have to be considered by every team member before finalizing anything.


Conclusion


Data will continue to be the centerpiece for business, there is no escape from that. However, success lies in the hands of those who follow the trends that can help them with advanced Business Intelligence capabilities. So, be it mobile solutions, natural language, automation or cloud solutions - if you're planning to invest in BI, make sure the tool you go with is keeping up with these top trends.

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BI Trends Business Intelligence Trends 2022 Current Trends In Business Intelligence Business Intelligence BI Business Intelligence TrendsSaaS Cloud Adoption Embedded Analytics Natural Language Processing AutoML Mobile Intelligence

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