Top Trends in Business Intelligence and Analytics

The onslaught of the Big Data phenomenon and development in corresponding technologies is giving rise to new trends in the BI and Analytics domain. The current trend showcases the rise in value for integration and consolidation of information for forming policies and meeting strategic objectives. Currently many companies are using several Business Intelligence tools however the ever-expanding data needs technology with extended capabilities. According to Forbes Magazine, the Big Data trends have affected the data analysis in a significant way, leading to an almost 15 % growth in this arena last year alone.

The BusinessIntelligence and Analytics vendors have taken a serious note of this shift driven by big data and are gearing up for such changing market scenarios. SAPâEUR(TM)s launch of several updates for many of its products like SAP Business Objects Intelligence 4.0, which can now be integrated with Hadoop and extends its support for HANA, validates this trend.

While there is a lot of buzz around the ever-growing data, what matters at the end of the day is how can organizations separate the relevant information and derive actionable insights. This is where the role of analytics becomes even more important. Business Analytics is increasingly becoming a vital driving force in organizational decision making. Creating easy to understand and quickly accessible reports for decision makers is a critical functionality needed in Data Analytic tools today. The challenge faced by the organizations is to integrate the BI systems within the existing system and generate easily cognizable reports that deliver quick actionable insights.

The above is now becoming more and more necessary as improved functionalities and lower prices of smart phones today, has led to a continuous growth in the number of mobile data consumers. The concept of anytime-anywhere access to organizational updates is demonstrating the Value of BI. This trend is now rapidly turning the promise of Mobile BI into a reality. Also the field of Text BI Analytics today, due to the extensive use of social media has now become so wide spread among consumers that organizations are increasingly eager to explore text data as well. They are now looking way beyond opinions and comments to discover new ideas and gain a competitive edge through Text BI Analytics tools.

The next trend, points towards the integration of Big Data and Business Intelligence technology with Cloud computing. Although there are concerns over this hype living up to its expected real value preposition, a new research reported by Saugatuck Technology states that Cloud based BI and Analytics will be among the fastest growing options in the coming years. The augmentation of Business Intelligence with Cloud will compound the growth rate by almost 84% annually in the next two years. If we hold this estimate true, then the Business Analytics market will be touching the $50 billion mark by 2016.

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