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Analytics in Retrospect: 3 Major BI Changes in the Past Decade

04-Oct-2017

Whenever you hear about the latest BI changes in business, 9 out of 10 times, technology has played a major part. With revolutionary progress in smart gadgets and software, visionary entrepreneurs and business leaders are not only thinking big, but outside the box.

Although innovation is a concrete part of this ongoing evolution, some BI changes in the IT industry are here to stay—and the modernisation of business intelligence is one of them.

Business Intelligence: Then & Now

If you take a moment to look back and consider the role of BI across a multitude of industries, the underlying purpose remains unchanged. Data is still important, as is the need to make smart decisions based on actionable insight.

While this is mostly true—with the fundamentals of BI being the same to this day—it’s the emphasis on using that data in different ways that has seen the biggest shift in the past decade.

Let’s explore 3 changes in BI that reshaped the landscape of business.

1. Ubiquitous Access to Data

10 years ago, there was a strong emphasis on maintaining one version of the corporate truth—very much like there is today. Back then, however, organisations did not have the means to share sensitive data across various departments without giving rise to conflicting information. It is the advances in the business intelligence world that have managed to change that, with a focus on timeliness, scalability and user-friendliness, while still serving overall corporate needs.

2. Geospatial Analysis

Maps aren’t meant exclusively for travellers or tourists. They’re an invaluable tool designed to help you navigate your goals and objectives—whatever they may be.

In the past decade, BI modernisation has allowed key decision-makers to map out their strategies, troubleshoot causes of failure, and devise a new plan to achieve success.

3. Internet of Things (IoT)

According to Gartner, there will be 6 billion connected devices, requesting data support by the end of next year. This is only made possible due to a steady rise of modern BI tools and resources in local and international business. What was once perceived as a distant and potentially risky investment has now become a popular buzzword in the IT industry.

Today, IoT encompasses a broad range of modern BI tools that are singlehandedly transforming the way we store, transmit and utilise data for better performance.

As a data management consulting firm, Centelli specialises in business intelligence solutions, including Birst BI and analytics software.

Whether you’re celebrating your organisation’s 1st anniversary or 10th, embracing change can allow you to evolve as a team and business.

Don’t forgo an opportunity to beat the competition. Think smart, think BI.

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