BI Trends of 2012
Bangalore: Every establishment needs to operate and make decisions using data. How well an organization collects and analyzes data determines its success and efficiency to a large extent. Business intelligence and data analytics strategies for organizations of all sizes are changing due to new capabilities and access to new data sources.
Previously, organizations have focused on “operational business intelligence” – analyzing historical data from transactional applications to monitor performance and manage the business. This type of analysis is still vital, but the landscape of business intelligence is growing to include integrated real-time analytics and to cover many data sources.
A few of the Business Intelligence and Analytics trends being seen in 2012 are:
Improvements in ETL capabilities make data capture and integration of data from multiple sources straightforward.
Organizations tapping into new internal and external data sources, obtaining data from social media channels and emails. The challenge is organizing, cleaning and transforming this data into usable formats.
Information governance and e-discovery capabilities are becoming more significant as data capture and storage increases, and applications are rising to expand analysis to third party data.
Growing data volumes are testing storage capacity and performance limits, giving rise to hardware, software and networking innovation.
Analytics solutions are evolving to access data across different storage platforms. This brings down the need for moving data and offers real-time and near real-time analytics.
Real-time and predictive analytics are poised to hasten the evolution of organization strategy and decision-making. New analytics tools and solutions will address this opportunity.
These trends are not limited to large organizations. New applications are being prepared to address the new BI realities across all market segments including small and medium businesses. Previously, data warehouse and analytics solutions were out of reach for many organizations due to their complexity, expense and resource requirements, but new software and hardware solutions are simplifying implementation and giving a shorter time-to-value.
To function sustainably in an evolving BI landscape, users must select solutions that not only satisfy their current requirements but also are designed to scale in both functionality and size. An optimized hardware and software solution ensures that users are taking advantage of technology innovations that can significantly improve performance.
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