Shifting Path of BI/DW and Big Data
Bangalore: The demand for Business Intelligence is growing exponentially. BI tools are widely used to help business organizations to either cut costs or increase their sales. According to a recent survey by the International Data Corporation, the big data market grew by 14.1 percent last year with an expected CAGR of 9.8% through 2016.
Keeping in mind the various trends in Business Intelligence, SiliconIndia organized a Business Intelligence Conference in Chennai on September 1, 2012. Top industry experts and leading-edge peers shared their insights on the current scenario in Business Intelligence.
Vishal Singh, Data Architect at Intuit speaking on the importance of Real Time Analytics said “Real time analytics has been around for a very long time but in BI primarily it has been limited to BAM type of use cases. However that landscape is changing very fast with the recent innovations in technology. Ability to process customer experience events in the real time and personalizing customer experience in the real-time is a huge opportunity for improving first time use/reducing abandonment/cross sell and up sell. “
Ramakrishnan Narayanan, Senior Technical Architect, Financial Services & Insurance at Infosys informed that there is a great opportunity for BI Professionals to expand the scope of its usage by integrating generated business intelligence into mainstream Enterprise Operations. He also added that agile development has proven its benefits in a typical IT project. Its methodology can be applied to BI projects also for greater success of BI initiatives. Showcasing quick results and returns will cause more involvement and interest from the business users. SaaS and PaaS are great enablers for agile methodology.
Anuradha Venkatesh, Program Manager - BI/DW, Capgemini Financial Services informed that business intelligence is getting transformed at a rapid pace. With predictive, in-memory and real time analytics becoming a reality, the amount of analytics and speed at which things are completed has greatly reduced. She feels that the urgency to cope with the volume of data is the need of the hour and it will set the stage for things to come in 2013.
The adoption of in-memory computing is picking up steam. Sachin Sangtani, Senior Technical Consultant at Kognitio provided an in-depth view on what makes platforms like this scale and perform at unprecedented speeds. “In-memory computing is here to stay. With mature technology like Kognitio available in the market, businesses can adopt the technology and reduce their time to insight and their cost of ownership dramatically. With unprecedented performance and the ability to scale massively and linearly, users can push the envelope on increasingly complex analytics and leapfrog their competition easily.”
Karthikeyan Sankaran, Project Director - BI, Hexaware Technologies while highlighting the changing world in terms of data volumes, cloud, mobility, processing power said that BI and Analytics related technology innovations improved business outcomes. In his presentation, he stresses for the need to remove bottlenecks for business apart from enhancing their intelligence so that they can compete better in the marketplace. He also informed that the new developments in BI & Analytics are geared to meet the business challenges in the future.
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