Top 10 Trends in Business Intelligence

Tableau, a visual analytic company, hosted a webinar that gave an overview of top trends in business intelligence.

No. 10: Impact of Liberal Arts on Data Analytics: There is a growing importance placed on the value of how to tell stories with the data that you have, which is a communication skill set that is stronger in liberal arts students.

No. 9: Data Insurance: Companies need to assess the risk of data loss and know the value of the data they hold. Only 15% of U.S. companies have insurance policies specifically for their data, according to Ponemon, a company that conducts research on privacy, data protection and information security policy.

No. 8: Crowdsourced Governance: As self-service analytics expand, a funnel of valuable perspectives begins to inspire new ways of governance of the data, ensuring that the right people have access to the right data as you move from centralized governance structure to decentralized.

No. 7: Multi-Cloud Debate: Managing more than one cloud solution (multi-clouds or hybrid cloud strategy) spreads risk. Integration of multiple cloud options becomes very important as some predict that by 2019, 70% of enterprises will have a multi-cloud strategy.

No. 6: Promise of Natural Language Processing (NLP): Voice capabilities to access data such as Alexa, Siri and Google Home could be utilized to provide a simpler interface with technology making data more accessible to more people.

No. 5: Rise of the Chief Data Officer: According to Gartner, a research and advisory company, by 2019, 90% of large companies will have a chief data officer role in place. This role would include thinking through the end-to-end data strategy and how to monetize the data for competitive advantage.

No. 4: Location + Internet of Things (IoT): Leveraging location-based (geospatial) data and IoT devices can add context to better understand what is happening and what we predict will happen in a specific location which allows for personalized experiences.

No. 3: Don’t Fear Artificial Intelligence: Machine learning is rapidly becoming a valuable supplement, and assistant, for the analyst. It means more efficiency and less interruptions.

No. 2: Academics Investment: By 2021, 69% of employers will demand data science and analytics as a critical skill set of job candidates. The hard skills of analytics are no longer an elective; they are a mandate. There have been large investments by colleges and universities in analytics and data science degrees.

No. 1: Data Engineer Role: There has been a large growth in this specialty which plays a fundamental part in enabling self-service access to data analytics platforms. The role develops, constructs and tests different data architecture systems, essentially curating data for users.