Business Intelligence Software Trends to Watch for In 2016

Since technology is moving forward so quickly these days, it’s important to make sure you stay on top of it whenever a new year turns over. Business intelligence software is an area that’s particularly strongly influenced by new trends. Here are some trends coming up in the new year that you should take advantage of to ensure that your company doesn’t get left behind by competitors who make use of superior ways of analyzing, automating, and otherwise utilizing the inevitable new upgrades.

 

Self-service Data for Non-specialists

It’s a fact that people are demanding more and more immediate data access from the Internet due to many new people entering the workforce. The new arrivals to the workforce are going to be even more Internet-savvy and even more focused on the immediate access of data than ever before.

Not all businesses have dedicated analysts to figure out data. Many people are having to put on many hats at work these days. As a result, it’s going to be critical in 2016 for there to be the availability of data that’s easy to access and easy to understand even for those who don’t spend their lives doing this.

In other words, 2016 will be the year of the layman. Businesses that have internal structures for data analysis are going to have to adapt and find services that have an advanced UI that allows for easy entry. This basically means that the playing field will quickly become more equalized so that everything is easier to access for everyone.

Visualization Will Be Big

Obviously, pictures always have been and always will be important, including to BIS and analytics, but this is shaping up to be a big year for visualization. More and more organization are taking data and putting up in visual format to get a greater understanding out of it. This is an increasingly common trend among both experts in the field and those who aren’t It will likely continue into the new year.

It’s just a fact that the intense improvement of visualization in data will give those who use it a big picture advantage over those that don’t. It also helps with speed since you can often absorb data much more quickly if you need to make up or down type decisions. The more you work in an industry where this is the case, the more this trend can help you and the more you have to lose if you don’t make use of it.

Automation

The advancement of automation marches on and business information software is going to benefit. One of the main automation trends that will be increasing this year is combining analytics with automated actions. You’ll be able to use services and software that can analyze data trends and then perform simple actions based on the outcome of that analysis, automatically. After all, there are often situations where time is of the essence and if you’re confident enough in your analytics and the risk is worth it, automating tasks such as inventory replenishment could very well be worth it.

Getting constant reports automatically based on whatever parameters you set is another trend with BIS and automation that you can expect to continue as the year 2016 continues. Staying on top of market data in volatile industries such as the Tech Sector is going to be particularly important if your aim is to avoid being left behind.

Cross-platform Integration

The trend of different data sources of various media being totally separate is quickly changing. Everything is becoming integrated and combined. It’s tough to have a hundred different data sources since you often have to translate them from one form or file type into another in order to properly understand everything that’s happening. It’s going to be increasingly possible to combine and translate data sources with better and better integration methods.

Cloud Data and Analytics Synergizing

Companies are putting more of both analysis and data in general on the cloud. This makes everything easier to access and easier to integrate with all systems. For example, if you wanted to do an analysis of market trends put against information from your inventory or sales data, since both data sets can be stored on the cloud, integrating them and spinning out the results you want is going to get continually easier as time goes by, especially in 2016.

Mobile Analytics Becomes Its Own Category

In the past, people were combining the desktop and mobile analytics, always using one in the context of the other. But, due to the fact that mobile units are on the rise so much, there’s a good chance that mobile analytics is going to stand alone in 2016. Projections have mobile ad expenditure being at 40.5% in 2016 and this is projected to rise to over 65% by 2018.

Customers are using mobile more and more, and they are increasingly consuming more and more of the Internet through mobile devices, so advertisers are shifting their responses to match. This means that you should do the same if you want to stay competitive within your field, regardless of what it is. This applies both to being able to get analytics from mobile devices and also being able to analyze data from mobile transactions, such as those that relate to your inventory.

After all, there’s every reason to believe that those who purchase products or services from your online store using a mobile phone are going to be different than those who do so using a more traditional approach such as a desktop computer. The patterns are going to be different. They’re going to require a different approach to inventory control. For one thing, it’s likely that mobile users are going to make more split-second decisions than PC users. They may make more decisions based on impulse. Depending on how much of your business is based on impulse buys, it could make a lot of sense to have dedicated software and analytics for mobile. It’s now true that 80% of Internet users own a mobile device now, which also points in one direction.

Data from the Internet of Things on the Rise

Now, it won’t just be human actors that are tracked in terms of useable data. Physical objects are making their way onto the Internet and their trends can be tracked as well. This has plenty of implications for analytics and other business information software arenas such as inventory management. For example, if you can track how automatic web-connected objects are using resources, you can figure out how to tweak your own inventory in cases where they are connected. A refrigerator might connect to the Internet to automatically order more food when it detects its own is low, for example. If you have access to tracking this information and you’re a provider of this type of product, this information will be of use to you.

Overall, 2016 will be a great year of watching analytics combine with other new trends such as standalone mobile use and the Internet of things. It’s a good idea to get started on your strategies for conquering these trends now as a result.

For more information on BIS and other related topics, please contact us today. This will be the best method for getting a jump-start on the new year.

 

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