Evolution of BI

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Evolution of BI

Self-BI: Analytics on driving seat

Earlier the “Analytic s Department” took the back seat – giving insights only on very critical business decisions using historical records and other data sources.This department was relied upon silently for taking strategic decisions as the business evolved with time.

Since few years BI department has become popular  in  domain players like health sector, Investment banking, search engines & social networking sites.Thus in other words it can be put like this — “BI Department” are for bigger organizations only; not for startup, or SMEs.

However today every other business are BI-driven, many startups are mushrooming with different aspects of analytic s catering to niche companies, There has been great mass scaling happening with concept of IoT & BIG DATA, every size of Organization has opportunity to gather, transform, represent data for greater insight of current situation and also get guidance for the path forward.

With easier BI tools like SPLUNK, TERADATA, QLICK VIEW, POWER-BI(online,desktop, excel 2013 on-wards) etc. & presence of many cloud vendor in market removed the constraints of environment, one can go for various security model aligned to their organizations policy and benefit from Self-BI opportunity.

If sharing of data is a big concern within the Organization, as sometimes Projects, Functions, Departments are not at all willing to share their data because of the data security, still there is ample scope to leverage from this “Self-BI” technology available to us. Only hurdle is enable all managers \supervisors on honing this small skill otherwise it would be big loss of opportunity for an organization on not understanding the value of “Self-BI” now and later it will become must needed skill but too late.

  • 90 percent of organizations use spreadsheets for planning, budgeting and forecasting.
  • Nearly 40 percent of business stakeholders without access to analytics make decisions based on something other than data.
  • Top performing organizations are 75 percent more likely to use predictive analytics.
  • Predictive analytics increase operating margins and boost productivity by 150 percent.

Companies are looking for new ways to transform their businesses using data and analytics to get the insights they need to make the best decisions.

Employees also need to invest in themselves to become the sought-after person who can use modern tools to analyze data to find the important insights that will help make a difference.

[Ref: http://www.ibmbigdatahub.com/blog/future-analytics ]

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