The power of business intelligence and analytics programs resides in these technologies' ability to work with other types of popular solutions. These processes were not developed in a vacuum, and the general progress of the enterprise world into a digital and quantifiable environment has granted additional power to processes that collect and utilize generated content. The challenge now is creating a strategy that successfully pulls these many strands together into a powerful and distinctive approach, one that suits an organization's industry and performance requirements. These details will differ but the main idea of the strategies will be the same: They are meant to improve decision-making at all levels.
Interlocking ideas and trends
A recent KPMG survey indicated that many of the most prominent forces at play in the IT world have positive implications for the use of business intelligence and analytics processes in the years ahead. The research was conducted among IT leaders, who remained highly positive about the progress mobile devices and cloud computing are making. Moreover, each of those trends could provide a new avenue for information collection and use, the type of access that powers analytics programs.
"The jump in expectations for data and analytics growth is due in large part to growth in cloud- and mobile-based services that produce massive amounts of data and a competitive advantage for those who can mine the data for actionable insights," said KPMG Media and Telecommunications Global Chair Gary Matuszak.
The respondents to the survey placed business analytics on their list of potential sources of revenue growth, meaning that expectations for the technology are sky-high over the next few years. These solutions, if used to their peak potential, can limit the influence intuition wields in the boardroom and introduce a more information-driven tactical approach, meaning companies will be driven by aggregated facts instead of theories and speculation. The abundance of new data sources means these insights can be more highly targeted than ever.
Combining many types of data
If leaders want to mine content from many different corners of their organizations, with mobile content and cloud-stored resources joining the fold alongside structured databases, they will have to ensure their technology is up to par. This is where products such as Necto 14 can make a huge difference. Even if the incoming data is semi-structured or completely unstructured, the solution can give results. Expanding the scope of a business analytics program without losing sight of the original goal can keep an organization on the right track tactically.