The process of extracting valuable insights from raw data has been part of the enterprise world for decades. However, business intelligence has never been stagnant. Compare two eras of the technology, even a few years apart, and it becomes clear that analytics solutions are moving forward on an endless timeline, with new options always emerging and the potential uses of the software expanding with the passing months. Leaders who previously decided the technology was too narrow or limited for their purposes may want to look again as BI faces 2015 with a new set of features and role within companies.
Trend Forecast: 2015
A recent eWEEK report on the state of BI got at a few of the issues that define this software. The source noted, for example, that it is no longer a best practice to only use internal information as fuel for analytics. Software solutions have grown – both the algorithms that crunch the numbers and the processes that gather raw data. It would be foolish to ignore the fact that good analysis comes from merging many different sources of information. By automatically melding multiple perspectives into one result, today's BI solutions can give a more nuanced picture of an industry without excess difficulty on the user's behalf.
The news provider noted that part of BI's evolution could come for the new role of the individuals tasked with managing the software. The IT department, once a kind of support system that ensured the rest of the firm was supplied with useful tech, is now an active contributor to corporate strategy. The synthesis of leadership and tech is so great that innovations are largely achieved by introducing an updated piece of software. BI could be one of the strategic game-changers, changing the contours of entire industry segments by equipping leaders with sought-after knowledge.
The push for great software
If BI is to fulfill the latter of those predictions and become a strategic game-changer, it will likely have to address the former, combining internal and external data. Solutions such as Necto 14 can pool a huge number of data sources into a powerful list of insights, tailored to suit the needs of the individual users working with the software instead of granting a generic overview. While there are many types of information out there and numerous different creators of this content, users who find themselves able to work with a large cross-section of data shouldn't hesitate to do so. The latest tech can help them bring this capability into their operations.