With the exponential breakout of unimaginable digital trends in the year 2018, the data explosion awaited for the upcoming year 2019 could be hardly even wondered about. From revolutionary cloud storage systems to dexterous business intelligence find outs, this year really took a giant leap in the digital escapade ride. The democratization of the data product chain resulting out of self-service analytics flipped the entire concept of using analytics to its core purpose only.
The entrance of core analytics into every possible field shows the elastic tenacity of potential this particular genre beholds. On the other hand, the landscape following the business intelligence industry is evolving at the equal racing pace. Business Intelligence trends 2018 have been carved out in big boxes, full of unimaginable possibilities. Commencing from improving data visualizations, it has justifiably enhanced the data-story telling for all dimensions of businesses.
The colossal pile-up of dominance and supremacy of analytics and business intelligence trends in today’s technical industries cannot be overlooked. Addition of algorithms that are more advanced and scientific data, this evolution grows bigger With so many high expectations and anticipated excitement for the upcoming digital trends 2019 has to offer, here is a theoretical teaser of forthcoming analytics and business intelligence trends.
Data Quality Management Framework
The constant mounting up of quality data in analytics trend was well recorded in this year. As per the survey report prepared by the Business Application Research Center, data quality management is conformingly going to be one of the chief and integral part of digital trends in 2019. Along with the essential requirement of gathering massive amounts of data, the consideration on maintaining the quality and context of the same is also equally crucial. The future of business intelligence therefore critically lies in the quality and the context of the data in which it has been used and interpreted for several purposes.
Reckoning data quality management as a decision-making process, it is predicted to transform into a much more efficient data analysis in the coming future. The exigent state of maintaining a firm accuracy in understanding customers is going to be even tighter in forthcoming years and therefore the underlying construction of the business’s right decision making gets vital with data quality management.
Predictive and Prescriptive Analytics Tools
Predictive and prescriptive analytics tools have been by far one of the most influential and discussed digital trend s with respect to business intelligence evolution. The context of big data that is inward bound in this discussion seizes the central focus of analytics processes. Being labeled as data mining, predictive analysis always carries the mass potential of saying its verdict on the future transformations. On an average acceptability level based on reliability factors, predictive analysis holds immense potential in assessing out lurking risk assessments and alternative scenarios of the future.
Data scientists carve out two major and popular approaches for conducting predictive analysis, Artificial Neural Networks (ANN) and Autoregressive Integrated Moving Average (ARIMA). The principles formulated in modeling these two approaches are pregnant with enormous amounts of potential and possibilities. It can change the entire picturesque of foretelling the future predictions and can stand out as a gigantic reformatory analytical model.
Experimenting a larger scope of future predictions, the prescriptive analysis makes it way through determining decisions that should be made to validate conformity of targeted goals. Techniques mastered to conduct an error-less prescriptive analysis are graph analysis, simulation, complex event processing, neural networks, recommendation engines, heuristics, and machine learning. Looking at the current scenarios itself, the colossal potentials prescriptive analysis have mounted up is phenomenal. The optimization of scheduling, production, inventory, and supply chain design to deliver what your customers want can be leveraged into an unimaginable adroit way with prescriptive analysis awaited to grow more bigger in 2019.
The Cloud Connectivity
The rapid proliferation of cloud-based tools in 2018 was obviously not enough though. The continued excellence of embracing the power of cloud analytics is quite clearly predicted for the year 2019. Elements of cloud-based tools like data sources, data models, processing applications, computing power, analytic models and data storage are on the extending verge of further colossal enhancements. Standing out as a stark contrast with 10% in 2016, the cloud system is predicted to be annexing an engulfing share of 70% as a utilization method for strategizing in maximum industries.
Such statistics clearly point out that the adoption of cloud systems in a multitude of companies is on a steady rise. Using multi-cloud strategy to enhance the business intelligence of a company is counting innumerous attractions and ranks amongst the growing business intelligence market trends of the modern era.
Data Security: The Digital Patrolling
Recent data breaches, that are out on rampant rise have forced the data analysts and panelists to formulate further stricter forms of digital privacy. The most saddening and concerning part of such a turmoil situation in data breaches are that the big companies get the limelight of making it a breaking news while the middle and small companies suffer through in the real nasty sense.
Posing and circulating as a fiery debate, digital security is on the necessary rise to be augmented in the real stringent manner in 2019 and hopefully forestalling the risk of data breach and losses. The growing awareness has further pushed GDPR (General Data Protection Regulation) to flag down some real strict policies to safeguard digital security.
In Conclusion to Sneak-Peak in Analytics & Business Intelligence Trends
Whilst the ongoing evolution in the digital universe keeps on happening and successfully replacing the former ones, there is always an anticipated excitement that incites us from within to know about the future possibilities going to take place. Indubitably, 2018 has been a phenomenal year with some of the most outstanding and preeminent digital discoveries. At the same time, it also paves the way for the coming years to transform into further metamorphic wonders that force the human mind to re-imagine what acumen it beholds.