Emerging technologies are changing the way companies collect and extract available insights from data. More and more companies use data to drive their decisions. This makes cutting-edge analysis and business intelligence strategies one of the best advantages companies can have. The more you know about business intelligence trends, the more accurate decision-making you will make.

a picture demonstration of the process from BI trends to future
Business intelligence trends to future


State of Business Intelligence trends



Provide a new way of data discovery

New data collection technologies like devices for Internet of Things (IoT) are providing companies with massive amounts of real-time data. This is different from any previous ways of collecting data. Everything can be digitized. These new data discovery methods will provide business intelligence analysts with more data sources than ever before. However, at the same time, companies that rely on these new data sources also need to protect these new data, otherwise they will face unbearable consequences.



Predictive business analysis

There is a trend of further integration of business intelligence and data analytics. Predictive business analysis is one of the most important factors for enterprises to use business intelligence nowadays. It is the use of data and artificial intelligence algorithms to help analysts predict the future and better predict business outcomes, based on the analysis of past performance. AI-driven business intelligence tools can use predictive analysis and historical business data to predict changes in market demand, emergency risks, and other changes that companies need to respond to.

Take the BI software FineReport as an example. The dashboard made by FineReport shows dynamic cost. Therefore, through the cost analysis of the company’s operations in the past period of time, the company can make certain judgments based on the operating conditions. Moreover, the company could also make predictions about the company’s cost expenditures in the next stage.

an interface of cost analysis of Fanruan’s BI software FineReport
Cost Analysis (by FineReport)


Natural language processing and natural language generation

New artificial intelligence tools can also help companies better collect and analyze text-based data, and help business intelligence analysts create reports. Natural language processing or conversation analysis when applied to business intelligence is an artificial intelligence technology that can train computer software to process language in a way that simulates human reading. Natural language processing enables artificial intelligence-driven technologies to respond to language more flexibly and intelligently, which has raised a major problem in software-based solutions in the past.



Prediction of Business Intelligence trends



Cloud

With the popularity of cloud computing in other computing fields, enterprises are paying more and more attention to it. Over time, regardless of the size of an enterprise, data-driven solutions are needed to meet its business needs, and data will be migrated to the cloud. Existing systems have strict analysis models, and many companies rely on their IT departments for analysis to separate the process from the business environment. Cloud computing is not limited to storage, it also has mature business intelligence tools. The trade-off here is whether the company will hand over data security to a third-party cloud computing server, or invest in owning and operating its own on-premises data center.



Mobile development

Mainly through lockdown and social distancing measures, traditional business models continually decentralize. As we enter the future, there will be more mobile development of BI. The development trend allows users to access BI-related data, business indicators and dashboards on mobile devices. Moreover, there will be many vendors and solutions next year. With the mobile BI platform, companies can access data anytime and anywhere, access real-time data to speed up response speed, operate with more remote employees and strengthen internal communication.

an interface of mobile use of Fanruan’s BI software FineReport
Mobile use of FineReport


Companies widely adopt advanced analysis

Can you imagine how proactive and productive your team will be if they receive a dashboard describing the challenges they face and possible solutions every week or even every day?

The large-scale adoption of advanced analysis can not only increase data ownership, but also increase the ability to act on the data. When the team can drill down to their own data dashboard, the company gives them the ability to influence actual changes. Employees are no longer information consumers, but information engines that can understand their own data-driven programs and act on them quickly.



Data security

In the future business intelligence trend, business intelligence will further ensure the security of data. In this information age, data is a valuable asset for any business. The key to creating a complex model is not how good and powerful the system is, nor how good the machine learning algorithms are. What’s more important is the quality and quantity of data the company has. The trend for enhanced data security in the BI context has been growing. It will continue to do so in the future as businesses seek much more secure solutions for business data.

FineReport values data security. To defense the security of enterprises, FineReport through access control to patch and through SQL anti-injection to realize proactive prevention. To improve the security of data management, FineReport has basic functions of password verification and special functions of fingerprint verification. Visitors must strictly meet the requirements before they can be allowed to enter, thus effectively ensuring the system’s data security. In addition, it also has the function of a network hard disk. After the network hard disk is established, the corresponding permissions can be set, so as to achieve the sharing of files and data within a certain range. This way of sharing files and data is obviously more It is safer and more convenient at the same time, so it is very popular with everyone.



Conclusion

In general, business intelligence trends are constantly improving. As one of the leading business intelligence software, FineReport represents the future development direction and trends of business intelligence. If you are looking for pathway to command future, why not click the button to get more information of FineReport?

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