The speed of producing data only got faster in 2019. As businesses continue to accumulate humongous amounts of data, their need for dynamic BI (business intelligence) and analytics is also evolving. While 2019 saw the rise of machine learning and AI-driven analytics, we can expect to see some game-changing trends that will drive the BI & analytics market in 2020.
From making analytics more accessible to people to data management and embedded BI, the following trends are likely to dominate 2020:
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ML & Data Science-Driven Automation
Businesses will look to automate and induce machine learning-driven analytics directly into their processes and operations so that insights are available to business users in real-time. Businesses will prefer solutions that can directly build BI & analytics capabilities into their business processes, such as in e-commerce, customer support systems, production lines, etc. so that decision making can be expedited.
From shuffling between multiple applications, business users prefer to view consolidated reports. This demand will continue to grow stronger in 2020, so the rise of embedded analytics. With embedded analytics, businesses will be able to deliver an integrated analytics experience to their users, with shorter learning curves and faster adoption.
Data as a service
Data as a service will emerge as a strong trend in 2020. The merger of cloud and BI technologies will empower businesses to make data access more concurrent, secure and cost-effective. With DaaS, enterprises will gain greater flexibility in terms of moving data across different platforms, administration, and compatibility.
IoT and Analytics
Analysis of data collected from devices started picking pace in early 2018 and it has only grown stronger. There are expected to be about 30.73 million of IoT (Internet of Things) connected devices in 2020, generating an ever-expanding amount of data. Being able to monitor and analyze this data not just for concurrent decision making, but also for predicting break downs, thresholds, and maintenance.
NLP Driven Analytics
NLP provides non-data experts with a new kind of interface into queries and insights. As per Gartner, almost 50% of analytical queries will be generated automatically or via voice. NLP will further promote the concept of citizen data scientists; nontechnical business users with no training on analytics will gain the ability to run complex queries with ease.
As we move towards a data-first approach, the BI & Analytics landscape will continue to evolve and boom with newer technologies. With the focus on giving more power to the business users in all ways possible; 2020 will be an exciting year for BI companies.
I hope you like the post, we will be posting more about BI trends and; related things to know about the impact of technology and its use in businesses. Please do share your views in the comments below. Also, share as sharing is caring. Keep checking back for more updates.