6 Business Intelligence Software Trends and Tips for June

During a 2012 episode of CNBC’s Squawk Box, host Joe Kernan asked his guest, Ann Winblad, acclaimed investor and principal at Hummer-Winblad, “What is the next really big thing?”  

“Data is the new oil,” she asserted.

Winblad’s pronouncement echoed Peter Sondergaard, SVP at Gartner, who said months earlier, “Information is the oil of the 21st century, and analytics is the combustion engine.” 

Fast forward six years and Winblad’s declaration has assumed the force of a wildcat geyser spurting at Spindletop. Business intelligence has ignited a frenzy of expectation and speculation. Making sense of data has become job No. 1 for CIOs, CFOs, and CEOs. For good measure, Sondergaard added that strategically pursuing BI and analytics will create an “unprecedented amount of information of enormous variety and complexity.” 

Companies late to the game – or ignoring BI and analytics altogether – do so at their own peril. To paraphrase a T-shirt seen often on a Little League field: Some competitor, somewhere, somehow is practicing BI and when you meet, they will win.  

Fear motivates, but with today’s businesses, analytics should motivate more. According to former CEO of Hewlett-Packard, Carly Fiorina, “The goal is to turn data into information, and information into insight. 

In this blog post, we share six current and relevant trends and tips emerging from the BI software market. 

1. Compare & Contrast: the difference with a distinction between BI and Analytics

Rahul Sharma for TechGenix explores the similarities and differences between BI and Analytics, in terms of role, impact, implementation and strategy each can bring to a company. Rahul may have divided an atom, and the result is just as enlightening. 

2. Use BI and Analytics to keep your customers happy

In MarTechExec, Lana K. Moore asked several business principals what they see as the benefits behind using BI and data analytics to keep customers happy. The five takeaways reinforce the advantage of adopting BI.

3. BI helps reconcile projected budgets against real-time economic forces

With a shot over the CFO’s bow, Ed Grohmann, Chief Product Officer at Centage, cautions that deploying business intelligence can be a tossed life-ring to some companies taking on water. He argues that trying to reconcile a projected budget with economic reality has historically been difficult; so why not use BI to get sooner, deeper, better analytic snapshots of bottom-line health? 

4. Digital marketers and the GDPR: Comply – or else?

No. GDPR is not some emerging, new Cold War superpower challenging global US dominance. But you might have thought it was capable of halting the earth’s spin when it took effect on May 25. And while predictions regarding the General Data Protection Regulation may not have proved immediately dire, Datorama’s Chief Solutions Officer, Katrin Ribrant, cautions digital marketers on compliance with the new law and its effect on collected data.

5. Machine Learning, Artificial Intelligence improvements will drive tomorrow’s BI

And, if today’s BI is being affected by sweeping regulation, tomorrow’s will be influenced by advances in two technologies: Machine Learning and Artificial Intelligence. For ZDNet, Doug Henschen identifies areas of ML and AI improvements that will foster better, quicker data preparation, discovery, analysis, prediction and data-driven decision making.

6. Immediate Sign of the Times: Tableau acquires AI startup, Empirical Systems

In an effort to enhance its large-scale data modeling, Tableau has acquired Empirical Systems, an artificial intelligence startup, launched on M.I.T.’s storied campus. Key to the deal is Tableau’s gaining access to Empirical’s Analytics Engine, a tool that automates many of the most difficult tasks involved with data modeling. Overall, this deal is about making it easier for Tableau users to extract insight from their numbers. And its a harbinger of BI to come.

Before you go, consider the savvy claim of the late, great Peter Drucker, “father” of modern business management:

“What gets measured gets improved.”  

Feel free to leave a comment, tweet at us, visit our Facebook page or advise us of BI trends you’ve noticed lately. In the meantime, if you’re looking to decide which BI software to consider, visit our reviews 

 

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