The most important trends in Business Intelligence in 2022
Undoubtedly, Business Intelligence (BI) has become an indispensable tool for large and small organizations. Thanks to modern data analysis, companies from various industries can make more accurate decisions, accelerating growth and income from their operations. The BI industry is constantly changing, the best proof of which are the trends leading in 2022. We take a closer look at them below.
Business Intelligence – what is business analytics?
Business Intelligence (BI) is, according to one definition, a set of practices, activities, and technologies that enable the transformation of raw data into structured information of business importance.
As part of BI, companies from almost any industry can collect data from internal IT systems, various databases (including ERP systems), and external sources (e.g., servers, clouds, or data warehouses).
This data is then analyzed and used for visualization. The results allow managers to draw conclusions based on the data and make operational and strategic decisions.
BI trends 2022 – how is business analytics changing?
The ability to use data is the most crucial trend in BI – more and more companies realize the benefits of collecting and analyzing data. The way Business Intelligence uses the potential of data is constantly changing.
Data storytelling, or “data storytelling”
Most systems present data resented in a boring, incomprehensible way. In the BI world, an approach to building a narrative and visual imaging of data so that it is both accessible and exciting for recipients plays an increasingly important role. Effective “data storytelling” means translating dry figures into effective and engaging forms and thus effective in their message.
Data visualization
The trend of 2022 in BI is also data visualization. Using online data visualization tools to perform these activities becomes an invaluable resource for generating relevant insights and creating a sustainable decision-making process. The ideal data visualization software is easy to use, flexibly adjusts to the needs of a given organization, allows you to conclude from the presented data quickly, and simultaneously allows you to handle large amounts of data from various sources.
NLP – Natural Language Processing
Another trend that is growing in importance in the area of Business Intelligence is NLP (natural language processing). More and more tools use natural language processing, a technology that combines the field of linguistics and artificial intelligence (AI). The goal of NLP is to improve the exchange of communication between a person and a machine (computer) using natural language. NLP is about converting a language (English, Polish, and many others) into a language understandable by computer systems. NLP may include translating texts, correcting their content, or processing written text into speech.
SAP Analytic Cloud
Finally, it’s worth mentioning an equally important trend in business analytics – SAP Analytic Cloud, i.e., a BI – a tool that allows you to prepare advanced analyses and explore data from many different sources using one centralized system. Thanks to a cloud solution based on the Software as a Service (SaaS) model, the system combining business analytics, predictive analytics, and business planning provide access to a constantly up-to-date and secure application.
Business intelligence is more critical today than ever before. With its help, companies can make most of the decisions based on the collected data. As technology advances and business needs change, Business Intelligence evolves, setting new challenges for companies.
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