Over the course of several innovative years, the way we do business has changed drastically. We’ve said our goodbyes to manually imported data, to flash drives for exchanging that data, to emails as the only way to communicate, and to linear information collection only to have us, humans analyze it.
We’ve created an entire ecosystem consisting of big data in the service of businesses, everlasting connectivity, artificial intelligence, multi-layered security measures, and data analytics beyond our wildest dreams. All of that, and then some, has been enabled by some of the most refined tech solutions businesses have yet to fully utilize, all summarized under a single notion – business intelligence.
These solutions have a multitude of abilities all devised to help you, as a business owner, get to know your customers better, provide a more tailor-made service, spot gaps in cybersecurity, and save resources in the form of your employees to manage other, less “dry” tasks. In the past few months, new business intelligence trends have been taking form, so let’s see which advancements you can expect in 2020 and how your business can benefit from them.
AI is getting more traction
The usage of AI is no longer news in the world of business, as we’ve entered an era where its implementation has become so widespread that we practically use some form of AI every day even in our domestic lives. However, the hype around AI in the world of business isn’t waning at all. On the contrary, as new solutions are invented, more companies are beginning to implement AI into their own strategies, from data collection, analysis, all the way to customer service boosting via chatbots.
AI is known to be much more efficient than humans, as its machine-learning algorithms never fail to spot anomalies, learn from behavio
Online filtering for greater control
If you work in a small company with a handful of employees to manage, it’s all too easy to spot someone wasting time on social media during work hours. On the other hand, we’re creatures driven by emotions and we are easily distracted, so it’s natural to assume that most employees, at one time or another, aren’t as productive as they could be. Simple, but profoundly powerful web filtering solutions are the best way for growing businesses and organizations to make sure their employees have access to the information they need, but not the platforms or sites that would only waste their time.
Such systems can give you insights into your employees’ behavioral issues and potential desire to resign from their position. You can use these solutions to scale workload equally, so that you don’t have a single employee struggling to cope with a multitude of tasks while a handful of employees are procrastinating. As businesses grow, this is not the kind of monitoring that can be done by humans.
Novel security measures
Technology innovations are not limited to business intelligence used to benefit companies or employees only. In fact, with the growth of our digital knowledge and innovation, we’ve also seen a spike in cyber-attacks and more threats coming from the digital world. More companies are dealing with security breaches, data mismanagement, and a wide array of other security issues. In response, business intelligence will evolve even further to help companies provide a secure service.
Starting with stricter, more specific legal regulations dealing with privacy, data collection, and data storing, all the way to actual software solutions that help prevent and block security threats, business intelligence is being paired with the ethics of our online existence to make sure all parties are treated fairly and securely. Not to mention new and improved security steps the likes of advanced encryption methods and the use of multi-step verification, all of which are meant to bring businesses peace of mind.
Data analytics grows more intelligent
Thus far, we’ve covered how we’ve been using BI to collect data and store it (or not store it in certain instances), but another vital aspect for companies looking to grow revolves around data analysis. Now that we have the means and the smart tools to target and collect specific bits of information, such as those to show us customer preferences, to help us personalize content presentation, and those meant to help us recognize repeat customers, we also have the tools to filter through the data more effectively.
Our BI tools are now becoming more refined in order to spot patterns, recognize opportunities, and eliminate useless information. They turn piles of numbers into meaningful stories that help businesses adapt their strategies and their presentations. In the months to come, we’ll see an even more “polished” take on data analysis thanks to our advanced BI solutions.
Business intelligence has taken the world by storm, and it seems that not all of the attention should go to AI alone. As we approach 2020, we can expect even greater leaps of innovation in the realm of BI, aimed to help us make our businesses safer, more productive, and more secure for our customers and employees alike.