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Let’s start with the most popular quote “knowledge has become the key economic resource and the dominant, if not the only, source of competitive advantage.”-Peter F.Drucker
Important thing that get my attraction is the word “knowledge”, he says “knowledge has become the key economic resource” not the “data has become the key economic resource”. It’s important that we distinct those two concepts. Every industry has data. Most have a lot of data. But these all bulk of data are different from the knowledge.
Knowledge is refined data and it is hard part. Now how we can turn data into knowledge? That is which calls the need for the business intelligence.
Business intelligence is providing its services to turn unusable data into important and actionable insights.BI consultancy services can improve visibility, and provide better insights into the customer relationships with efficiency and so much more.
To get the most benefits from the Business intelligence, it’s important that you need to stay ahead of the curve. The technology in the world of the Business intelligence Solutions changing constantly. New technologies, tolls emerged. New trends are taking hold. If you can stay ahead the curve then you definitely can convert your data into knowledge.
Where BI headed this year? Let’s discuss the trends to watch this year
The rise of Big Data Analytics in Austria
In the past few years, big data has taken the show. Businesses have concentrated on getting a knob on the flow of data. How can you capture, store, and analyse this data in the most effective way? Business intelligence must answer in the near future “how quickly data can turn into something useful”. Trend goes beyond the scope of “big data”, the need is fast data. So speed will be new trends in BI word in coming years.
Transition of traditional BI to self-service BI
As the need of the speed of getting important knowledge from massive data is on the increase, it will directly affect your bottom lines. And also business intelligence is becoming an end-user oriented task than IT-driven task. As tools improve and the new trends taking the hold the need for self-service BI is quickly usurping traditional efforts.so self-service BI In Austria is the brand new trend.
The involvement of AI within the Business Intelligence
Data is growing in volume, and at an unparalleled pace. But, without a way to turn this data into understanding, it compromises little value. Problem is that we are lacking data experts. The growing speed to deal with big data. All these factors are driving force behind the growth of artificial intelligence within BI and helping to get improved Big Data Visualization in Austria .