Business Analytics and Intelligence Trends in 2022 | MBA Business Analytics Bangalore

Posted by Prof. Manoranjan HP On 16/09/2022 07:55:18

The market share leaders in the worldwide analytics market are still Microsoft, Google, IBM, Amazon, and Oracle. Additionally, Microsoft, Amazon, and Oracle are surpassing the market for all other providers. It's noteworthy to notice that the competition between the top analytics firms is not about "advanced algorithms," but rather Data Quality. MBA business analytics Bangalore

Here are some current trends in business intelligence and analytics:

  • With the help of collaborative BI solutions, self-service business intelligence has become even more democratic.
  • The newest business intelligence (BI) tools include mobile analytics that can be accessed anywhere.
  • COVID-19 has compelled a sizable portion of software providers to utilise the cloud. The adoption of Cloud-SaaS is also rising.
  • Natural language processing (NLP) has gained traction in artificial intelligence this year.
  • The focus of global businesses should be on data-driven cultures and programmes for data literacy.
  • Businesses are increasingly giving Data Governance and data security priority as a result of tight data rules.

Below are the Business Intelligence and Analytics Trends in 2022.

Trend 1: data quality management (DQM)

When it comes to guaranteeing the accuracy of analytics insights, data quality is crucial. Inaccurate insights can emerge from inaccurate data, which can then lead to poor business decisions. So, what makes for good data? Data of high quality is typically reliable, complete, timely, unique, and consistent. MBA College in Bangalore with Business Analytics

A strong BI platform's major differentiator is still data quality management (DQM), and DQM-connected business processes ensure that an organisation is in conformity with international data quality (DQ) and data governance (DG) requirements.

Trend 2: Collaborative BI

Businesses have been driven to quickly gather client data, customer preferences, and customer sentiments by social media platforms and interactive websites. Collaborative BI is in action when such robust data work is combined with cutting-edge BI tools.

Due to its ability to speed up report sharing, decision-making, and data collection, collaborative BI is quickly gaining popularity. Through web 2.0 platforms, collaborative BI encourages group problem-solving and open business debates. MBA in business analytics in Bangalore

Trend 3: Data Literacy

Businesses have recognised the value-added advantages of data-driven choices and data-powered, actionable insight. So that business users can make wise decisions in their day-to-day work life without the assistance of IT or Data Science teams, they now wish to empower all levels of their organisation with effective Data Literacy programmes.

In 2022, the focus will be paid far more attention to the data literacy programmes that are slowly gaining traction in the industry this year. According to this Inside Indiana Business article, data-driven corporate cultures need data literacy.

Trend 4: BI and Automation in Analytics

Compared to 2019, when just 55% of major firms automated data processing, this number increased significantly to 64% in 2020. For large-scale analytics initiatives, automation is essential because manual work will result in inefficiencies and a waste of time. In such circumstances, the human personnel will be more beneficial as data-driven decision-makers. MBA in entrepreneurship in Bangalore

Processing speed, which is crucial for corporate survival, is automation's major advantage. This page explains how AI-powered BI can assist in locating current insights and patterns.

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