Business Intelligence Is Now More About Analytics & Visualizations
Business Intelligence (BI) has changed and continues to change!
From 1865, when it was coined by Richard Millar Devens in “Cyclopædia of Commercial and Business Anecdotes”, to now, it has gone through several transformations. For a long time, it was seen as a natural companion of “data warehouse”, and it was almost a foregone conclusion that BI reporting would be driven out of a data warehouse-like repository.
Not necessarily; not any more.
New Age BI Applications
What is driving the change? The possibility of encountering humungous data; the availability of big data products; the availability of affordable storage; and availability of statistical analytics tools – are compelling reasons for companies to rethink their BI requirements. As if this is not enough, the information consumers are armed with latest smart-phones and expect same level of sophisticated user experience from BI application as other apps.
Typical technology stacks, now contain multiple building blocks from those listed below.
Based on Xoriant’s engagements with several clients, we can safely say that the power of statistical analytics and appealing visualizations is the order of day and is likely to make a big impact to the clients who adopt these new technologies in their strategic and operational uses of Business Intelligence.