Tags: Business Intelligence
Published: 18th December 2017
Author: Emily Neill
In 2017 we saw significant shifts in the BI landscape, both in terms of technological change and also in what businesses expect of their BI function. Here are the highlights from the Iridium team.
• Big Data is dead – well not exactly dead, but the Big Data technologies are now being used to integrate any type of data stream, e.g. high volume IoT data or (relatively) low volume ERP data. So we end the year going back to talking about “data”, there is no longer any need to separate out Big Data as a different concept or terminology.
• Cloud is ubiquitous – People stopped asking “should I put my data in the Cloud”, the Cloud has finally become ubiquitous as the level of security provided by the major vendors far exceeds anything that most companies could ever dream of setting up, and the subscription style pricing makes it available to all. For those who now have moved significant amounts of their systems to the Cloud, there was the realisation that they may need to consider parallel systems with multiple Cloud vendors for the most robust disaster recovery solutions.
• GDPR made us rethink everything – and not just in tech circles – you’re now likely to be talking about it at the dinner table. We’re starting to see the effects already as companies send out emails saying “if we don’t hear back we’ll stop sending you marketing…” Our inboxes heave a sigh of relief.
• No magic wand found yet for data cleaning – a well quoted 80% of time is still being spent on cleaning data before it can be used for analytics. And very often this is not fully budgeted for.
• Insights overhaul – Businesses are demanding more of their business intelligence and insights functions. More frequent data updates, more forward-looking analysis, more fact-based decision making. We have seen a decline in the traditional marketing-based insights role, and a rise of the techies. Companies are bringing in data scientists and senior execs with science-based qualifications to revolutionise the BI function. Often these sit within IT or finance, rather than marketing. The next challenge is to bring the techies together with the business people and find a common language.
Here’s looking forward to working on these challenges in 2018, meanwhile very best wishes for a happy Christmas and New Year!