5 trends in business intelligence and analytics in 2021

5 trends in business intelligence and analytics in 2021


There are few fields in which developments follow each other as quickly as in BI and analytics. Thanks to innovations in technology, there are more and more possibilities for data and everything is moving faster and faster. Everyone can now use the cloud. That seemed unfeasible five years ago. Most companies are no longer asking themselves whether BI matters, but how best to use it. What can we expect in 2021?

Data visualization

This trend may literally define what 2021 will look like. The user experience of business intelligence tools is increasingly determining the success of BI solutions. Our brain can process visualized information more easily, so good visualizations are a must for effective tools. In addition to data visualization, data discovery also plays an important role: how long does it take to uncover relevant insights? How versatile is the information provided by the solution? Data visualization and discovery are evolving and we expect to hear a lot about them this year.

Machine translation

Big data and analytics have greatly improved the quality of machine translation for simple texts. Some deep learning studies already showed that people had difficulty distinguishing machine translation from texts translated by humans. Getting the same message across is increasingly successful with machine translation, but for a smooth text, translation by the professionals of a translation agency is still the best solution. No doubt machine learning and text comprehension will continue to improve in 2021.

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Predictive analytics

Predictive analytics is currently a popular topic in BI. It is based on data mining, extracting information from big data to make predictions. This technology can provide greater insight into risks and opportunities for a company, as well as customers, products and partners. The added value of predictive analytics increases rapidly as developments cause risks and margins for error to narrow. Predictive analytics is currently mainly used by large enterprises, but it will eventually be available to everyone. By 2021, steps are already expected to be made in self-service predictive analytics and related prescriptive analytics.

Prescriptive analytics

Prescriptive analytics is a form of data analytics that looks at what decisions you need to make to achieve a particular goal in the future. This technology is based on a combination of machine learning, simulations, recommendation engines and complex event processing. With prescriptive analytics, we can optimize processes and determine what future expectations and desires might be. Basically like predicting BI trends for 2021.

Artificial intelligence

All of the above trends are based on artificial intelligence and machine learning. These technologies help us look at data in a completely different way and process vast amounts of information with a single model. Companies now no longer have to base their decisions solely on historical data, but can instead make predictions based on that data to improve their policies and workflows. Moreover, more and more such predictions and analysis can be generated automatically, without the need for an experienced data scientist. We expect that by 2021, more of these insights will become easily accessible to end users through tools that do not require extensive IT knowledge. With developments in AI, we may soon even be able to interact with these tools in plain language instead of through a software interface or dashboard you have to learn to use.

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