Gartner analysts will discuss how the ‘Nexus of Forces’ will impact BI and analytics, and also share best practices for developing and managing successful mobile BI, analytics and master data management initiatives, in these meetings.
In the opinion of Gartner, Inc., BI leaders must embrace a broadening range of information assets to help their organizations with more actionable insights.
"New business insights and improved decision making with greater finesse are the key benefits achievable from turning more data into actionable insights, whether that data is from an increasing array of data sources from within or outside of the organization," said Daniel Yuen, Research Director at Gartner. "Different technology vendors, especially niche vendors, are providing organizations with the ability to tap into this wider information base in order to make sounder strategic and prompter operational decisions."
Gartner also put out three key predictions for BI teams to consider while planning:
- By 2015, 65 per cent of packaged analytic applications with advanced analytics will come embedded with Hadoop.
- By 2016, 70 per cent of leading BI vendors will have incorporated natural-language and spoken-word capabilities.
- By 2015, more than 30 per cent of analytics projects will deliver insights based on structured and unstructured data.
The analytical firm said that the trend of embedded purpose-built Hadoop-based analysis function within packaged application offerings was so far noticeable with cloud based applications but would become the industry norm in the years to come as more and more organisations realised the strength that Hadoop-powered analysis brings to big data programs, particularly for analysing poorly structured data, text, behaviour analysis and time-based queries.
"Organizations with the people and processes to benefit from new insights will gain a competitive advantage as having the technology packaged reduces operational costs and IT skills requirements, and speeds up the time to value," said Bill Gassman, Research Director at Gartner.
Also, over the next few years, BI vendors were expected to start playing a game of catch-up with the virtual personal assistant market. Initially, BI vendors will enable basic voice commands for their standard interfaces, followed by natural language processing of spoken or text input into SQL queries. Ultimately, "personal analytic assistants" will emerge that understand user context, offer two-way dialogue, and (ideally) maintain a conversational thread, the statement added.
The focus of Business analytics on tools, technologies and approaches for accessing, managing, storing, modelling and optimizing for analysis of structured data was changing. This was because organisations were now striving to gain insights from new, diverse and even previously untapped data sources.
"Organizations are exploring and combining insights from their vast internal repositories of content — such as text and emails and (increasingly) video and audio — in addition to externally generated content such as the exploding volume of social media, video feeds, and others, into existing and new analytic processes and use cases," explained Rita Sallam, Research Vice-president at Gartner. "Correlating, analysing, presenting and embedding insights from structured and unstructured information together enables organizations to better personalize the customer experience and exploit new opportunities for growth, innovation and even new business models."
[Image Credits: Gartner]