Big Data for Business Intelligence: Trends, statistics, facts and more
Gartner, an IT research and advisory firm, recently disclosed the three big data trends for business intelligence. These trends define the capability of big data to modify business processes in the immediate future, providing insights to companies’ leaders to transform from just focusing on internal information management and value generation to also participating in the evolving global pool of information assets.
The trends include the following:
Date will be utilized to eradicate or convert into digital forms about 80% of products and business processes by 2020.
Gartner claims that five years from now, operational processes will be digitalized as the Internet of Things (IoT) continue to advance. This continual growth on business intelligence, data mining tools, and the capability of things to produce novel kinds of real-time data, will automate outdated processes, including both human and physical elements. Employees, customers and citizens will mainly become “digitally”engaged in the process. More business decisions will be algorithm-based, which Gartner is calling automated judgment.
By 2020, things will become super agents for many things, including people, businesses and services, which are currently delivered through human intervention. This is because of added communications, connectivity and intelligence of things.Click here to read more about this article
Two years from now, more than 30% of access to big data by enterprises will be through data broker services.
Awareness of situation in real time is crucial in any business, including insights such as the impact of weather in the product inventory and the preferences expressed by customers in the social media. To achieve such kind of awareness, you must gain more access to big data and use that data to have a better understanding of how external factors affect your bottom line. Since the data that are obtainable within your internal database is insufficient to deliver the required context awareness to handle the viciously competitive digital business in manufacturing, marketing, financial, transportation, as well as other crucial business decisions, you need to make use of external data found in many web sites, social media sites, and other open data sources. However, such data is highly fragmented.
Thanks to cloud services that are business-centric, these data can be delivered and ready to be utilized as context in the decision-making process, be it automated or human. This premium data prepared by data brokers will be a vital part of well-informed business decisions and intelligent business operations.
More than 20% of analytic deployments facing customers will further leverage the IoT by 2017 through offering product tracking information in their products.
Sensors become less and less expensive, resulting to more and more products being embedded with sensors. Gartner foresees that this speedy growth of the Internet of Things will generate an innovative style of analytics related to facing customers, called product tracking.
As an example cited by Gartner, a car’s sensor can alert the driver that it is time to have its oil changed. This leads to a valuable opportunity for the company to enhance transparency and reinforce customer relationships. In the end, it can be a key factor differentiating your business from your competitors.
The world is advancing faster than ever before. To stay ahead of the competition, get into big data now and reap all the benefits. This is where Four Cornerstone can help you. Not only can Four Cornerstone assist you with big data platforms and systems; we also have the expertise to help you get the insights you need from your big data.
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Photo by Christoph Scholz.