- Bienvenido a SINEP
- +1 (809) 816-7222
- [email protected]
The Evolution Of Business Intelligence Trends
Business Intelligence or (BI) is the process of using technology to collate, compile, and analyze data, translate it into useful information, and make strategic business decisions.
The evolution of business intelligence can be traced back to Richard Millar Devens’s time, where he explained how a banker bested his competitors by gathering information about market trends, which led to his success, in his book, “Cyclopaedia of Commercial and Business Anecdotes.” However, it was Hans Luhn who eventually coined the term business intelligence.
BI and data analytics technology are constantly evolving and the market shows no signs of slowing down. Naveen Miglani, CEO and CoFounder, SplashBI looks at how these changes have affected businesses in the last few years and what’s to come.
In recent years, the world of Business Intelligence (BI) has been turned upside down. Data became big, organisations adopted cloud computing, and spreadsheets took a backseat to actionable data visualisations and interactive dashboards. Self-service analytics grabbed the reins and democratised the world of data reporting products. Suddenly, advanced analytics wasn’t just for the analysts.
In 1958, a computer scientist, Hans Peter Luhn, published an article titled “A Business Intelligence System” in the IBM Journal of Research and Development that would later become the foundation for how BI is understood today. Luhn’s article suggested using technology to simplify the process of gathering data rather than sifting through mountains of information by hand. Today, we understand BI as such; using technology to compile and analyse data, translate it into useful information, and then making strategic decisions based on the results.
The recurring trend in next generation BI tools is that of simplicity. Complex data analysis has become a breeze with the introduction of self service analytics platforms. Advances in BI technology alleviate the stress and labour hours of gathering, sorting, and using data to make informed business decisions. But how have these changes affected businesses in the last few years – and what’s to come.
Ver más: https://splashbi.com/evolution-of-bi-trends/