The importance of data in all areas has increased rapidly in recent years – especially in the business world. This trend will continue in 2020. So a data-driven corporate culture and the analytical capabilities of business users, for example through self-service BI, remain important issues.
The following important BI and data trends for 2020 show which further developments will dominate the business intelligence sector this year.
Data literacy as an increasing important factor
Data is playing an increasing important role, especially in the business world and information technology. Due to various aspects, such as the increasing prevalence of cloud solutions, there are hardly any limits to the storage capacities in modern companies anymore – the long-established term “Big Data” is changing more and more into “Wide Data”. Because data formats are becoming more and more diverse and fragmented, we also need new ways of dealing with data amounts that are no longer just “big” but also “wide”. In addition to suitable databases, technologies and analysis tools, meeting this new challenge requires above all competent employees who are able to deal efficiently with the wide variety of data. According to some forecasts, this will be remedied in the future by data literacy as a service – a combination of software, training and support “as a service”.
Modernization of data architecture and interaction options
Data in companies comes from more and more different data sources and is increasingly distributed. A major challenge is therefore to take an inventory of all the information and put it together. If this ain’t done, there is a risk that the data will be forgotten and become obsolete, and the data quality will decrease accordingly. Data catalogs, which provide a better overview and transparency of the existing data and regulate the access, are becoming increasingly popular in this context. A new and promising solution are also Metadata catalogs, which are supported by Machine Learning. According to experts, Machine Learning and Augmented Intelligence will generally have an increasing influence on data analysis in the future – e.g. in the form of immersive interaction techniques such as voice or even thought control.
Data Governance on the advance
A constantly growing range of data sources necessarily entails many risks. Although data can be generated faster by machine, it can also be manipulated more easily – in addition to the continued high relevance of data quality, “data governance” is therefore becoming increasingly important. Corresponding guidelines and procedures for ensuring data quality and security and for complying with legal requirements will continue to gain in importance in the coming years due to the ever-increasing data volumes and sources.
In addition to the trends listed above, other developments and popular topics in the data and BI world are becoming apparent for the future. For example, the expansion of data management and analytics (e.g. through DataOps or Advanced Analytics) will continue to be an important area, as well as the use of data in processes (e.g. through Embedded Analytics).