Business Intelligence (BI) refers to technologies, applications and practices for the collection, integration, analysis, and presentation of business information. BI encompasses a wide variety of tools, that enable organizations to collect data from internal systems and external sources, prepare it for analysis, develop and run queries against that data, and create reports for better decision making process. Benefits of business intelligence include – improve efficiency, better inventory management, identify new revenue opportunities, and get insights to make accurate and timely business decisions.
2018 was the year of GDPR. The General Data Protection Regulation not only became visible to everyone using the internet and suddenly having to agree to lots of data privacy declarations, cookie consents and opt-in modalities. Even more importantly, GDPR affected businesses and how they handle, delete and store data.
As organizations prepared for the GDPR to be implemented in 2018, data governance was already a trending topic in last year’s edition of the BI Trend Monitor, and it remains among the top trends due to the many remaining open questions regarding the implementation of sustainable data governance, covering topics such as data access, privacy and security but also roles, skills and processes. Although most of the other trends within the IT landscape are not so directly connected to a specific regulation or law, their impact can be equally powerful and decisive for future business success.
BARC’s BI Trend Monitor 2019 focuses on the main drivers within the BI and data management market. Gathering experience from 2,679 participants, we asked users, consultants and vendors to assess the most important BI trends. These trends are compared by industry, regional and company-specific variables and provide insights into the latest developments on the BI market.
With the rising complexity of the business intelligence environment, the identification of trends and market developments is a key factor in effective decision-making. It is increasingly important to use the latest technologies and approaches in order to cope with digitalization and market competition.