Analyzing Business Intelligence Trends: Data Handling and AI Tools

This report examines current business intelligence (BI) trends, focusing on how companies are adapting to evolving requirements accelerated by events like the COVID-19 pandemic. It highlights key trends such as the integration of Artificial Intelligence (AI) for enhanced data analysis and automation, the application of predictive and prescriptive analytics tools for future forecasting and decision-making, the importance of data literacy across organizations, the use of data visualization and storytelling for better comprehension of insights, and the adoption of SaaS and cloud analytics for improved data accessibility and backup. The report emphasizes that embracing these trends and investing in robust BI solutions are crucial for businesses to navigate future challenges and effectively utilize complex data for strategic advantage, with the right methodologies ensuring optimal outcomes.

Handling and Business
Intelligence

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK...............................................................................................................................................3
Artificial Intelligence..................................................................................................................3
Predictive & Prescriptive Analytics tools...................................................................................4
Data literacy................................................................................................................................4
Data Visualisation and storytelling.............................................................................................5
SaaS and cloud analytics.............................................................................................................5
CONCLUSION ...............................................................................................................................5
REFERENCES................................................................................................................................7
Online..........................................................................................................................................7

INTRODUCTION
Many corporations are still adapting to modified necessities because of the COVID-19
pandemic. Although the scenario now appears less acute and extra long-time period adjustments
towards a 'new normal' are at the horizon, daily enterprise is far way from settled. While many
corporations are now also reeling from the past 2 years events, a few are coping with to satisfy
and outperform expectations. Irrespective of wherein the corporation falls alongside this
continuum, one of the key enablers of technology supporting corporations gradually navigate this
sudden change and make sure enterprise continuity is BI. Business Intelligence consists of the
techniques and technology utilise by businesses for the purpose of analysis of data and business
information management. This report demonstrates different current business intelligence trends.
It includes identifying current trends in data warehousing, business intelligence, and data mining.
TASK
The following are the current business intelligence trends:
Artificial Intelligence
This is a BI trend which is being covered through Gartner in the latest Strategic
Technology Trends report, integrating AI with hyper automation and engineering, and targeting
the extent of safety wherein AI risks growing assailable factors of attacks. AI is the technological
know-how aiming to make machines execute what's normally performed through complicated
human intelligence. While working on applications to keep away such inconvenience, Artificial
Intelligence and machine learning are revolutionizing the manner we have interaction with our
analytics and management of data while increase in safety measures should be taken into
consideration. It is anticipated that in the next years' AI will develop into a greater accountable
and ascendable technology as corporations would require a lot greater from Artificial intelligence
based structures. Another function that AI provides in Business intelligence solutions is the
upscaled insights capability. It absolutely analyses the data by automation with no need for any
extra attempt. It is definitely required to pick the data source needed to research on and the
column/variable (for example: revenue) that the set of rules have to focus on. That is a great time
advantage as what's normally dealt with through a data scientist may be achieved through a tool,

providing business client with way to high-rate insights and a better apprehension in their data,
even without a sturdy IT background (Artificial Intelligence, 2022).
Predictive & Prescriptive Analytics tools
Predictive analytics is the exercise of extracting records from current statistics units so
one can forecast probabilities for future. It's an extension of data mining which is relevant only to
historical data. Predictive analytics consists of predicted future statistics and consequently
continually consists of the opportunity of mistakes from its definition, although the mistakes
gradually decrease as software program that manages big volumes of statistics these days turns
into smarter and extra efficient.
Prescriptive analytics is about further going a step into future. It examines statistics or content to
decide what choices have to be made and which steps are taken to acquire supposed goal. It is
defined with the aid of using strategies like graph analysis, simulation, complicated event
processing, advice engines and machine learning. Prescriptive analytics attempts to peer what the
impact of future choices can be so one can alter the choices earlier than they may be simply
made. This improves decision-creating a lot, as future results are considered within the
prediction. This type of analytics let you optimize scheduling, production and inventory to
supply what your clients need within the maximum optimized way, and those are a number of
the rising developments in BI 2022 that is heard extra about (Predictive & Prescriptive Analytics
Tools, 2022).
Data literacy
As data turns into the inspiration of strategic choices for corporations of all sizes, the
potential to recognize this records and use it as a collaborative device that everybody within the
corporation can use turns crucial for success. Data literacy may be one of the applicable data
analytics trends to appear out for in 2022. Data literacy is described as the potential to recognize,
read, write, and speak records in a selected context. This means apprehending the strategies and
techniques used to investigate the records in addition to the tools and technology enforced. Even
with the upward thrust of self service tools which are on hand for everyone, records literacy is
still the inspiration of a prosperous data driven culture. Business leaders are liable for supplying
the required training and tools to the complete corporation so that everybody may be empowered
to work with records and analytics. To acquire a prosperous records literacy process, a cautious

evaluation of the capabilities of personnel and executives required to be made with the intention
to become aware of susceptible spots and gaps (Data Literacy, 2022).
Data Visualisation and storytelling
Storytelling and intuitive visuals are attractive methods to assist customers apprehend
essential insights. Data visualization turns enterprise facts into charts and graphics that customers
discover less difficult to apprehend than blocks of textual content and numbers. Data storytelling
places records into context via way of means of constructing a story around essential metrics,
whether or not through dashboards, interactive reviews or stunning visuals. Dashboard software
program is evolving from easy KPI tracking to in-depth records evaluation through augmented
analytics and interactivity (Data storytelling, 2022). Customers can request facts in language
which is natural and look at the consequences in an easy-to-apprehend format with the use of AI-
ML. They can associate records with context to become aware of in which to be attentive at any
given second and create indicators for modifications in records. Collaboration permits facts
manufacturers and consumers, and outside stakeholders to perform collectively in a single
centralized hub (Data storytelling, 2022).
SaaS and cloud analytics
Many corporations in particular those with on-premise information storage, warfare with
sharing crucial information with the respective personnel. The end result become a logistical
nightmare wherein many humans have been not aware of the large picture. The disastrous
improvement of Square Enix's game, Outriders, is an splendid example. In this type of case, it
turns into vital to make the essential documents to be had via a cloud computing solution,
whether or not public, private, or SaaS. A cloud solution now not only makes effective, it makes
the information extra reachable however ascertains a backup have to be there if any documents
get corrupted (SaaS and Cloud Analytics, 2022).
CONCLUSION
The rising trends of business intelligence preserve huge guarantees for corporations. The
proper tools matter, however one could extract the best from them via proper methodologies.

Given the never finishing want to research facts, making an investment in Business Intelligence
and analytics is becoming a must for corporations across the world. It is essential to hold a finger
at the pulse of the marketplace to recognize the modern day developments, for a future-equipped
approach. These tendencies can act as a baseline whilst embracing Business Intelligence and
analytics or comparing vendors. Corporations in all sectors ought to seek to efficiently use the
insights supplied via BI as their facts turns into more complicated and diverse version. It is never
too late to put into effect a sturdy BI solution now, making ready the business for any demanding
situations that might arise with the future.

REFERENCES
Books and Journals
Online
SaaS and Cloud Analytics, 2022. [online]. Available through;
<https://www.zyxware.com/article/top-5-business-intelligence-bi-trends-you-cant-
ignore-in-2022>
Data storytelling, 2022. [online]. Available through; <https://www.analyticsinsight.net/7-
business-intelligence-trends-to-watch-out-for-in-2022/>
Data storytelling, 2022. [online]. Available through; <https://www.selecthub.com/business-
intelligence/business-intelligence-trends/>
Artificial Intelligence, 2022. [online]. Available through;
<https://www.datapine.com/blog/business-intelligence-trends/>
Data Literacy, 2022. [online]. Available through; <https://bi-survey.com/top-business-
intelligence-trends>
Predictive & Prescriptive Analytics Tools, 2022. [online]. Available through; <https://bi-
survey.com/top-business-intelligence-trends>