In today’s blog, we continue with the trends and trends in which how you can use Business Intelligence tools to harness that data you have in your Smartphone. Here we go:
- The use of Storyboards:
In the financial sector, such as those of the banks, the use of storytelling and compiling them into storyboards is a common practice. This is used to depict on a macro level the market forces which are at play in both optimal and stressed economic scenarios. It is also expected that this trend will also spillover to the BI Tools as well. For example, rather than presenting the trends which can be gleaned from the datasets as just a mere Executive Summary, customers will want to have the ability in their BI Tool dashboard to create a story from this data. There are numerous reasons for this:
- To create more emotion from the data trends, which will thus drive the end user or even the business to take more action (such as reacting to a customer survey about a potential new product or service);
- Help the targeted audience (such as the C-Level Executive) not only to understand the significance of their data, but to promote positive decision making as well for the long term.
- The Cloud will take more precedence:
Using BI Tools and their respective datasets can be an expensive proposition, especially when a small business wants to use it for market intelligence. But with growth of the Cloud, this cost is expected to be gradually reduced in 2017. Not only this, but the overall Total Cost of Ownership (also known as the “TCO”) is also expected to decline, at a fixed and steady point which will be affordable to all businesses and corporations. It is also expected that as end users examine the trends and create their story boards from their Cloud based BI Tool, the use of Social Media will also grow equally in order to communicate with others. This includes the likes of YouTube, Twitter, Google Sheets and Google Analytics. Overall the launch of BI into the Cloud will become known in 2017 as “SaaS BI”.
Well, it is no surprise that the Cloud will take precedence in the usage of BI Tools. After all, the costs will be predicable, it will be affordable for all businesses, and will be reliable as well as stable. But the use of Storyboards? Well, as they say, “Content Is King”, and so will be the case for Business Intelligence Tools. Remember, it will no longer be about just numbers and datasets!!!!