march 01, 2023
Top business intelligence trends in 2023
The level of «data culture» affects the effectiveness of decision-making. That is, businesses need to train a kind of «digital agility» — the ability of teams to use technology and business intelligence tools, not just their own knowledge.
Best practices for managing data quality
The volume of data is growing all the time. To make the most of it, experts will be able to use Data Quality Management (DQM). Industry players will turn into «data efficient companies». In the next 5 years, 70% of corporations will control data quality, improving it by more than half while reducing business costs.
Predictive analytics as a barrier to fraud
Allied Market Research experts believe the global predictive analytics market will reach $35+ billion by 2027. Years of research into users’ online activity can create a multi-factor behavioural profile. An analytics system will be able to identify key trends and patterns in a user’s business data, find correlations in their behaviour and factors that will indicate a possible user hack. The more data, the better predictive analytics will be able to differentiate between hackers and genuine users.
Innovation of cloud services
The global cloud computing market will reach approximately $800 billion by 2028. That is, in the next five years, this consumption model will change the business landscape not only in terms of enterprise IT infrastructure, but also in how data is handled and analysed.
More mobile business intelligence
It’s an easy way to give customers and employees of multinationals access to the data they need from anywhere in the world. BI vendors will therefore offer customers a more sustainable and positive mobile experience.
The potential of mobile business intelligence can already be seen in how modern smartphones with artificial intelligence and machine learning capabilities are emerging. Working on mobile BI solutions will be a logical step for businesses. Mordor Intelligence predicts that this segment will reach an average annual growth rate of 22% over the next 3 years. And Market Research Future experts estimate the mobile business intelligence market at $61 billion by 2030.