Data is at the core of nearly every business that helps you understand and improve business processes. In this modern era ruled by data, AI is evolving into a significant driver that shapes the day-to-day business process and Business Intelligence decision making.
Business Intelligence (BI) refers to the use of technologies, applications, and strategies used by organizations for analyzing data. Over the past few years, BI software has evolved into three essential areas, namely Descriptive analytics, Predictive Analytics, and Prescriptive analytics. Though BI systems are supposed to provide better decisions, the reality is something different. Majority of the BI tools tells you what was and what is, while what to do – clear insights for how to use that data in decision-making, remains unanswered.
Thankfully, Artificial Intelligence (AI) is shaping the wave of innovation to empower humans to work better, faster, and smarter. Small to large enterprises are adopting this technology to improve the efficiency of the business process and to deliver more customized user experiences.
How is AI Shaping the Future of BI?
AI can power BI to deliver better insights into your business data by transforming it into simple, secure, accurate, real-time reports, and notifications. Let’s dive in deeper to understand why BI needs Artificial Intelligence.
Analyzing through 1000s of charts, reports, and confusing dashboard to find what is essential and relevant becomes nearly impossible. Data Analysts may take hours to complete routine tasks, which gets automatically handled by AI. Moreover, with AI-powered BI tools, the software can digest all the data to deliver tailor-made insights with a few clicks.
Escape from Big Data Overload
The big data growth is at an unprecedented pace today and can easily clog business operations. Enterprises are investing in big data tools to scrutinize the data and aggregate it. However, Artificial intelligence-enabled BI solutions can help bifurcate mountain of data into manageable insights.
Real-time Business Insights
Big Data can be analyzed for business insights that lead to strategic moves and better decisions. However, with the three essential factors of big data – volume, velocity, and variety, this is difficult. Thanks to AI-empowered BI tools that provide alerts with business insights for critical decision-making.
Bridges the Gap
As AI can monitor and analyze a tremendous amount of data, managing a system no longer requires a highly trained data scientist. AI-driven Business Intelligence bridges the gap for average business users who don’t have in-depth technical knowledge by making the data more insightful and understandable.
Effectiveness with Personalization
Personalized dashboard and reports can enhance user productivity and efficiency by showing relevant information that precisely fits your current business needs. AI-powered systems enable tools to do this automatically by learning from the user’s behavior.
Business intelligence development, powered with Artificial Intelligence, has brought massive changes in the business world. It seems like AI is the future of Business intelligence as they together make a robust system. Hence, rather than spending money on tools that require human intervention to analyze data manually, organizations should make an intelligent investment in the futuristic BI and AI-powered systems.