Evolving from Traditional Business Intelligence to Modern Business Analytics
How to support requirements for self-service, faster data access, trusted data, and better governance
This TDWI Best Practices Report focuses on the evolution from traditional BI and data management to more modern business analytics based on an updated data stack increasingly based on cloud platforms. The report discusses tools and practices necessary to create satisfying user experiences, including improved data integration, cataloging, and management. The report also looks at organizational priorities for higher data literacy and effective governance.
One of the most important trends is how technologies are augmenting human data interaction with artificial intelligence (AI). Techniques such as machine learning and natural language processing are improving the scale, speed, and accuracy of business analytics. AI-guided automation is reducing delays and streamlining steps that have traditionally been dominated by manual work. However, amid the excitement about AI, our research underscores the importance of providing tangible benefits to users. The majority of research participants surveyed, for example, would like to see AI-driven insights integrated with their daily dashboards and key performance indicators (KPIs).
Business analytics cannot progress without the right strategy regarding data integration, data catalogs, data management, and governance. Data quality is a key focus—and ongoing challenge—for most organizations surveyed. Our research finds that enabling users to access or view valid, trusted new data within the time frame they need it is a challenge. Organizations acknowledge the value of data catalogs, glossaries, and metadata repositories in improving user productivity and streamlining data preparation and pipeline development. However, without modern technology, most continue to struggle to establish an accessible and accurate knowledge base of information about the data.
Governance is essential for safeguarding sensitive data, adhering to privacy regulations, and improving accountability for how data is used, analyzed, and shared. However, organizations surveyed still express uncertainty about whether they can govern, secure, and trust the data used in business analytics.
This TDWI Best Practices Report offers recommendations for ensuring that the evolution toward modern business analytics is successful.