BI Software – Exciting Trends to Look for in 2019
Dyntell’s mission is to become a global leader in business intelligence (BI). We are always searching for new solutions to benefit our clients. Dyntell does this by figuring out how we can help our clients grow and succeed in a sustainable way.
Our versatile business software, Dyntell Bi, was originally developed from our ERP system. This means Dyntell Bi has a different foundation from other business intelligence systems. By having a different foundation, Dyntell Bi benefits from easier integration into already existing enterprise processes. This is compared to current market-leading BI systems that do not have this advantage. Additionally, Dyntell Bi’s data modeling is very flexible extremely customizable.
Although Dyntell Bi has that edge of uniqueness, it is still important for us to track industry trends and new features of competing systems. Based on research and our experience, we have compiled a brief analysis on how business intelligence systems will develop in the coming year.
1. Prevalence of BI Will Grow by Leaps and Bounds
You don’t have to be an oracle to see this coming. However, BI will not simply be used by more people, but will become indispensable for an increasing number of organizations. The number of users using multiple different BI solutions in a single organization will increase. This is because more devices providing different tools and services will suit different departments or tasks therefore requiring more solutions. This diversification in BI will surely grow this year. After 2020 it’s expected that systems with more functions will displace smaller suppliers from peripheral positions.
Examples of increased BI usage include displaying marketing channels and behavioral patterns generated from the top 20% of profit-making customers. With the help of the data received, the system has to continuously optimize the running marketing campaigns. However, this kind of data-driven vision, experienced with larger commercial and service companies, has still not become the norm for manufacturing customers. We hope this year is a turning point. In 2019 more and more manufacturing companies will recognize BI’s opportunities and maximize its potential for process controlling and decision-making. Smaller companies will eventually follow suite and join the BI bandwagon.
2. Expanding BI Functions
The development and expansion of BI functions started years ago and its current direction is quite clear. Some functions though, like automated alerts or updates, are still not considered to be an important part of software by many market-leading BIs companies.
Here at Dyntell, we do believe letting our users known of changes as soon as possible with automated alerts and updates as an important direction of development. We’ve integrated a workflow system into our BI, enabling users to build a B2B portal to share needed information with their customers.
Planning and designing capabilities are important features in BI and Dyntell has been sure to have them be a part of our system from the very beginning.
Design is vital as it can be a critical component of “what if” analysis scenarios and help with planning.
Despite BI being an Online Analytical Process (OLAP) approach system and managing transactions are not part of BI’s traditional tasks, we believe that business intelligence will move toward transaction management. For example, more and more customers are asking for system predictions to be returned or written back to the ERP system.
3. Increase in Prediction Significance
Dyntell Bi is unique in its use of a modern ensemble system for analyzing ‘time series’ of its clients’ data. In addition to classical moving and regression algorithms, deep learning algorithms are also involved to make the most accurate predictions. Modern algorithms are expected to appear soon in other BI systems too.
Another consideration to have is the effects of external time series on predictions. For one of our current R & D projects, Dyntell collects external data series into TimeNet’s database, so the system can use the data of correlating time series for business prediction.
4. Artificial Intelligence Takes Control
Artificial intelligence (AI) will make BI self-service in 2019. As a self-service tool, BI is still in a phase of limitations. Right now it is inconvenient and more serious analysis is too complicated for AI. Like other BI developers, Dyntell is working on automatic processing of data sources, speech processing, and providing relevant responses to certain human issues.
Although AI is currently limited in its capabilities with BI, it’s believed to develop further in the coming year.
Currently, when deeper analysis is required, users need step-by-step help from a data-scientist. Soon a simple “what if” question from the user will do and AI will be capable of answering that “what if” question instead of the data-scientist. Managers should begin thinking in a more data-driven way, but in 2019, the use of artificial intelligence to better understand managers’ questions will accelerate.
We believe that the development of business intelligence solutions will continue quickly and in a dynamic way. Be sure to regularly check out industry trends to find the solution that works best for you.
Find out how Dyntell Bi can help your business today.