The significant and positive influence Business Intelligence and data driven analytics have recently had on firms can be seen in the overwhelming increase of adoptions within medium and smaller sized organizations. This new found level of access has proved how quickly technology can permeate the business world and will undoubtedly continue to impact how these infrastructures communicate, collaborate, and cultivate. With this reality comes remarkable new trends that have the ability to catapult organizations into a data-driven and digitally-integrated future. NYX has been at the forefront of this transformation and will continue to serve its clients utilizing the best that technology has to offer.
In previous years, the deployment of BI into a cloud-first world was approached with extensive caution due to the threat it posed to security. In the future, this threat will be severely diminished as IT initiatives have dedicated years to build the necessary support for a successful transition. NYX has helped a host of companies successfully move their data to cloud and helped them leverage resources and optimize costs.
The basic premise behind this BI trend is converting offline processes to a digital format to be efficiently read by electronic devices. The benefits of digitization are vast, but the main advantages include cutting (substantial) costs, obtaining real-time data monitoring and reporting, and exceeding customer satisfaction rates through personalized experiences. NYX can help companies realize this benefit.
Also referred to as Data Discovery, this interactive analysis allows more instant comprehension of major trends or outliers. With our brain’s ability to digest visual information quicker than text and tables, the highly sought-after technique enables enterprise decision-making to become exponentially more efficient.
This extension to the historical-focused data mining technique, is now being used to estimate future data probabilities. By analyzing complex enterprise data, the trend of predictive analytics allows businesses to make sense of current inefficiencies or areas of strengths in order to determine the most beneficial routes for future attention. This will help to understand customers and immeasurably improve business performance.
The hot trend of self service in BI enables end users (without traditional analytical or data-mining backgrounds) to access statistical data, perform customized queries, then draw their own conclusions. By empowering users to generate their own insights, this frees up team efforts to focus on other company objectives.