2016: A Look into the BI and Analytics Crystal Ball

Rado Kotorov's picture
 By | December 02, 2015
in Business Analytics, Business Intelligence, Master Data Management, Self Service
December 02, 2015

As we get ready to kick off the new year, it's time to think about what we've seen and think about where we're going.
Photo attributed to Sean Creamer.

It’s that time of year again. The holidays are right around the corner, and the new year is fast approaching. It’s time to look back on the progress and successes that we’ve seen in 2015 and give some thought to what 2016 has in store.

With advancements across sectors, it’s sure to be another exciting year in the tech world. The next twelve months will undoubtedly bring advancements in the Big Data space as we mature from analysis to operational applications. Cloud too will mature, moving from simple tools to truly professional tools and applications. Aside from those broad advancements, I’d like to share a few other areas where I expect big things in the coming year. Here’s what I see as I gaze into my 2016 crystal ball.    

The Emergence of PDF 2.0

The PDF is an established and ubiquitous file type, and just as Web 2.0 caused a revolution in web usage, PDF 2.0 will cause a revolution in statements. The next generation of the PDF will feature embedded interactive analytics that will allow all consumers to analyze their statements and help them stay financially healthy, while also raising the analytical education level.

In a nutshell, we will see the rise of the Analytical Document Format as a natural evolution of the PDF. I expand on this idea in a recent ITworld article. Take a look to find out more regarding the possibilities of the next gen PDF.   

Peersuasion

The social media space will give birth to “peersuasion” marketing, where retailers will look to entice buyers' friends to help them make purchasing decisions in real-time. Consumers, especially those of a younger generation, are always looking for friends’ opinions before they purchase. For many of them, shopping is a social event, so the next wave of marketing efforts will center on enabling consumers to get that feedback from their peers without physically being with them in the store.

This represents a new level of engagement that makes shopping truly social and leads to even more data capture and analytics. Welcome to the social shopping collaboration. For more on this, check out my recent blog post in Retail TouchPoints.

Master Data Management in Big Data Environments

Master data management (MDM) and big data are independently trending hotter right now, and people are wondering how they fit together. Fortunately, MDM and big data implementations are becoming more pragmatic and business-focused at the same time. Real business goals plus pragmatic approaches to technology plus market attention equals greater adoption of a wide variety of solutions. I predict 2016  will see many organizations implement the value of mastering big data, and simultaneously nail down how they’re going to get the job done right.

Evolution of Self-Service  

In the coming year, self-service analytics will evolve beyond just self-service for analysts. There will be self-service information for the masses delivered not through tools but through purpose-built interfaces and apps. Just as the ATM in banking evolved from a cash dispensing machine to a full transaction/account management terminal, so too will self-service mature and spread to the masses. So let’s welcome the next iterations of self-service analytics. There is a lot of excitement to come in this space!

No matter what 2016 brings, it’s sure to be an eventful year on the tech front. If you have any predictions of your own, we’d love to hear them. Feel free to add to the conversation in the comment section below.