The future of BI: What you need to know?
Business Intelligence
Did you know that Business Intelligence, actually, has been around for a very long time? Previously, it was an IT affair, where you as an end user might have had less visibility, and data-savvy users were certainly not in control of development. There was quite a distance between the developer and the end user, with all the associated risks. Think of the classic complaints: “IT builds something we didn’t ask for,” or, “the business doesn’t understand what they are asking from us.”
Rise of self-service BI
With the rise of self-service BI, the gap between both parties has significantly narrowed. To truly enable both parties to communicate, it is often still necessary to have someone with ‘business consultant’ skills in between, but the process undeniably becomes faster and smoother.
We see this pattern continuing to develop. Microsoft often refers to and encourages this under the term “democratizing analytics.” Translated one-to-one, this means the democratization of analytics, or making it democratic. Increasing input, involvement, participation, and the ability to take control; these are the elements we believe play a role in this.
Easy user interface and automation
This is achieved by simplifying the tooling through an easy user interface and the automation of functions and features. For example, the Salesforce connector we recently implemented for Alert Heijn to unlock data. In the past, this would have been an API connection (requiring an IT professional); nowadays, you can simply use a standard built-in connector.
ChatGTP and Co-pilot
Tools like ChatGPT and Co-pilot also bring BI closer to the end user. Did you know that you can use Co-pilot within Power BI to add descriptions to your DAX measures? Unfortunately, the license required for Co-pilot in Power BI is quite expensive (starting at ~€5,000 per month excl. VAT).
How does this impact us?
For us, ‘democratizing analytics’ also has an impact. We can make more customers happy, faster, with increasingly advanced technology. We also enable our customers to participate in the development phase if they wish or handle simpler maintenance themselves. Additionally, we involve customers in the ‘back end’ of the solutions we build. How do the queries work, what exactly is in that DAX formula, what are the technical (im)possibilities.
We also sometimes develop solutions together with the customer in hackathon-like sessions. These can last a few hours, but Steven recently conducted a three-day hackathon with a Private Equity firm. In three days, we set up the foundations of the Valuation dashboards. Together with key stakeholders, we unlocked data, developed queries, and performed immediate validations. Short lines of communication, quick decision-making, and a very short turnaround time for the amount of work accomplished.
Analytics is becoming more accessible
So yes, you may not have been very aware of it, but analytics is becoming more accessible, and this absolutely increases the possibilities. Extracting more value from data, working data-driven, and using data to gain competitive advantages; the possibilities in these areas continue to grow.
Would you like to know more or have an exploratory and inspiring conversation? Feel free to contact us!
Steven Annegarn
King Expert Officer @ Data Kingdom
Please contact us!
