A recent Economist Intelligence Unit study showed that while 70 percent of senior executives felt analytics would be either "very" or "extremely important" to their business' competitive advantage, just 2 percent felt their analytics investments had already had a "broad, positive impact".
The increasing amount of data available, and the speed at which insights need to be discovered and implemented, often means there's no time to sift through to find trends, or produce reports. Traditional approaches to Business Intelligence (BI) therefore often fail to unlock the power of data because they're often just too complicated, too rigid, and too slow.
However, at the same time, harnessing data to produce the business intelligence needed for organisations to gain a competitive edge is more important than ever. Enter modern BI. So how is it different?
How have things moved on? First and foremost, according to the Top Business Intelligence Trends 2017 report, visualisation has become one of the most important trends.
This shift to end user preferences in the interpretation of data has seen dashboards become increasingly more popular as they help people to quickly digest the most relevant information. After all, if intelligence results are hard to access and reports are difficult to interpret, users won't make effective use of the system and its value will be reduced.