BUSINESS INTELLIGENCE TRENDS & PREDICTIONS Top trends in productivity analytics right now, and in the future.

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1 BUSINESS INTELLIGENCE TRENDS & PREDICTIONS Top trends in productivity analytics right now, and in the future

2 1 TREND 1 Varied data from multiple sources will be combined and easily analyzed BI (BUSINESS INTELLIGENCE) SOFTWARE WILL ALLOCATE STRUCTURED AND UNSTRUCTURED DATA FROM MANY DIFFERENT SOURCES INTO ONE ANALYTICS PLATFORM. BI software eliminates the need to jump between different sources of information. Businesses use data from a variety of different sources, both structured and unstructured. This information, while useful, is time-consuming to analyze especially when the data is spread out across multiple platforms. BI software eliminates the need to jump between different sources of information by allocating all of the data into one program. This program will be able to display the information in easy to use visuals which will enable the user to identify problems or solutions within their business in a matter of seconds. This will save businesses valuable time and forever eliminate the need to stare at spreadsheets.

3 TREND 2 Easily accessible data will make for quicker decision making 2 IT AND EXECUTIVE DEPARTMENTS WILL MERGE AS A RESULT OF BI SOFTWARE, WHICH WILL PROVIDE NEW INSIGHTS AND QUICKER, MORE EFFECTIVE ACTIONS. There is often a gap between the IT department and the rest of a business. IT specialists are able to navigate through the complex data that fuels the company, and relay that information to executives who have to interpret the given information and then take action. However, the future will see a melding of these two departments through the use of new BI programs. These programs will allow executives to see the health of their business in a matter of seconds. The BI program of the future will take data from a range of sources and transform that data into functional models. These models and graphs will break down the information into more user-friendly formats that will enable executives to understand the health of their company, workforce and projects instantly. This will save the company valuable time and allow executives to make quick decisions that amount to effective actions. Models and graphs will break down the information into more user-friendly formats.

4 TREND 3 Flexible platforms will cater to each unique workflow so that the program works with you not against you 3 STRUGGLING WITH SOFTWARE WILL BECOME A THING OF THE PAST AS NEW BI PLATFORMS FOCUS ON CASE-SPECIFIC WORKFLOWS. In the future, BI programs will not force the user to adapt their projects and workflows to the software. Instead, the software will adapt to the project. Gone are the days of attempting to make a project bend to the will of a program, or working around the program in order to succeed on a project. Future BI platforms will be flexible and will adapt to each project's and businesses specific needs and the needs of each unique user/role. The software will become an asset rather than a detriment to the functionality and efficiency of the project. This will enable a business to increase its productivity by decreasing time spent customizing the software. BI platforms will be flexible and will adapt to each project's specific needs and the needs of each unique user/role.

5 4 60% of companies experience project failure TREND 4 Smarter machines will make predictions about the success of a project 71% of projects are late, over budget or fail to deliver to their specifications MODERN BI UTILIZES AI TO LEARN AND ADAPT TO BUSINESS NEEDS The ability of machines to learn and adapt to the needs of a business will become a major part of BI technology in the future. As AI systems become more popular, businesses will need software that enables the program to learn and adapt to the business unique needs. As the machine learns, the problem then becomes what the machine does with all of this data. BI software that is able to learn and also display the learned data in easy to understand models will be the programs that succeed. 21% of projects are cancelled or never deployed But displaying the data will not be the only important part of a program. The most innovative programs will also be able to predict the success of a project. Predictive analytics will be the new software that reduces risk and saves time and money. Next gen BI software will be able to predict when a project is going to go over-budget before it even happens and help plan scenarios in advance. Predictive Analytics can help organizations with scenario planning, workforce utilization modeling, smarter hiring and scheduling and forecasting.

6 TREND 5 BI software will take advantage of the IoT and the cloud to discover areas of opportunity 5 SOFTWARE THAT CAN ANALYZE, VISUALIZE, AND PREDICT TRENDS FROM THE IOT WILL OFFER THE MOST VALUE TO A COMPANY. As the power of cloud computing expands, businesses will come to rely on cloud-based BI and analytics technology in order to help their businesses succeed. Within the cloud, the abilities of a program are greatly expanded. Furthermore, the BI program that is tapped into the cloud will be able to display models from the information it gathers within the cloud, providing insights for businesses. In addition to cloud accessibility, there is another resource that BI programs will be able to utilize. The IoT (Internet of Things) is growing every minute of every day, and within it are mass amounts of structured and unstructured data just waiting to be tapped into. This data contains useful information which could help a company plan out it s future business strategies. A program capable of accessing and visualizing the IoT will provide valuable insights to a company, enabling them to see opportunities as soon as they arise and allowing a greater return on their BI investment. Additionally, predictive analytics will play a role in understanding the IoT. A software that is able to not only access and display the data from the IoT, but then also predict potential trends or opportunities from the data, will have an advantage over the programs that cannot.

7 TREND 6 Role differentiation will allow for greater individual and group productivity 6 A PLATFORM WITH INDIVIDUALIZED ROLES WILL INCREASE PRODUCTIVITY WHILE ENSURING SECURITY. BI software will be able to differentiate between roles in the company and provide secure data access based on each each role. By using a BI software with intuitive, role based functions built-in, each individual will have a personalized view of the relevant data needed to do their job. Each branch of the company will save time and have stronger security overall. Emerald Insight conducted an investigation with the purpose of finding connections between the role differentiation strategies used in firms and their resulting performances. The results from the investigation show that differentiation strategies have a positive impact on performance but also will allow for a better sustainment of performance in the future of the company or firm.

8 TREND 7 Meta data will provide a personalized and customizable experience for users 7 METADATA WILL MAKE RUNNING YOUR BUSINESS EASIER, WHILE DRAMATICALLY INCREASING YOUR DATA ORGANIZATION. Metadata is data that provides information about other data. Modern BI software will use metadata to create a personalized and customizable experience for users. Modern BI software will utilize smart tagging and filtering by making use of this metadata, helping increase the quick sorting/filtering of large sets of data. How fast can you begin to look at figures when you have too much data? Modern BI software will pull together all of your data, from internal systems, external systems, the cloud, and the IoT and provide a personalized layer of insight by applying the use of metadata. Modern BI software will use metadata to create a personalized and customizable experience.

9 8 TREND 8 Data modeling will become automated and visually appealing VISUAL DESIGN WILL EFFECTIVELY PRESENT INFORMATION IN A CLEAN AND CONCISE MANNER BI technology will reduce the people-power needed to make data approachable. A current issue in BI technology is how data is modeled and viewed by companies. Data modeling is a complex subject which generally involves three basic styles, Conceptual Data Models, Logical Data Models (LDMs), and Physical Data Models (PDMs). Conceptual models show high-level static business structures and concepts. LDMs show entity types, relationships between entities, and data attributes, while PDMs show the internal schema database design. Data modeling is a physical representation of a company s data structures and is an expression of a company s business requirements. BI technology will reduce the people-power needed to make data approachable, because the program will have data modeling built into it, so time does not need to be wasted constructing these models. Additionally, the built-in data modeling will be visually appealing so that data analyzing becomes less difficult on all fronts. The program visualizes the data on its own, and it presents that data in a beautiful, easy to understand format, so that the challenges of data modeling become a thing of the past.

10 TREND 9 Better understanding of insights will prevent failed actions 9 SOFTWARE ALLOWS DATA TO BE FULLY UNDERSTOOD TO ENCOURAGE POSSIBLE BUSINESS ACTIONS. The data retrieved from a company s database provide insights, which lead to actions that cause a company to fail or succeed. New BI technology will make predictions which will lead to immediate success based on past actions and insights. A program will be able to suggest insights from learned data, while ignoring insights that have caused failure in the past. The program will promote insights that have led to successful actions in the past. This will aid the team in their performance by allowing them to ignore insights that have resulted in failed actions while prioritizing insights that have led to successful actions. New BI technology will make predictions which will lead to immediate success based on past actions and insights.

11 % of firms that invest in big data, report desired results TREND 10 Enhance performance by linking data and action through various insights 80.7% THE LATEST BI PROGRAM WILL REVOLUTIONIZE THE WAY COMPANIES APPROACH DATA IN EACH DEPARTMENT. of executives have seen success Predictive analytic technology will enable companies to see completely new insights in every department. The program will enable teams across the business to use various insights in order to achieve desired results by transforming data into action. Departments that previously did not rely on digital insights will now come to rely on the insights a BI program offers. Companies are now using the insight approach to easily portray data across all departments of the business. Department specific insights will increase productivity and action success throughout the organization. 44.3% Companies that cannot adapt to using BI software do so at their own risk. They will inevitably fall behind companies that utilize the latest software in all departments and develop insights. of Fortune 1000 Executives found new insights through Big Data

12 11 About Allocable Allocable is software with a winning combination of Time Tracking, Productivity Analytics, Business Performance Management, Resource Planning, and Predictive Analytics, providing a multi-dimensional view of workforce and project productivity to help organizations optimize and forecast performance with more certainty. Imagine having one place to track your time & expenses, handle resource allocation, view project and workforce analytics with beautiful BI dashboards built for the different roles in your business with the power to predict what is going to happen with your projects and your whole business. Visit our website to see what our customers are saying about their experience with Allocable.

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