Introduction-Democratization of Business Intelligence
Democratization simply means accessible to all. The democratization of software tools has been evolutionary that has helped many people to easily adapt to ever-changing technology. The democratization of tools has helped in getting frequent feedback from the end users at various levels that makes the product even more powerful in nature.
The best example of the democratization of technology is internet, laptops, mobile phones etc. At the beginning of internet revolution, only software professionals had access to computers and laptops, however, nowadays almost every individual has access to using laptops, computers, and tablets on daily basis largely due to the democratization of internet.
- Business Intelligence Tools are becoming more popular with the end users because of ease-of-use that has led to the democratization of Business Intelligence (BI).
- Nowadays Businesses are migrating their report-based approach for decision making to faster analysis-oriented approaches that help them to analyze real time and take quick decision.
- Data preparation is the most difficult and time-consuming task facing business users of business intelligence tool and data discovery tools.
- To overcome such challenges, the industry introduced new advanced analytics tool that has more capabilities to analyze data efficiently.
- Currently, we are in the era of big data that has become more popular in a very short time where companies are able to collect, store and analyze data with big volumes that were impossible and unthinkable few years ago. Thanks to big data technology, data can be captured at easily without having to worry about the size.
- Democratizing the Big Data and enlightening the workforce can highly enhance business operations. Big Data technology introduced many UI based tools to analyze the big volume data make business operations manageable and cost-effective with open source technologies.
- Self-Service Business Intelligence led to democratizing analytics for the sales team, marketing team and other teams who are non-technical users however still want to analyze and get the business insights hidden in the data. The great enhancement and affordability of technologies like cloud computing or Software as a Service in recent years have made them more accessible to a numerous number of the consumer. Cloud computing or Software as a Service also helps in reducing the cost of maintaining IT team, hardware maintenance, and infrastructure.
BI has become democratized and available to all end users – instead of just a small handful of financial department staffers already well-versed in analytics. This is an evolution in Business Intelligence industry because everyone has easy access to the data without any special skill requirement. This is the good news for small-and-medium-sized companies and business that want to compete globally against larger organizations with deeper pockets.
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