Three Business Intelligence Trends for 2019
Business intelligence (BI) for the manufacturing industry has evolved greatly over the years. Various issues like data reliability, ethics and data for the common good are reflected in that evolution, and will likely play a major part as advances in BI unfold over the next year or so. Here are three of the projected top BI trends for 2019.
AI Will Become More Trustworthy
As companies implement artificial intelligence (AI) to help with decision making, an underlying question arises: How can business leaders determine the decisions AI makes are always trustworthy? The question takes on added importance as we consider the number of executives who will depend on AI to help with key decisions, even though there's no real way to determine if the algorithms they employ can be fully trusted. The skepticism business leaders have shown toward automated decision making is why they want data scientists to provide transparency through an audit trail or other documentation. Indeed, to be truly effective, AI must be able to defend its conclusions and answer follow-up questions where applicable.
Business Leaders Will Be More Ethically Vigilant
Data privacy has become a hot topic in recent years. Companies have opened dialogue about the role ethics should play in the privacy issue. An increasing number of companies depend on data to influence their decision making. Professions like accounting, medicine and law are already bound by codes of ethics. Now businesses have begun to discuss how those same principles can pertain to data analytics. Chief data officers (CDOs), in fact, are among those spearheading the move toward the creation of internal guidelines designed to shape a company's data practices. A 2017 survey taken by research firm Gartner noted that the number of CDO's influenced by ethical considerations jumped by ten percent between 2016 and 2017. As organizations become more conscious of data ethics, it will play an increasing role in our lives, both personally and professionally.
Private and Public Sectors unite for "Data for Good" Movement
As data becomes more relevant in our lives, organizations, both private and public, have begun discussing how data can exert a positive impact on society. This has given rise to the "data for good" movement. Gartner reports in fact that the movement has attracted social media mentions that have increased 68 percent in the past year. More and more organizations are becoming socially aware, which has resulted in the proliferation of data commonwealths -- groups and platforms that collaborate across organizational lines to achieve a common goal. The cloud is where commonwealths flourish, depending on data-driven partnerships between technology companies and research institutions. The "data for good" movement reflects a benevolence, which, when mixed with data literacy, technology and a collaborative platform, can help solve many of our most difficult problems.
VISIBILITY's BI solution offers competitive intelligence for better decision making. Learn more about VISIBILITY's business intelligence solution here.
