2017 went by so quickly and as we welcome 2018, decision makers in companies start to wonder what 2018 holds.
It is always good to be on the lookout for the next best things or the latest trends in order to stay ahead of the competition.
In the upcoming year, we will see technology pushed to its limit as the demand for better, faster data insights continue to rise and as the market continues to get crowded with several BI tools wanting to revolutionize the game.
Here are our 4 predictions on the trends to look out for in 2018.
- The Unstoppable Augmented Analytics Revolution
There is no maxing out on data and analytics because majority, if not arguably all, companies are looking for ways to continuously increase efficiency. It doesn´t matter which industry we are talking about, all organizations now want valuable, strategy-driving recommendations from their software.
2018 will continue to see data and analytics revolutionize. Augmented analytics basically automates insights through machine learning and natural language generation.
Through augmented analytics, businesses will now be able to provide a much simpler, more useful and actionable insight through augmented data collection and preparation and augmented data discovery.
2018 will be all about shortening the time it takes to get business critical insights and augmented analytics will do just that.
- Artificial Intelligence goes Mainstream
The mention of artificial intelligence can generate a huge sigh from certain people for a variety of reasons. AI is old news by now but in 2018, AI can be expected to start becoming mainstream.
There is so much potential left to be discovered in AI when it comes to its usefulness and relevance on the business side – in budgeting and reporting, in customer service, sales or marketing.
2018 will see companies use AI in order for them to connect, understand deeper, and improve their relationships with their customers.
In the finance world, AI will continue to be embedded in platforms to improve its capabilities.
- The Rise of Process Mining
This is still an emerging trend in 2018. The idea in process mining is to gather data like for example a company´s internal decisions which will then be later on used as digital footprints.
Process mining maps these images into flowcharts that can be searched and worked on which allows companies to get an overall view of the steps taken after a decision is made.
Through process mining´s ability to aggreggate data from client´s search terms, emails or calls, a customer journey can be created allowing companies to identify patterns.
This will be a trend that will start to make noise in 2018 as companies through process mining will have the ability to see their customer´s full lifecycle allowing them to analyze and put preventive measures in place.
- The Confident Cloud Choice
If 2014-2017 still had a lot of cloud skeptics, 2018 will see many decision makers more confident in their choice of cloud.
There is no denying that cloud has been a source of doubt and worry for many IT personnel and decision makers alike mostly due to security issues.
2018 will see that significant changes in software architecture will be attempted in order to address cybersecurity risks. Data storage will be provided both on and off-site and customers will be allowed to choose which data they will put in the cloud and which data they can protect in their own servers.
The cloud option in 2018 will prove to be better in terms of speed, business agility, and scalability without exposing the business to unnecessary dangers.
Are you ready for 2018?
Now is a time to start planning what you want to prioritize for 2018. Which software gets its budget and why.
If you want to start by drastically improving your company´s business agility perhaps streamlining budgeting, reporting, forecasting, and consolidation is not a bad way to start as this is the backbone of any business.
BI and CPM solutions like Performance Canvas by DSPanel always keeps itself abreast with the most recent trends and best practices in order to continue to refine its capabilities.
To know more about Performance Canvas BI and CPM features and benefits, visit www.performancecanvas.com or email [email protected] to speak to a finance consultant.
DSPanel offers cutting edge technology platform for business analytics, planning, and visualization. DSPanel designs, builds, and operates with the end users in mind. Performance Canvas was created by DSPanel to answer the unarticulated needs of the market not addressed by previous available solutions. With Performance Canvas, information is transformed into valuable business insights for the business executives to utilize in their decision-making process. DSPanel currently has over 2500 organizations deploying their solutions.
