As businesses continue to grow and evolve, the importance of using data to make informed decisions becomes increasingly important. Using some brilliant insights from Qlik, we’re diving into some of the key BI trends we believe will shape 2023.
Digging into some of the brilliant content from the Qlik on-demand webinar ‘Calibrate for Crisis – Top 10 BI & Data Trends 2023’, we’ve pulled out some of the topics from the accompanying white paper and looked at it through the lens of businesses trying to mature their BI solutions. It’s a great webinar, so definitely check it out after this, as then you’ll be perfectly prepared for the whole thing.
Acceleration of Real-Time Data
It’s clear that supply chain disruptions aren’t going away anytime soon, and the pace of these issues is only going to accelerate. As a result, it’s imperative that we embrace the power of data to help us navigate these challenges. By doing so, we can create more resilient supply chains that can weather disruptions and provide us with the goods and services we need to thrive.
To mitigate these disruptions, we need to be acting on contingency plans and even “pre-acting” – using forecasts and scenarios to pivot before things begin to break down. By doing this, we can pinpoint supply chain bottlenecks and work more effectively with partners: shifting resources to tackle new challenges or opportunities. The infrastructure to handle real-time data has been in place for some time, but its full potential has yet to be explored.
The key in 2023 and beyond will be to focus on providing the right slices of small data at the right time. Not every insight needs to be arrived at through user exploration; many can be delivered straight from the data, in a prescriptive and recommendation-oriented format. And when it comes to making sense of data, storytelling is an incredibly powerful tool. Stories have the ability to reach people emotionally and compel them to act in a way that raw data alone simply cannot.
Of course, when it comes to data storytelling, it’s important to do it right. This means going beyond simply adding charts to infographics or PowerPoints. It means creating stories that are connected with action, that drive people to make real changes based on the insights they’ve gained from the data.
Real-time data can transform operational decisions at scale, but it’s critical to make thousands of decisions thousands of times a day to take full advantage. During times of inflation, retailers must improve efficiencies instead of passing all cost increases to customers. Automation can help, with 95% of decisions based on data applicable for automation.
Humans should still be involved in the design and review of automated decisions. Decision velocity at scale also involves shortening the data-to-action pipeline for humans and improving data literacy. Decision-mining can analyze patterns in data to refine operational decisions over time. By tuning operational decisions to real-time data, businesses can become more efficient, effective, and resilient: able to adapt and seize new opportunities.
That being said, rapid decision-making has to be built on up-to-date data, and the best way to ensure your apps are hooked up to the right source is with tools like PlatformManager.
Optimization For Code – High and Low
Over the past few years, we’ve seen a major shift in the way applications are built. With the emergence of low-code tools, nontechnical workers can now compose their own apps without needing to know how to code.
But not everyone is sold on low-code tools. Some programmers and app developers prefer to work with high-code tools that provide templates and maximum flexibility. This is especially true in fields like data engineering and data science, which are being reinvented for the cloud era. Our product, PlatformManager, is the perfect tool for seamless code review, ensuring every app works the moment they’re launched.
We’ve only touched on a few points here, but it’s clear that 2023 is going to be a big year for BI. With it only being March and already so much has happened, we can’t wait to see what the next nine months hold.
Want to level up your BI game, ready for what 2023 and beyond throws at your business? You need tools you can rely on to make your BI be better. That’s PlatformManager.