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Business Analytics: Deloitte Sees Business Intelligence and Analytics as Transformative for Businesses
Expectations and excitement are high for Business Intelligence and Business Analytics in 2012. James Richardson, Research Director at Gartner, said that “BI is about putting the I in CIO. Information will electrify your organisation.”
Deloitte identified four trends in Business Analytics to expect in 2012 in a whitepaper.
- Open Data – Private sector companies will take a cue from governments and begin making some of their data sets openly accessible. ComputerWeekly quotes Harvey Lewis, research director at Deloitte, as saying that “If you look at the way government is opening up access to public data, that creates opportunities for growth, not just from the way private sector companies use and sell services on the back of that data, but the way it creates interaction with citizens.” Examples include transportation operators providing data feeds of schedules and utilities collecting data via smart meters.
- Increased Emphasis on Privacy and Ethical Use of Data – Lewis said that “With more granular insights comes greater responsibility. It is possible that we will see the emergence of new ethical red lines around the use of data and analytics by organisations, where self-imposed or voluntary codes are introduced.”
- Business Analytics will Drive New Business Models – Deloitte sees Business Analytics as tools that will fundamentally change the way the organizations do business. For example, organizations will increasingly use BA to mine social data and develop much deeper relationships with their customers. Carl Bates, Deloitte partner, adds that “The advice for the CIO is to ensure they have a good view of the business problems and the issues they are trying to solve, and to make sure analytics is applied in an intelligent way to deal with those challenges.”
- Business Analytics will become more Solutions Oriented and Less Technology-Driven – Neil Chandler, Research director at Gartner, said that “Organisations that do not include business users as integral and enthusiastic members of their BA team will double their long-term costs for supporting BA because they will find themselves having to redefine, redesign and refine their BI strategy to reflect the needs of those users.”
