Power BI: Trends in data analysis for 2020
Year by year, data play an increasingly important role in the management of organisations. Therefore, it is worth taking a closer look at the prevailing trends in the market, which will determine the activities in the field of data analysis in 2020. Will Power BI still lead the way? You will read about it in our article.
Having data is not enough - it is crucial to store it properly and process it skilfully. Here are five trends in data analysis that are worth following in the coming months.
1. Extended analysis - also with Power BI!
Augmented analytics is one of the leading trends in data analysis. In the coming months, mechanisms based on automated algorithms that process data and capture recurring patterns will gain in importance. Such use of machine learning and artificial intelligence will allow analysing large amounts of data without the risk of missing critical information. It will also enable you to make better business decisions in seconds compared to manual techniques. You can undoubtedly count on Power BI to help you in this field. This system will streamline data analysis in many areas of your company's operations.
2. Extended data management
Extended augmented data management will also gain in importance. This trend will improve the companies' ability to analyse incoming data dynamically - with a higher level of automation and close to real-time. According to Gartner analysts' estimates, in 2020, as much as 40% of all tasks related to data analysis will be performed automatically. And that with the assumed five-fold increase in the amount of data!
3. Processing in memory
Another trend that will play an important role in data analysis in 2020 is In-Memory Computing. Reduced costs of memory itself cause that business data processing in memory is becoming more and more common. Storing gigantic amounts of data in memory is a guarantee of free access to them. As a result, more efficient information management, faster response to changes and easier business decisions thanks to better visibility of data sets. With Power BI, a cloud solution, you get instant access to your data, no matter where and when. This is important for companies whose offices are dispersed all over the world.
4. Connecting clouds for data security
Efficient data management is not enough. One of the hottest trends in business intelligence in recent years is also data security. For this reason, the popularity of well-known clouds, to which more and more organisations transfer their data, will not weaken in 2020. What is new, however, is to combine clouds into more extensive systems to minimise the risk of threats. Clouds as BI platforms will overlap, which will also improve data analysis at any time and place.
5. Graphical Analysis - Explore Power BI capabilities.
The increasingly popular analysis of charts allows us to examine the relationships between the entities we are interested in, such as human resources, transactions or entire organisations. Consequently, it enables us to find answers to more complex questions concerning data, often from different sources. Their analysis is impractical, and sometimes even impossible, using traditional tools. The chart warehouses can be freely explored to search for data with complex connections. As Gartner predicts, the use of graphical and graphical database processing will grow at a rate of 100% per year.
One thing is for sure - data analysis will become even more critical soon. Companies that want to make the right business decisions should already implement systems for their review, such as Power BI.