Business Intelligence and Analytics in the Era of AI

IDC Perspective - A Call to Rethink Decision Support Software Capabilities

Business Intelligence and Analytics in the Era of AI

This Executive Snapshot by IDC helps enterprises to evaluate a new generation of Business Intelligence and Analytics (BIA) software solutions, focusing on the role of artificial intelligence (AI) and machine learning (ML).

Most traditional BI and Analytics software solutions do not provide support for all the activities of the decision-making process, leaving users without all the required information and reliant on personal experience.

Today, thanks to technological innovations in the field of analytics, there are several opportunities to start benefiting from AI and ML capabilities within a decision-making platform like the BOARD software, which natively embeds AI and ML capabilities to:

  • Automate specific tasks across decision support activities
  • Monitor decision-making processes

In this IDC Perspective, the authors refer to AI as a broad range of advanced analytics methods for machine learning (ML), deep learning, and reinforcement learning. The use of various methods or combinations of these methods depends on specific use case characteristics, such as the type of data, volume of available data, and type of output.

Regardless of the method, AI is used to automate:

  • Tasks (e.g., assessing quality of a data source)
  • Activities (e.g., analyzing data)
  • The whole process of producing actionable insight

The goal of all investments in data, and related data processing software and staff, is not simply information delivery. It is also not just about delivering a more visually appealing dashboard or a report or a self-service data manipulation tool.

As Dan Vesset, Head of IDC’s Analytics and Information Management, and Chandana Gopal, Analyst at IDC, note

With a few exceptions, today's headlines that prominently reference AI, big data, and analytics neglect to mention the ultimate reason for these solutions — decision support, that is, using technology to augment people's ability to make better decisions.

Connecting data assets across different lines of business, encouraging collaboration based on high levels of data literacy, and using the power of AI to enhance the decision-making process will provide significant business benefits to enterprises. 

With this picture in mind, you will be able to carry out a more fruitful evaluation of BI and Analytics software functionalities.

 

Fill in the form to discover how decision-making platforms like BOARD can infuse Artificial Intelligence with Analytics.