This article is all about what’s ahead for Business Intelligence and Corporate Performance Management for today’s businesses in 2016.
Look, the New Year has come and gone, more quickly than the last it seems – and here we are halfway through Q1. At the end of last year and into the beginning of 2016, there was some buzz in the blogosphere about Business Intelligence (BI) and Corporate Performance Management (CPM) trends that we would see come to fruition this year. So, now in the second half of February, just like how I’ve approached my New Year’s resolutions, I let the dust settle, focused on cleaning up after the holidays, and allowed January to be a soft opening. I justified my approach by assuming that lowering the expectations and focusing on rolling into a full start would help us to avoid shortcomings. This article will zoom in on some main trends and trajectories that will manifest for data management and analysis in 2016.
For both BI and CPM, data is the life source – and always has been, but it just continues to grow in amount and importance. Fortunately, data doesn’t have to be ordered, polished, and analyzed by IT professionals before getting into the hands of business end users – and more importantly, decision-makers. The idea of self-service analytics has continued to build momentum as products have evolved, but it truly has become a norm in the marketplace, even as product and product categories continue to evolve. With the consumer and specifically, the business end user in mind, self-service BI and CPM comes in the shape of contemporary, dynamic interfaces and programs that are easy to use, but rich in regard to output. Financial reporting, planning and data visualizations will be more robust, but we’ll also see more easily accessible and digestible analyses because that’s what we’re seeking as business end users and consumers.
How is “easily accessible and digestible” provided through BI and CPM product offerings? 2016 will undoubtedly be the year where we see dashboards challenge financial reporting as the go-to tool for analytics. Configurable, rich data visualizations, or dashboards, will continue to grow in popularity, as they have been a top priority for executives, as well as flexible and accessible for business end users across an organization. Organizations of any size will start or continue to shift away from analytics that are purely focused on traditional reports with cells, columns, rows, and hard figures and toward data visualizations that highlight strengths, weaknesses, opportunities, and threats, with the functionality to drill down into sub-ledger detail, regardless of the platform or device.
To continue learning more about BI and CPM Trends for 2016, read the rest of this article