Does My Business Needs Both Traditional BI & Augmented Analytics? AND, Is it Possible to Have Both?
Every business is unique and it is that unique character that drives its decisions. When it comes to analytics, and the democratization of data throughout the enterprise, the choices a business makes will be based on its unique needs. Gartner has predicted that, ‘60% of organizations will compose components from three or more analytics solutions to build business applications infused with analytics that connect insights to actions.’ The options an enterprise chooses to satisfy its analytics needs must be suitable for its IT team, its data scientists and its business users, as well as executives, middle managers and others.
‘When an enterprise chooses a solution that integrates both traditional and modern BI tools with augmented analytics and advanced tools that are easy enough for all users, it can achieve its goals without sacrificing user satisfaction or user adoption.’
As analytics has evolved, the traditional concepts of BI tools have given way to augmented analytics, designed to be used by business users. Each of these approaches has its benefits and, for many, the idea that the business must choose between the two is antithetical to its business acumen and its understanding of what various users and roles need.
So…why choose? If your business can leverage traditional business intelligence tools AND advanced augmented analytics, it can provide the features and tools its users need without being forced to choose and without forcing its team to use a solution that is not ideal for their role or their needs.
In this article, we look at the benefits of combining a business intelligence and augmented analytics approach and how your business can have both in one solution.
Traditional and Modern BI Tools and Benefits
Team members working on day-to-day projects and activities need access to easy-to-use, intuitive tools that combine those ‘workhorse’ features and allow for swift, accurate action and decisions. With an integrated, mobile approach to BI tools, business users can leverage personalized dashboards, multidimensional key performance indicators, and KPI tools, report software, Crosstab & Tabular reports, GeoMaps and deep dive analytics and enjoy Social BI and collaboration. The benefits of this type of solution include:
- Personalized Dashboard
- Multidimensional Key Performance Indicators (KPIs)
- Deep-Dive Analytics
- Social BI tools for data sharing
- Graphical Analysis and Cross-Tab Analytics for Intuitive reporting
- What-If Analysis to test pricing, budget and cost information
- GeoMap support with interactive maps
- Out-of-the-Box Mobile BI tools for access from anywhere
- Personalized alerts
- Real time and cached data management
- R Integration for all with no programming experience required
- Intuitive, informative reporting
- Publishing and delivery agent
Advanced Augmented Analytics Advantages
Augmented analytics that is designed with sophisticated features for use by team members, IT, data scientists and others, provides many advanced features and enables improved data literacy and data democratization across the enterprise. With products and modules that include self-serve data preparation and ETL for business users, predictive analytics with auto-suggestions and recommendations to help users choose the right predictive modeling techniques, and smart data visualization with recommendations for the type of visualization best suited for a particular type of data, the users can make choices confidently and gain insight into issues without the programming or data science knowledge needed in decades past. Embedded BI with integration APIs allows users to leverage single sign-on within familiar software and perform analytics from within that solution. Additional features and tools include:
- Sentiment Analysis
- Key Influencer Analysis
- Clickless Analytics with Natural Language Processing (NLP) and easy ‘Google-type’ searches and queries
- Auto Insights and toolsets that leverage machine learning
- Anomaly Monitoring and Alerts
‘As analytics has evolved, the traditional concepts of BI tools have given way to augmented analytics, designed to be used by business users. Each of these approaches has its benefits.’
When an enterprise chooses a solution that integrates both traditional and modern BI tools with augmented analytics and advanced tools that are easy enough for all users, it can achieve its goals without sacrificing user satisfaction or user adoption.
Find out how Augmented Analytics and Traditional BI Tools can combine to help your business plan for success.