Why Data Analytics Is Changing So Quickly
If you've ever used Power BI, written SQL, or used any kind of data visualization software, It's kind of hard to deny that things are changing pretty quickly. We have bots that can rapidly interact with databases, and do things wilder than ever before. But we're not seeing a lot of changes in enterprise products, in fact, most have tacked on "AI bots" that underperform expectations and route you back to the initial product that's been around for ages.
For BI providers, what's happening is they're trying to figure out how to integrate AI with their existing platform - but the problem is their platforms were built for static implementations, and NOT for an AI-backed platform.
A bit of a comparison: remember back when smartphones existed with buttons, and not via touchscreen? It's because they were trying to apply one technology to another, but it was super clunky.
So. What does this look like in terms of the supposed “iPhone of BI,”? You know - a product that just comes together and does everything that we really want it to do?
Let’s start with a couple of elements that would be great in a BI platform:
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Spoken visualizations.
I want to be able to ask for a metric or a set of metrics and for those visualizations to automatically pop up. I want them to be web-based, code-based dashboards. This is something that a lot of BI platforms are already using, like Looker, and Sisense is doing this with their React SDK, but nobody’s really taking this to the max as far as AI is concerned.
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Text-based intelligence and third-degree-plus inference.
A big issue with a lot of AI implementations right now is that they’re only answering the question that you asked, but nothing further. If we’re going to take the time to ask a question, and we have the power of Megatron at our fingertips, we really want to know what it is beyond our basic ask.
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Predictive analytics on demand.
This is an interesting one that I think has a lot of potential. For a long time, data science was unavailable to people except for data scientists who knew the intricacies of how to create exceptional predictive analytics. Now, with the power of AI, this technology really has opened this up to all the "tinkerers" who really just want to ask a basic question and have it answered with a great sense of precision.
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A reasonable price point.
This is the big one, and pay attention. Long story short, the days of paying a thousand a year per user are likely coming to a close. Competitors are on the market and they're coming in HOT, just like with every other SaaS platform on the market right now.
So what does this have to do with us? I’m sure you’re wondering.
With 10+ years in the BI industry, KBI Data can be your guide for all things happening in the data analytics world, particularly during this time of explosive development.
I think you should check out some of our work, and if you like what you see, let’s get in touch and figure out a game plan for how to integrate truly next-level analytics — with AI as a proper base — into your workflows to help you all be as powerful as you can be.
