Business intelligence technology started as a simple data storage and access that can be queried and prompted to do several analysis and reporting functions. Over the years, business intelligence applications have become more popular. This is evidenced by the fact that more companies are implementing BI systems for their business information needs. This development fueled several BI technology trends that can surely impact on the economic and business intelligence market.
Today, more BI vendors and developers are consolidating their products. There is a propensity for software developers, especially the market leaders, to create business intelligence suites and multi-functional BI applications. Stand alone BI models have become a rarity in the market. It was being replaced by comprehensive BI packages that possess more tools and functionalities. This is a significant development and will definitely enhance the power of business intelligence applications.
The next emerging trend of BI technology is the shift that companies made in using business intelligence applications. Several years ago, BI was primarily used to guide strategic planning and general corporate objectives. The data and analytics from the BI systems were systematically integrated into the long term planning process of enterprises. Today however, companies tend to use BI to shoot immediate corporate concerns. This means that BI systems are being used as an important aspect of daily operations and work flow.
The third glaring trend in the use of BI technology is the increasing sophistication and modernization of business intelligence interfaces, display, and reporting. Data are delivered not as a dry document but as an interactive media complete with illustrations and presentations that can make reporting and analysis easier.