Discuss the evolution of Business Intelligence?

Question

Could someone discuss the evolution of Business Intelligence?

Answer 1

In the year 1958, a computer scientist named Hans Peter Luhn published an article in the IBM Journal of Research and Development titled “A Business Intelligence System”. He stated that with the technology we could simplify the process of analyzing very large amounts of data to harness the insights.

• Later through the years, BI advanced into new forms, still following those principles of making the whole process simpler and thus companies started applying these techniques and hence started saving numerous working hours.
• Self-service analytics is topping the list of BI trend predictions every year, as a business is harnessing everything from these services that helped them rely less on IT for their day-day activities.
• 2017, proved to be a noteworthy year with huge advancements in BI, that integrated new technology with the existing BI processes and incorporated multiple data sources, and then used data visualization tools to display the gained insights to give a unified view.
• Then came the boom of data analytics, which got included in the routine of most organizations. Businesses around the world then strived to make the most of these tools to harness more efficiency, progress, and higher ROI.
• According to an industry report, the global business intelligence and analytics software market is expected to grow from USD 17.90 billion in 2015 to USD 26.78 billion by 2020 at a CAGR of 8.4%. in the coming days, nearly every industry would be adopting newer BI platforms and tools to fine-tune their business operations.

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