• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Articles
  • News
  • Events
  • Advertize
  • Jobs
  • Courses
  • Contact
  • (0)
  • LoginRegister
    • Facebook
    • LinkedIn
    • RSS
      Articles
      News
      Events
      Job Posts
    • Twitter
Datafloq

Datafloq

Data and Technology Insights

  • Categories
    • Big Data
    • Blockchain
    • Cloud
    • Internet Of Things
    • Metaverse
    • Robotics
    • Cybersecurity
    • Startups
    • Strategy
    • Technical
  • Big Data
  • Blockchain
  • Cloud
  • Metaverse
  • Internet Of Things
  • Robotics
  • Cybersecurity
  • Startups
  • Strategy
  • Technical

Here’s How Big Data and AI Changed Business Intelligence Forever

Pratip Biswas / 8 min read.
March 20, 2020
Datafloq AI Score
×

Datafloq AI Score: 52.67

Datafloq enables anyone to contribute articles, but we value high-quality content. This means that we do not accept SEO link building content, spammy articles, clickbait, articles written by bots and especially not misinformation. Therefore, we have developed an AI, built using multiple built open-source and proprietary tools to instantly define whether an article is written by a human or a bot and determine the level of bias, objectivity, whether it is fact-based or not, sentiment and overall quality.

Articles published on Datafloq need to have a minimum AI score of 60% and we provide this graph to give more detailed information on how we rate this article. Please note that this is a work in progress and if you have any suggestions, feel free to contact us.

floq.to/KtOpP

Once conducting business and making profitable business decisions was an easy task. However, with age, the scenarios have changed and the stakes are high today. Which means that making the right business decisions are not only crucial for success but also a lot harder than before.

In this complex scenario, the only thing that seems to help businesses is Business Intelligence. It is a combined set of software and services that help business organizations to analyze and process the huge amount of data collected from various sources. Once the data is processed, the business organizations can analyze it and gain insight. This detailed insight becomes the ultimate ticket to business success.

Over the years BI has also changed and bears the effect of various technological trends. Perhaps the most crucial of these effects are the ones made by AI and Big Data. So what are these effects really? Let’s see how AI and Big Data has changed Business Intelligence.

AI Has Changed BI: But For Better Or For Worse?

AI has become one of the key drivers that are driving everyday business decisions made by the top guns in the industry. The sophisticated algorithms of modern-day AI are helping the businessmen worldwide gain better insight into their business data and recognize the pattern, that ultimately helps them to make better business decisions.

Source: Photo by Hitesh Choudhary on Unsplash

AI has changed the decision-making process from a reactive process to a proactive one. Once we used to analyze business data on an annual basis to decide what needs to change and what doesn’t.

With AI, there’s no need to do it annually. A well trained AI can alert us of any business emergency beforehand, and we can easily act before the crisis even appears. The application of AI in Business Intelligence has given us the power to be in control of the situation, rather than being steered by the situation.

Let’s look at a few pros and cons of AI in Business Intelligence before we move onto the matter of Big Data.

AI In BI: The Pros

Artificial intelligence comes with plenty of benefits when it comes to aiding Business Intelligence systems, such as:

Better Handling Of Data Coming From Different Sources

AI has become an exceptionally useful BI tool because of how easy it is to handle data from different sources. For a big business, data streams generated from a lot of different sources, and it is hard to keep track of them, let alone understand them. But with AI tools it is easy to manage all the data from different sources, process it and generate detailed insight.

Easy Management Of Overwhelming Amount Of Data

Once again, AI can be used to handle large amounts of data easily and flawlessly. For a multinational business, there is going to be an overwhelming amount of data that will be generated from numerous sources. And handling this huge amount of data is going to be tough even for a team of ten data analyst experts. Hence why AI tools are being used to sort and process the huge amount of data generated every day for big enterprises.

Gaining Real-Time Insight

As we have already discussed above, the use of AI has changed our decision-making process from a reactive to a proactive one. And that’s because of the real-time insight it generates using the data. While the business world grows at a high speed, it is hard to go through the process of making a strategic decision. With AI-enabled Business Intelligence tools, it has become exponentially easier to real-time business insight and forecast for faster decision making.

Filling Up The Data Analyst Shortage

According to the McKinsey report on Big Data, there is a serious shortage of professional data analysts. This serious shortage of professionals who have the skills to take advantage of the data generated from various channels can have dire effects on the business. But due to AI implementation, that shortage has not affected the business world as much. With the right AI-based software, businesses are able to make the right decisions on time without any issues.

But is everything about AI application positive? Probably not. Let’s look at the cons of AI application in Business Intelligence.

AI In BI: The Cons

Even though it might seem extremely beneficial, AI can come with some downsides.

It Is Costly

There are no mincing words when it comes to the budget. AI-enabled tools are indeed costly and it is hard for a small business to afford such BI tools. Not only during the initial installation, but it is also a costly enough solution to maintain and upgrade as well. On top of all this, in the case of malfunction, the reparation charge can drive the entire cost through the roof. And this is why it might not be an ideal solution for small businesses.

Loss Of Human Touch

While it will be easy and efficient to have the AI process the entire data, it still lacks the human touch of experience. Even though Artificial Intelligence is created to imitate the human thinking process, it is still nowhere close to completely understanding the human mind and how it works.

While human beings are able to grow through experiences and thinking, the computer-generated mind only falls into a loop and might end up making the same mistake again and again.

Vulnerable To Attacks And Manipulations

Last but not least, AI is software at the end of the day, which makes it as vulnerable as any other computer software. Cyber criminals are coming up with new ways of hacking and manipulating software used in business administration every day. This makes it even more vulnerable to entrust the entire data handling to the AI-based systems.

While the effect of AI is undeniable when it comes to Business Intelligence, there is another technological trend that has a wide effect on BI, and that is Big Data.


Interested in what the future will bring? Download our 2023 Technology Trends eBook for free.

Consent

Big Data And Business Intelligence: Do They Go Together?

First, let us clear out what Big Data is.

Big data is a term that refers to large, unstructured data that is extremely complex and can not be processed using traditional ways. This data is collected from various sources, such as customer database, social networking platforms, social surveys, medical records, bank records and many other.

Due to the extreme complexity, businesses are now using Big Data technologies that help them to analyze, extract and process useful information from the huge data sets.

Source: Photo by Franki Chamaki on Unsplash

When it comes to Business Intelligence, Big Data technologies have a huge effect on it. The software is helping the businesses to process large data sets. This ultimately leads to a complete understanding of the trends in the market, helping businesses to make business decisions accordingly.

Let’s look at the advantages and disadvantages of Big Data Technology to determine whether it is truly the best thing for Business Intelligence or not.

Big Data Technologies For Business Intelligence: Pros

Big data technologies have some serious benefits when applied for Business Intelligence., such as-

Affordability

Tools such as Hadoop, cloud-based analytics systems are affordable and cost-saving solutions for businesses to process huge amounts of data. Not to mention, a survey conducted by the Syncsort has shown that companies prefer to invest in Big Data because it helps them to reduce expenses. The affordability added to the cost-reducing option makes Big Data technologies even more beneficial in the Business Intelligence sector.

Time-Saving

Analytics tools such as Hadoop identify and process the new sources of data fast and easily, helping businesses to make decisions fast and without any hassle. The fast process makes for a better landscape for the businesses to grow and achieve their goals fast.

Easier To Develop New Product

By analyzing the big unstructured data, Big Data technology helps businesses to gain real-time insight, which ultimately helps them to develop and update new products easily. The insights gained from the data helps to understand the target market and the requirements, ensuring successful marketing and development of new products.

Understand And Control The Market Position

Analyzing customer details such as purchasing behavior, service engagement, businesses can understand the market conditions and their place in the market. And having these details helps them to not only make better business decisions but also control their position in the market.

Just like AI, Big Data also comes with both pros and cons. Since we have already looked at the pros, it is time to look at the cons this time.

Big Data For Business Intelligence: The Cons

Just like everything else in the world, Big Data application in Business Intelligence also comes with some disadvantages.

Lack Of Human Talent

The first disadvantage of Big Data technology is the lack of talent, a.k.a the data scientists and data experts. They are among the most sought after professionals when it comes to using Big Data technology for Business Intelligence. However, it is very hard to find skilled professionals who can work in the process. The lack of human talent to build a data lake is one of the biggest disadvantages of Big Data application in Business Intelligence.

Issues With Data Quality

More often than not, the data collected from various sources are not always collected as a ready-to-go format. They need to be checked for accuracy, relevancy and then formatted in a proper way before they can be analyzed. Not only does this process delay the entire analysis process, but it also puts in question the quality of the data sets that are being collected.

Cyber Security Risks

When dealing with such a huge amount of data, it goes without saying that there are bound to be some cyber security risks. When a company is handling so much data, some of which might be sensitive, it makes them an attractive target for cyber criminals. Security issues happen to be one of the biggest disadvantages of Big Data application in Business Intelligence.

Compliance Issues With Law And Order

Last but not least, comes the issue of legal compliance. Most often the data collected from various sources can be too sensitive and might have some restrictions about to what extent they can be used. Complying with these legal restrictions are absolutely necessary, however, they might not always help the business to flourish.

Some Last Thoughts

The effects of AI and Big Data technologies in Business Intelligence are something that can be discussed expansively. However, the gist stays the same, the application of these two technologies has both positive and negative effects on the business sector. The end responsibility remains upon us, the human experts to use our knowledge, experience, and lateral thinking to resolve the negative issues and enhance the positive ones. Let me know what you think about the application of AI and Big data tech in Business Intelligence.

Categories: Artificial Intelligence, Big Data
Tags: AI, Artificial Intelligence, BI, Big Data, Business intelligence

About Pratip Biswas

Pratip Biswas is the Founder and CEO of Unified Infotech, a New York-based web design company that has been featured in Deloitte Fast 500 | Fastest growing tech companies in 2018. His company is working with Enterprises, SMB's and Start-ups to improve their efficiency through Digital Adoption and help them discover new possibilities through constant innovations. Pratip also writes regularly on Blockchain technology and has been published in publications like "Yourstory", "Dzone" etc.

Primary Sidebar

E-mail Newsletter

Sign up to receive email updates daily and to hear what's going on with us!

Publish
AN Article
Submit
a press release
List
AN Event
Create
A Job Post

Related Articles

The Advantages of IT Staff Augmentation Over Traditional Hiring

May 4, 2023 By Mukesh Ram

The State of Digital Asset Management in 2023

May 3, 2023 By pimcoremkt

Test Data Management – Implementation Challenges and Tools Available

May 1, 2023 By yash.mehta262

Related Jobs

  • Software Engineer | South Yorkshire, GB - February 07, 2023
  • Software Engineer with C# .net Investment House | London, GB - February 07, 2023
  • Senior Java Developer | London, GB - February 07, 2023
  • Software Engineer – Growing Digital Media Company | London, GB - February 07, 2023
  • LBG Returners – Senior Data Analyst | Chester Moor, GB - February 07, 2023
More Jobs

Tags

AI Amazon analysis analytics application Artificial Intelligence BI Big Data business China Cloud Companies company crypto customers Data design development digital engineer engineering environment experience future Google+ government Group health information learning machine learning mobile news public research security services share skills social social media software solutions strategy technology

Related Events

  • 6th Middle East Banking AI & Analytics Summit 2023 | Riyadh, Saudi Arabia - May 10, 2023
  • Data Science Salon NYC: AI & Machine Learning in Finance & Technology | The Theater Center - December 7, 2022
  • Big Data LDN 2023 | Olympia London - September 20, 2023
More events

Related Online Courses

  • Oracle Cloud Data Management Foundations Workshop
  • Data Science at Scale
  • Statistics with Python
More courses

Footer


Datafloq is the one-stop source for big data, blockchain and artificial intelligence. We offer information, insights and opportunities to drive innovation with emerging technologies.

  • Facebook
  • LinkedIn
  • RSS
  • Twitter

Recent

  • 5 Reasons Why Modern Data Integration Gives You a Competitive Advantage
  • 5 Most Common Database Structures for Small Businesses
  • 6 Ways to Reduce IT Costs Through Observability
  • How is Big Data Analytics Used in Business? These 5 Use Cases Share Valuable Insights
  • How Realistic Are Self-Driving Cars?

Search

Tags

AI Amazon analysis analytics application Artificial Intelligence BI Big Data business China Cloud Companies company crypto customers Data design development digital engineer engineering environment experience future Google+ government Group health information learning machine learning mobile news public research security services share skills social social media software solutions strategy technology

Copyright © 2023 Datafloq
HTML Sitemap| Privacy| Terms| Cookies

  • Facebook
  • Twitter
  • LinkedIn
  • WhatsApp

In order to optimize the website and to continuously improve Datafloq, we use cookies. For more information click here.

settings

Dear visitor,
Thank you for visiting Datafloq. If you find our content interesting, please subscribe to our weekly newsletter:

Did you know that you can publish job posts for free on Datafloq? You can start immediately and find the best candidates for free! Click here to get started.

Not Now Subscribe

Thanks for visiting Datafloq
If you enjoyed our content on emerging technologies, why not subscribe to our weekly newsletter to receive the latest news straight into your mailbox?

Subscribe

No thanks

Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.

Marketing cookies

This website uses Google Analytics to collect anonymous information such as the number of visitors to the site, and the most popular pages.

Keeping this cookie enabled helps us to improve our website.

Please enable Strictly Necessary Cookies first so that we can save your preferences!