Six trends law firms should look for in BI
The field of business intelligence is always changing. But even with technology moving at a fast pace and data users’ demands morphing, some factors of the industry have remained the same. For instance, broader use of predictive analytics remains an aspirational goal for most firms. Suboptimal data quality continues to be problematic. The requirement for information governance is high, but maturity is lower than it needs to be.
It’s important to look ahead - so what’s in store?
1. Data consumers are transforming into information activists.
Rather than just consuming information, users are now engaging in data prep and profiling. By creating visual apps, users are expressing their views and learning about themselves through being actively engaged with the growing volumes of data.
This trend is seen in the rise in data-driven journalism in the mass media, altering how people are using public data to understand how society works, such as the use of infographics in online articles.
2. Governed data discovery becomes essential.
Self-service BI is the new normal. With more data out there, users want to become more self-sufficient in creating their own analyses rather than relying on others — but this means they need to work in a managed data space. As such, governed data discovery is becoming a top priority. Within a framework of governance, users will focus their energy on getting insights from their analyses. They’re able to ask “why?” multiple times using the data, rather than worry whether the data is correct.
3. Big data is less of a big deal.
The BI industry will get past the big data hype as more firms start to apply data analytics to data sources that used to fall outside of the BI space. Data usage is evolving into a richer and more complex landscape from various sources, enabling the use of practical, variant data use cases.
4. Data from external sources gives better context.
Enabling users to see a broad range of factors contributing to their business is becoming more important than ever. With the ability to combine both internal and external data sources, users now have access to more context around their data, which ultimately leads to more insights and better decisions.
5. More data storytelling equals more engagement.
Storytelling personalises a work task and can make it more memorable, impactful, and relevant for those that hear it. People will use interactive storytelling to deliver information in a more compelling way that prompts them to act in the moment, when the insight emerges.
6. A screen in the hand is worth two on the desk.
Mobility is becoming more important than ever for data users. This means that enabling multi-device lensing of BI and analytics will gain importance.
Firms will depend on their data for more insights, so learn how our Qlik solutions can help your firm adapt to the coming changes and help users see the whole story that lives within their data.