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What is Networked Analytics - the Next Wave of Business Intelligence?

Posted by Ho Nguyen

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The world of technologies recently is buzzing with a new terminology: “networked analytics”, which was marketed as the technology behind cloud-based Business Intelligence solution from Birst (recently acquired by Infor). Such breakthrough is expected to help businesses to manipulate data much better than what we are currently doing.

Read more: The outlook of Analytics and Business Intelligence vendors in 2018

What is Networked Analytics - the Next Wave of Business Intelligence?

Out-of-hand data volumes are a serious problem. Conflicting, duplicated, different interpretations of the data can lead to poor business decisions. Before, organisations relied on their centralised IT department to analyse data but with the booming of mobile devices, virtualisation and cloud apps, it is no longer feasible to follow the old path.

In this day and age, data needs to be woven in a proactive network analytic system that allows a more in-depth understanding of insights as well as provides only one single source of truth.

Read more: How Grab uses data analytics to refine new products

Networked analytics was born to solve the problem of virtualising the entire Business Intelligence ecosystem and transforming the organisation from application developments to user-centric data mashups and content.

What is networked analytics?

Have you ever wondered how Netflix works? They do not just randomly suggest shows to you and wish you might like them, but rather, they learn from your previous viewing data and make suggestions accordingly. That is analytics.

Analytics for enterprises collects data from staff’s devices, wireless metric, mobile applications and WAN data, analyses them all and generates the results that you are looking for. In short, networked analytics seeks out patterns and trends from series of intertwined networks, platforms of data and statistics.

Read more: Data analytics for manufacturing - the Tesla's case study

Networked analytics connects BI instances to create a shared analytical fabric that enables businesses to spread their BI platforms to different regions, departments and customers. The ability to utilise networked analytics to enable smarter and data-driven decisions is critical for every business.

Legacy Business Intelligence and analytics platforms force businesses to choose between agility and governance. With networked analytics, such trade-off is avoided as a network of virtual BI instances can be created with the purpose of achieving speedy deployment and accessing deep, robust insights with ease.

What can we do with networked analytics?

As an organisation expands over time, their data volume subsequently increases as well. Being able to utilise analytical tools to make sense of the data in amidst of the chaos can help businesses to significantly reduce any information silo and generate much more accurate decisions.

Read more: Rise of the CDO (Chief Data Officer) and the growing importance of data

Networked analytics eliminates these silos once and for all via its shared analytic fabric that is accessible and extendable by everyone within your organisation. Such capability allows organisations to scale instantly as the requirements change.

Moreover, networked analytics enables transparent governance as it can consolidate internal and external data sources without duplicating them, thus reduces admin resources and costs for IT BI.

Decentralised groups are given the freedom to tailor the analytical fabric with local data to suit their needs without impacting the global governed data or any other groups.

Networked analytics can also be valuable to software vendors as a great addition to any application by utilising its network of virtual instances. Vendors can reach new customers and provides agility and speedy services without recreating physical metadata, data, and BI content.

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Topics: Technology trends, Business Intelligence, Analytics

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