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BI Trends To Look Out For In 2022

BI Trends To Look Out For In 2022

BI Trends To Look Out For In 2022

Business intelligence is a fine combination of analytics, data visualization, data tools, data mining, and some of the best practices that help organizations to make data-driven decisions. The business intelligence trends help modern businesses to get a comprehensive view of data when the aim is to drive change, eliminate bottlenecks, and adapt to supply change.

The thing with modern BI solutions is that they offer flexible self-service analysis and governed data while empowering business users with deep insight. A lot more than something specific, business intelligence is a term that covers methods of collecting, storing, and analyzing data from business operations.

The business intelligence tools help in streamlining processes and workflows needed to create a comprehensive business view for making actionable decisions. Over some time, business intelligence has also managed to evolve in the sense that it improves performance.

Importance of Business Intelligence

Business intelligence trends can allow organizations to make better decisions by showing present and past data that comes in the business context. Data analysts can use BI for offering performance and competitor standards so that an organization can smoothly and efficiently.

Business analysts can effectively see market trends for increasing the sales and revenue of a business. When used effectively, the data can also help in compliance with hiring. Some of the ways in which business intelligence helps companies decide smartly are mentioned below.

  • Find ways to increase profit
  • Compare data with the competitors
  • Study customer behaviour
  • Track the performance
  • Foresee success
  • Streamline operations
  • Study market trends
  • Find problems

Working of Business Intelligence

Businesses have multiple goals and questions and to answer them all, it is important to track performance for achieving these goals. Gathering important data, analyzing it, and finding actions to take are important for realizing goals.

When it comes to the technical side of things, data can be collected from business activities. It can be processed and stored in a data warehouse as well. After it gets stored, users can also access it, and start analysis for answering the business questions.

In the past, business intelligence tools were based on traditional models. A top to the down method was followed where business intelligence was extracted by the organizations and most questions were answered with static reports.

In case someone had a question about a report they received, the usual request was to go to the bottom of the queue and start the process all over again. As a result, many frustrating reporting cycles followed and it became difficult to take decisions.

Traditional business intelligence methods are still very common for regular reporting and answering questions. However, modern business intelligence trends are pretty interactive and approachable as well. With augmented data analytics and new BI trends, the process has become very simple.

IT departments are still important for managing data and many users can customize dashboards while creating reports on short notice. By following the BI trends, users can be empowered to use data and get important questions answered.

New Trends to Look Out For in 2022

BI Trends To Look Out For In 2022 - Infographic

1. SaaS and Cloud Application

The pandemic has put many businesses in an emergency situation as they try to make sense of the entire situation. Many organizations struggled with managing on-premise solutions and as a result, an evident solution was to look for business intelligence trends.

To make sure that business intelligence is not compromised, organizations started migrating to cloud-based BI whether it was on a private, public, or SaaS solution. Many companies realigned their overall budgets after the pandemic so that enough space could be made for adopting cloud infrastructure in the move towards remote workforces.

Businesses all over the world think that analytics is a critical capability and companies should not shy away from adopting data solutions. This is why it has become important for organizations to adopt SaaS and cloud applications.

2. Cloud Analytics

Moving data to the cloud has enabled many businesses to get enhanced access to data for collaborating and being productive in the middle of a distributed workforce. To attract actionable and timely insights from data, organizations are using the power of cloud analytics.

Business intelligence is all about driving business efficiencies. On the basis of budget, hardware, security and compliance, and many other factors, business analytics can be deployed on private, public, hybrid, multi, community clouds, and microservices. This leads to making cloud analytics adoption very easy.

Cloud intelligence is all about the deployment of intelligent tools over the cloud infrastructure so that it becomes easy to access virtual networks including the internet. It is about offering firms insightful business intelligence data including KPIs, BI dashboards, and other types of business analytics.

3. Unified Data Management and Analytics

The simple combination of BI stack has changed the scenario of reporting applications into the modern BI and analytics platform. Some new additions are taking place in the data preparation phase with integration, preparation, management, and even insights becoming an important part of BI workflow.

The ML and AI capabilities along with a combination into the BI stack continue redefining self-service BI and analytics in detailed ways. Automation also democratizes and simplifies business intelligence and analytics for everyone.

4. Natural Language Processing

Automation allows action and natural language processing too. As the NLP capabilities increase, more and more vendors attempt to make platforms accessible for users. Many employees use data for making informed decisions.

A common barrier to working with data is that many people do not have a background in statistics and computer science. Many employees do not know to code, and what’s more, is that they do not even have the right training for interpreting data and asking questions that lead to insights.

Augmented analytics decreases any barriers as it guides business users with a no-code capability including some NLP features that allow data queries in natural language. The adoption of AI is expected to pick up in the coming year.

Multiple companies are behind the curve in their capabilities such as augmented data analytics, natural language querying and natural language processing. It is expected that most organizations will be leaning on AI for improving data quality and discovery as they look forward to trusting data and insights delivered from analyzing it.

5. Augmented Analytics

The quick adoption of applications and technologies has managed to create many consumption points for augmented data analytics. Offering a detailed context is emerging as an important functionality for the business intelligence vendors.

For addressing this, there is a wide range of analytics platforms that include AI and ML capabilities all across various points in the business workflow for better insights. The progress of NLQ capabilities in immersive conversations is also driving the adoption of BI amongst many business users.

The new advancements also open up many possibilities in the areas of analytics driven by search results. Decision intelligence has also started gaining great popularity in the business environment. These are some enablers that complement the decisions made by human beings.

An effective enabler is automated insights because it overcomes visualizations with important insights in the form of narratives that give more power to make better decisions. With the implementation of self-learning and deep learning ML models, the BI workflows make artificial intelligence smart and scalable.

6. Unified Business Analytics

An adoption of business applications all across multiple companies has led many platforms to become data-centric as they expand into stable business app integrations. This also creates more opportunities for data integrations.

With native app integrations and advancements in domain-specific data models, it has become easy for many businesses to gain quick insights without worrying about building reports and dashboards. These business models can be trained for addressing fixed business needs.

A deep analysis from datasets is now becoming simple and quick with improved auto modelling and blending capabilities. This has managed to pave the way for real-time and cross-functional analytics that offers detailed insights.

7. Data Storytelling

The use of dashboards and revenue are now under attack. Businesses are now looking way beyond old capabilities to have data and insights presented without any kind of bias and with detailed empathy so that it becomes simple to make better decisions.

Data storytelling is one of the business intelligence trends that also explore many ways of breaking down KPIs and humanizing data interactions. The consumerized delivery experiences are always in the form of purpose-built portals, documents, presentations, etc. The insight delivery mechanisms are now more immersive and interactive with AI augmentation.

8. Monitoring Business Activity

The augmented data analytics platforms are made to keep a close sight on the KPIs. This intelligence is built into the platforms for smartly analyzing data, spotting outliers, flagging critical changes in KPIs, and much more.

Multiple companies are now adopting applications and platforms that can offer data alerts in an application workflow context without any need to log in to the application. This leads to a reduction in response time while allowing businesses to take instant action on alerts.

An extension of traditional BI workflow is that modern platforms are built to trigger many actions for getting detailed insights. As we move forward, the augmentation of AI and ML abilities allows platforms to decide the actions that must be triggered based on insights.

9. Embedded Business Intelligence

Other than software vendors and business consultants who embed BI into their applications, there are many markets that see a rising trend in businesses adopting embedded BI. This is easily possible with analytics that use capabilities to create applications from existing assets.

The rising business intelligence trends continue to improve API stacks while making them robust for shorter development cycles with prebuilt and reusable components that require less coding. This also allows teams to build functions that are based on business needs.

With the ever-rising popularity of analytics, B2B applications are now delivering a natural analytics experience as an important part of the workflow. This cuts down the number of applications used for understanding data by delivering a comprehensive and all in one analytics experience.

10. Moving Towards Mobile

By moving work patterns and business demands, organizations all over the world are looking to equip their workers with productivity-improving software. This also includes SaaS solutions for accessing reports at any time and anywhere.

Although most internet users access the internet through mobile, the market share is not the only reason for implementing mobile BI. Most users can choose to receive KPI based alerts and react promptly to most events as they happen. The mobile BI also has a responsive and light version of the main analytics platform that places the power of analytics in the hands of a user.

The on-demand information availability allows for quick decision making, short workflows, and effective internal communication. Limited screen size and functionality can be restrictive which is why mobile analytics is a good trend in business intelligence. Mobility is an important aspect of many vendors’ offerings in response to the company BI requirement list.

Conclusion

Owing to the never-ending need for analyzing data, making an investment in BI is now an important aspect of businesses all across the world. This is why it is important to know about all the new updates in the market and implement the latest developments.

The business intelligence trends can be fundamental when it comes to embracing new technology or evaluating vendors for analytical needs. As an early technology adopter, Zoho has managed to change the manner in which businesses are taking important data-driven decisions.

If you run a company and also wish to implement business intelligence tools then now is the best time to adopt a Zoho Analytics tool. It will reassure you about your investment and the resources will also be aligned with the present business needs. 

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A Complete Overview of Cybersecurity | Encaptechno

A Complete Overview of Cybersecurity

A Complete Overview of Cybersecurity | Encaptechno

 

Cybersecurity is the process of defending networks and devices from external threats. The method of protecting computers, mobile devices, electronic systems, servers, networks, and data from malicious intrusions is known as cyber security. Businesses hire cybersecurity professionals to protect sensitive information, preserve staff productivity, and boost customer confidence in products and services.

Passwords are no longer adequate to protect the system and its contents. We all want to keep our private and professional data safe. This Cybersecurity is something you should be aware of.

With the Internet of Things (IoT) revolutionizing the way the world works, Cybersecurity must be implemented in all systems vulnerable to threats and attacks to prevent extortion attempts, identity theft, data loss, sensitive information misuse, cyberstalking, and so on. 

Critical Concept of Cybersecurity


The usage of authentication systems is a critical component of Cyber Security. A user name, for example, identifies an account that a user wishes to access, whereas a password serves as proof that the user is who he claims to be.

Cyber security is a broad term founded on three core concepts known as the CIA Triad. The three main components of Cybersecurity are Confidentiality, Integrity, and Availability.

Let’s explore them one by one in detail-

Confidentiality

Confidentiality
The actions of an organization to keep data private or secret are referred to as confidentiality. Access to information must be restricted to prevent data’s unintentional or accidental release. Ensuring that those who don’t have the necessary authorization can’t access assets crucial to your company is essential for protecting confidentiality. Access control mechanisms such as two-factor authentication, passwordless sign-on, and other access restrictions promote confidentiality. 

Integrity


This assures that the data remains accurate, consistent, and reliable. In addition, it means that data in transit should not be changed, altered, deleted, or accessed unauthorized. Access control and encryption can help maintain data integrity, but there are numerous more techniques to safeguard data from threats and manipulation. Regular backups should be performed to deal with unintentional deletion, data loss, and even cyberattacks. 

Availability


All relevant components, such as hardware, software, devices, networks, and security equipment, should be maintained and upgraded to ensure availability. This will assure that the system operates smoothly and that data can be accessed without interruption. 

Even if data is kept secure and its integrity is preserved, it is often meaningless unless it is accessible to those within the business and the clients they serve. This means that systems, networks, and applications must work correctly and appropriately. 

Types of Cybersecurity

 

Cybersecurity is an ever-evolving area that contains an ongoing digital struggle between hackers and other individuals attempting to undermine data integrity. Cybersecurity analysts and professionals ensure that those attempts are unsuccessful and secure the data. 

The numerous types of Cybersecurity are generally separated depending on the various cyber attack types used to interfere with protected and sensitive data. 

Network security


The term
network security refers to various technology, devices, and processes. It entails implementing rules and configurations to protect network and data confidentiality, integrity, and accessibility.

Mobile security


Mobile security, often known as wireless security, is the safeguarding of smartphones, laptops, tablets, and other portable devices and the networks to which they are linked against the hazards and vulnerabilities associated with wireless computing.

Data security


Data security refers to safeguarding and protecting your sensitive information from unauthorized access or usage that could expose, delete, or corrupt it. For example, using encryption to prevent hackers from accessing your data in the event of a breach is an example of data security. It encompasses the many cybersecurity techniques you use to protect your data from misuse, such as encryption, physical and digital access limitations, etc.

Infrastructure security


It’s a security mechanism that safeguards essential infrastructure such as network connections, data centers, servers, and IT centers. The goal is to make these systems less vulnerable to corruption, sabotage, and terrorism. Businesses and organizations that rely on vital infrastructure should be aware of the risks and take steps to secure their operations. Cybercriminals may target your utility infrastructure to attack your business, so assess the risk and establish a contingency plan.

 

Why is Cybersecurity important?

 

Why is Cybersecurity important_


Cybercrime has impacted the world with a
cost of $6 trillion in 2021. These costs will rise to $10.5 trillion by 2025. The desire to keep the data, information, and devices private and secure drives the relevancy of cyber security. People today save enormous amounts of data on laptops and other internet-connected devices. Much of it is confidential, such as financial information and passwords. Companies do not have to be concerned about unauthorized people accessing their network or data by relying on cybersecurity. It assists them in safeguarding both their customers and their personnel.

Cybersecurity is critical because it safeguards all data types against theft and loss. Sensitive data, personally identifiable information (PII), personal information, intellectual property, data, protected health information (PHI), and governmental and industry information systems all come under this category. You’d rather spend a little money on cyber security and save a lot of money on your company’s security than lose a lot of money to industrial spying.

Common Cyber Threats

 

Common Cyber Threats


Despite the measures of cybersecurity professionals to plug security breaches, attackers are continuously looking for new and advanced ways to avoid detection by IT, bypass protection measures, and exploit new vulnerabilities. In
2020, cyber attacks have been ranked as the fifth most important risk, and they have become the new normal in both the public and private sectors. This dangerous industry is anticipated to develop even more in 2022, with IoT cyber attacks alone expected to double by 2025.

Individuals and corporations are vulnerable to cyber attacks, often because they save personal information on their mobile phones and use insecure public networks.

Let’s explore some of the common cyber threats-

Malware

Malware
Malware, often known as malicious code or malicious software, is a computer virus. Malware is a program installed on a computer to jeopardize data confidentiality, integrity, or availability. It is carried out in secrecy and may impact your data, programs, or operating system. Malware has grown into one of the most severe external threats to computer systems. Malware is capable of causing broad damage and disruption, and it necessitates significant effort on the part of most companies.

DDoS (Distributed Denial-of-Service) Attacks


According to Cisco research, the number of distributed
denial-of-service (DDoS) attacks will increase to 15.4 million by 2023, up from 7.9 million in 2018. DDoS attacks overload an online service with numerous locations and traffic sources, rendering it unusable. During a DDoS attack, website response time delays, restricting access. By planting malware, cybercriminals create vast networks of infected computers known as Botnets. The most common cybercrime may not be a DDoS attack. Instead, the attacks are frequently used to divert attention away from fraud and cyber intrusion. 

Attacks on Passwords

Attacks on Passwords
A cyber attacker can gain access to diverse information with a suitable password. Any of the different ways to maliciously authenticate into password-protected accounts is a password attack. These assaults are frequently aided by software that speeds up the cracking or guessing of passwords. The most famous attack tactics are brute force, dictionary assaults, password spraying, and credential stuffing.

SQL Injection


An SQL or Structured Language Query injection is a kind of cyber-attack that enables a hacker to have control over the database and steal data from it. Cybercriminals exploit vulnerabilities in data-driven systems to install malicious code into a database using a malicious SQL query. This equips them with access to the database’s sensitive information.

Social engineering or Phishing


Phishing is a technique of social engineering in which people are tricked into revealing personal or sensitive information. Phishing scams solicit personal information such as credit card numbers or login passwords via text messages or emails that seem to be from a respectable company. The FBI has noticed a spike in pandemic-related Phishing, which they ascribe to more remote work. According to IBM, the average cost of a data breach has risen by
$137,000 because of remote work.

Man-in-the-middle Attacks


An eavesdropping attack in which a cybercriminal intercepts and relays messages between two parties to steal data is a man-in-the-middle. An attacker, for example, can block data passing between a guest’s device and the network on an insecure Wi-Fi network.

Ransomware


Ransomware is a virus that prohibits or restricts people from accessing their computers. Ransomware demands that you pay a ransom using online payment channels to restore your system or data access.
A ransomware attack strikes a business every 11 seconds according to Arcserve, 2020.

Ransomware infiltrates computer networks and uses public-key encryption to encrypt files. This encryption key, unlike other viruses, remains on the cyber criminal’s server. This private key will be demanded as a ransom by cyber thieves. Encryption is being used as a weapon by cybercriminals to hold data hostage.

 

Some Effective And Practical Tips For Cybersecurity

 

Some Effective And Practical Tips For Cybersecurity
Cybercrime is unquestionably one of the world’s fastest-growing crimes, and it continues to impact organizations across all industries. You need to pay greater attention to Cybersecurity if you don’t want your company or firm’s name to find up in the news due to a security breach. As cyber security threats become more regular, it’s critical to understand what you can do to secure your personal information online.

However, staying safe from cyberattacks is difficult. It’s challenging to keep up when thieves constantly seek new ways to disclose security flaws. Nonetheless, there are a variety of measures that you may take to protect against cyber-attacks.

 

  1. Keeping your operating system and programs up to date is vital. Always make sure your devices have the most up-to-date security updates.
  1. Use antivirus software to detect and eradicate threats. Antivirus software prevents malware and other harmful viruses from entering your device and corrupting your data and information. 
  1. Make sure your passwords are strong enough and difficult to guess. A password manager can help you keep all of your accounts’ passwords solid and unique. 
  1. Another technique to help protect your online accounts from being stolen is to use two-factor authentication. For example, you can have a code sent to or produced on your device, such as your phone, that you can use to verify your identity each time you log in. 
  1. Links can easily be misrepresented as something they aren’t, so double-check before clicking on one. By hovering over the link in most browsers, you can see the target URL. 
  1. Never open email attachments from unknown senders since they may contain viruses. In addition, malware is sometimes propagated by clicking on email links from unknown senders or unfamiliar websites.
  1. Always keep an eye on your devices. Your device’s physical security is equally as important as its technical security.
  1. If you leave your laptop, phone, or tablet for an extended period, ensure that it is locked and safe so that no one else may operate it. Likewise, if you save sensitive information on a flash drive or external hard disc, ensure it’s encrypted and secured.
  1. The security of the files you share is only as good as the tools you use to share them. If you want to prevent unauthorized access and keep your files safe, use a secure file sharing solution to encrypt your files while they’re in transit and at rest.
  1. Don’t use public WiFi networks that aren’t secure. These networks are vulnerable to man-in-the-middle attacks. It is best to stay away from public networks or use a VPN when you’re connected to one.
  1. Bluetooth can hack devices, allowing your personal information to be taken. Turn off your Bluetooth if you haven’t used it in a while.
  1. Be cautious about what you post on social media online. By looking at your public profile, criminals and hackers can discover a lot about you. So check your social media account’s privacy settings regularly.

Conclusion 

 

Technology and best cybersecurity practices defend vital systems and sensitive data from an ever-increasing number of constantly changing attacks. You should protect your network and computer with cyber security in the same way you safeguard and protect your home by locking the door when you leave your house.

To implement an effective Cybersecurity strategy, an organization’s people, processes, computers, networks, and technology, whether large or small, should all share equal responsibility. It is conceivable to withstand severe cyber danger and attacks if all components complement each other. 

Encaptechno allows users to hide their Internet Protocol (IP) address and browse the internet with an encrypted connection. This keeps them safe from hackers and helps them avoid cyber threats. Reach out to us today 

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