Business Analytics tools are those processes which help organizations to curate and store data for easy accessibility and analysis. It gives them the opportunity to change the way in which they strategize the work that is to be done in an orderly manner, thereby increasing efficiency and productivity in the long run.
With the advancement in Artificial Intelligence and Machine Learning, there is a significant shift from the traditional to the modern business intelligence tools within the organizations on the international front. This is because of the advancement of the business solutions in the modern tools that help in saving time and energy and also offer the best service in the market. The modern business analytics tools are more strategic and architecture-centric in nature which help in increasing the efficiency of a company/organization.
Traditional – Modern
Traditional Business tools were complex and required more manpower to handle and manage the data warehouses. The modern business tools are clear and concise, can be understood by all, and require less manpower to handle them. This is the primary reason why many organizations have changed their methodology and shifted towards modern and service-centric business tools to increase the ways in which they can be productive as well as attract investors in the market. The modern tools are designed to perform heavy-duty processing of data in the company’s servers within a short span of time which increases the efficiency graph of the organization.
Tactic – Strategic
The tactic way of using the older versions of the business tools was another drawback as it was designed it away where only a specific issue was handled. The older version of data storage and cloud integration has undergone a major change with the help of the latest data storage tools like data hubs and data lakes. The strategic business tools help in organizational efficiency by giving a holistic view of the way in which an organization operates with the data. For example, Pfizer uses the latest BI tool to coordinate with various departments and come up with accurate diagnosis in a quick manner. Here, the main advantage to the organizations is that they spend less time on data analysis and reports and more time on innovating new programs and products.
Tool-centric to Architecture-centric
The traditional business analytics were tool-centric in nature. It means that they were mostly focused on using the tool’s functions as a way to address the problems at hand. The tool-centric approach was limited in nature and was majorly dependent on semantics as the users of the same business tools had different approaches in handling the way they understood them. The modern business tools are architecture-centric in nature. It means that they are designed in such a way that they are able to handle any kind of issue and deal with it in the right way. This is the major advantage of the architecture-centric business tools as they can tackle any kind and amount of data in an easier manner.
The high efficiency and productivity levels of the newer version of the business tools are the major reason why most of the present-day organizations have shifted towards the rightly titled “newer” and ”better” versions of the business analytics tools. The shift from the tactic to strategic way of handling data has sure come a long way in helping organizations to make a mark in the global arena. The understanding, dependence, and easy-to-use qualities of the new versions have definitely paved a way for a brighter future for the organizations as well as the owners of these business tools.