Right now, enterprises are all about data. The companies that can leverage data effectively are having a winning edge. Data is a strategic asset. Data drives which products to choose, which business models to pursue, and which customer experiences to create. With ever increasing complex business requirements with a mushroom of tools, frameworks and platforms, the universe of business intelligence is no longer restricted to ERP and CRM insights coming out of simple data warehouse.
Well, the answer which is not very palatable is – IT DEPENDS… Every problem is Unique.
Before we talk about the future of data intelligence, let us agree on goals and objectives of Business Intelligence
The data journey is becoming more complex as
Structured Data is data in a row and column format that would reside inside a database or data management application like Oracle, SQL Server, MYSQL, SAP HANA etc. These databases are capturing enterprise data via their ERP, CRM, HRMS and host of other applications. For web-based portals, this data can also be captured via user interactions.
Unstructured Data, now a days, comprise the majority of the data. This data generally cannot be stored in usual database like application. This data comes in different formats including audio, video, files, text, posts, PDFs. Getting this data, storing it and hence mining it to provide any meaningful insights is a huge and mammoth task.
Semi-structured Data, true to its description, is a mix of structured and unstructured data. The perfect example of semi structured data includes JSON files, XML files, HTML files etc.
In order to truly define insights out of the data, todays business intelligence demands deriving insights not just by data from transactional applications providing data in rows and columns but also mining the data which are collected outside conventional applications.
Data Warehouse – it is consolidated view of data with OLAP functionality designed on STAR or SNOWFLAKE schema.
The on-premise data warehouse space is gradual moving towards extinction. Most new customer data warehouses being built today are being built in the cloud (commonly called as Snowflake, AWS Redshift, Azure SQL data warehouse or Google BigQuery). Putting data repository in the cloud is simply better. It is faster, more scalable, with zero install time, you can go live in minutes and start producing insights immediately than having to wait for 6 months to provision and install data warehouses.