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Generative BI

What is generative BI?

Generative Business Intelligence (Generative BI or Gen BI) is an emerging approach to automate the end-to-end activities of business intelligence and analytics using generative AI models in innovative ways. Generative BI changes the way businesses utilize their data from reactive analysis to a more proactive and predictive approach. This enables organizations to unlock new possibilities for value creation and building competitive advantage.

Traditional BI vs Gen BI

Traditional BI involves conventional tools and methods that employ a more manual and organized approach to data collection, processing, and analysis. It has worked well for historical analysis. But with more and more interference of human bias, there is a tendency to overlook valuable insights or not discovering them at the right time.

Contrastingly, gen BI leverages latest technologies such as AI and ML, and adapts a flexible approach to bring the best out of data analysis. It eliminates the scope for human bias and works effectively for both historical analysis and predictive analytics.

Gen Al For Data Analytics

Gen AI is truly transforming the realm of data analytics by democratizing the access of powerful analytics capabilities to users of all types. The key features of gen AI which play a pivotal role in this transformation are:

• Natural Language Processing: Helps in understanding and processing queries of non-technical users in human languages. It also helps in providing useful, actionable insights through easily consumable ways.
• Large language models:Help with interpretation of complex datasets, generating sophisticated queries, and automation of data cleansing/preparation activities.
• Data handling:
• Data handling: Helps in understanding and processing queries of non-technical users in human languages. It also helps in providing useful, actionable insights through easily consumable ways.

How to use gen AI for business intelligence

Gen AI has opened up a wide range of possibilities that was difficult to imagine before. Here are a few notable use cases of generative AI in business intelligence.

Data Preparation:

As much as 51% of data scientists' time is spent cleaning and organizing data. Generative AI can directly handle key data preparation activities like tagging, classification, and enrichment. It can also support other activities like error detection and correction, data transformation, etc.,

Data analysis:

Generative AI enables auto-generation of reports and actionable insights in response to natural language queries, thereby enabling the participation of non-technical users in data analysis.

Predictive analytics:

Generative AI is pre-trained on a huge amount of datasets and well-positioned to make highly accurate predictions of key performance indicators, for proactive decision-making.

Personalization:

Generative AI can neatly segment business data by relevant categories in real quick-time, thereby enabling businesses to get started with personalized strategies and targeted activities without much delay.

Who should use generative BI?

Generative BI makes sophisticated analytics accessible without specialized skills. Any business user can gain maximum value out of data and even leverage advanced capabilities like predictive analytics through natural language conversations. Some key groups of users who can benefit from generative BI are:

Business Analysts:

Through automation of data preparation and analysis, the heavy lifting for a business analyst is done. He or she can now solely focus on extracting insights through NLG and NLQ-powered interfaces.

Executives & Managers:

To make strategic decisions and manage business operations efficiently, business leaders can effortlessly access necessary insights in real-time

Line-of-business Professionals:

Be it a salesperson or a HR professional, they can access relevant insights and easily do ad hoc analysis at will.

Data Scientists:

By aiding in generating insights without much manual intervention, Generative BI enables data scientists to focus more on data modeling, complex data analysis and much more.

How will generative BI benefit users?

The most significant advantage of gen BI is its user-friendliness, no-code user-friendly implementation. It integrates seamlessly into existing workflows, fostering a data-driven culture throughout the organization. Generative BI provides personalized insights, ensuring that every decision-maker receives relevant and timely information.

How gen BI benefits making business decisions:

Generative BI offers the following advantages or benefits for decision-makers:

• Deeper insights in quick time.
• Improved data consistency through error reduction.
• Enhanced accuracy for predictions.
• High-degree of data segmentation.
• Presenting actionable insights through user-friendly formats.

What is the future of BI with gen AI?

The future of BI definitely appears brighter with generative AI at the helm. Here are a few key trends that are expected to shape up better due to generative AI in the coming days:

• Improved democratization of BI & Analytics through expansion of self-service access
• Deeper insights through enhanced analysis of multi-dimensional data
• Innovation in data visualization and data storytelling
• Enhanced user-interaction and collaboration
• Highly efficient data management at any scale

As a modern, self-service BI & Analytics platform, Zoho Analytics works continuously to upgrade its AI-augmented capabilities. Read more.

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