Unlocking Business Intelligence: Insights from Swapnil Srivastava on BI Modernization in the AI Era

In a recent interview with AIM Research, Swapnil Srivastava, the global head of Evalueserve’s analytics practice, discussed the intricacies of Business Intelligence (BI) modernization in the AI era. With over a decade of experience implementing analytics solutions across diverse industries, Swapnil provided valuable insights into the evolution of BI technology and its current trends.

Swapnil highlighted the transformative journey of BI from basic reporting in Excel spreadsheets to the emergence of self-service BI tools like Tableau and Microsoft Power BI. He emphasized the importance of minimizing time-to-value and insights, which can only be achieved through user-friendly, automated platforms.

Discussing the characteristics of successful BI dashboards, Swapnil stressed the need to rationalize KPIs and metrics to ensure actionable insights. He introduced the concept of BI transformation, emphasizing modernization, optimization, and governance as essential pillars of BI success.

Swapnil discussed how integrating AI technologies like generative AI into the backend of BI tools has enabled natural language interactions and real-time insights. He highlighted the convergence of data engineering and BI expertise, reflecting a broader trend in the industry.

Swapnil shared his system for quantifying the ROI of BI solutions, the PROFIT Framework. The PROFIT Framework categorizes value generation into six key areas: positioning, risk management, operational excellence, financial performance, innovation, and trust building. Swapnil also advocated for A/B testing as a method for accurately measuring the impact of BI initiatives.

Looking ahead, Swapnil envisioned a future where Gen AI and emerging technologies revolutionize data interactions, enabling users to converse with data directly. He emphasized the importance of interdisciplinary collaboration to ensure responsible AI usage and accuracy in BI applications.

Swapnil’s insights in his interview with AIM Research shed light on the evolving landscape of BI modernization and the critical role of AI in driving actionable insights and business value in today’s digital age.

Read the full interview here.