Analytics and The Future
Most insights companies are making these days are done by Analytics. Companies and large enterprises are collecting data but also allowing the data for other companies to share this data, while protecting your personal information. (Read Privacy Checkup to keep your data more secure) As trends for data analytics advance, more companies will be using these measures to make sound decisions and grow their business.
Augmented Analytics is the use of machine learning and natural language processing to enhance data analytics, data sharing and business intelligence. There is software that can integrate augmented analytics tools to handle large data sets.
Companies can enter in raw data source information to these platforms that will then scrub, parse and return key data for analysis. Augmented analytics is becoming easier for anyone to build and deploy these models, without even having any programing skills. This is changing the landscape on both the traditional analytic side but also these machine learning platforms. This is making it easier to prepare data and get the insights from the data. Now management wants to get these insights and results quicker, which use to take days to complete. The speed to market for data is very important. With dashboards and metrics that should be delivered on their mobile devices or accessible at any time of day or night.
Next up is using, relationship analytics which highlights the growing use of graphs, locations and social analytical techniques. This is where the relationships are made with people to people, people to things, or refer to something. There is a lot of information that people want to refer to. When you start combining multiple data sets with other references, you have more information to compare it to. You can compare this data on a map now and bring social analytics in a way that has never done before. This allows you to connect data between individuals in a given market or region.
When you put these pieces together, you can provide a complete picture of a problem or issue you are trying to solve. Relationship analytics is the connecting piece where you can show the connection between the data and people, places, or something. This wave of data will provide deep insights for companies for growth and expansion into other markets.
The future for analytics is going to keep growing with even more new emerging technology will keep coming on its way. These will be the growing force behind the digital economy. Most management will continue look to invest in analyzing data and how to make use of data to help make effective and sound decisions. Keep a close eye on these emerging trends and evolve your practice and projects accordingly to support your growth to include data analytics.