In 2017 we have seen businesses transforming into data-driven enterprises, data technologies and strategies are required to deliver value. Data analytics and associated technologies have emerged as the main disruptors of the digital age. Below are the data analytics trends going to dominate 2018 –?
- Augmented analytics
The popularity of augmented analytics which uses machine learning and NLP for data automation and presentation of data in a simplified manner will become popular. This augmented data analytics will be used widely to help human intelligence for bias-less opinions and better outcomes. Augmented data analytics helps data scientists and IT professionals, in general, to focus on strategic issues and by doing so make outcome-oriented business decisions, enhance service offerings, accurate pricing and other important aspects of a business.
- AI and Machine Learning is going to be adopted in a wide manner
To make our lives and work processes simpler AI and machine learning will be used in more and more areas. The explosion in big data analytics means real-time approaches to address various business issues including enhancing customer experience. The big data analytics in relation to various forms of artificial intelligence like predictive analysis, machine learning and deep learning will assist the businesses immensely to improve their relationship with customers.
A comparatively new technique called AutoML is also gaining popularity. AutoML is a technology which helps develop machine learning by automating workflows by means of deep-learning and statistical techniques. This technique is being adopted widely in the IT industry to democratize AI tools by permitting the business programmer to develop machine learning models without the knowledge of deep programming. It also curtails the time for data scientists to develop models without any programming. 2018 will see more AutoML packages for commercial usage and its integration with larger machine learning platforms.
- Edge Computing and Cloud will grow at an exponential rate
Edge computing is essentially a distributed technology architecture which enables services provided over computer are moved closer to the source of data or near the boundary of the network. Edge computing architecture helps to solve the problems in connectivity and latency as the data needs to travel less distance. Edge computing is gaining popularity due to an increase in mobile computing devices and sudden increase in the use of IoT enabled devices. Smart devices like drones, wearable devices, and the autonomous vehicle will benefit tremendously as these require real-time response and processing to work smoothly.
- Predictive analytics will be used more liberally to solve difficult problems
Predictive analytics is not new and is being used by many organizations to precisely predict future performance to improve organization’s profit. The organizations are turning towards it more and more to gain a competitive edge and increase their bottom line.
Interactive software is easily available in the market and it has become easier for many more organizations to opt for this technology for fraud detection, reducing market risks and optimizing targeted marketing campaigns which help to improve overall business performance.