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4 data analytics trends that will dominate 2018

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4 data analytics trends that will dominate 2018

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 –?

  1. 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.

  1. 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.

  1. 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.

  1. 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.

Written by Srikanth

Passionate Tech Blogger on Emerging Technologies, which brings revolutionary changes to the People life.., Interested to explore latest Gadgets, Saas Programs

The assumption is that ‘Internet of Things' is going to make everyday life better and easier by connecting regular products and services with people. If the businesses can handle it intelligently enough then a company's product can enable them to be engaged with the consumer by staying relevant. In a world which is getting more and more competitive, maintaining one's brand loyalty is not so easy anymore, because consumers have plenty of choices. This is why businesses are looking for creative and novel ways to restore the lost relationship with their consumer and influence buying decision in a timely manner. IoT’s effect on Strong and Weak brands Needless to say that, consumers will remain loyal to brands that meet their requirements repeatedly, regardless of the advent of new information technologies like IoT. However, in the era of IoT, weak brands will be punished and perished faster and good ones will stand forte. But the gap will be widening between branded and brand agnostic products. Digitally native vertical brand or products like Bonobos, Warby Parker or Casper are born and on the internet and became a brand by the followers on social media. Without the internet and social media, these would not have been called ‘brands'. These products or brands will be the strongest players when the IoT influenced commerce will fully unleash. On the other hand, products like replenishment goods could become less relevant due to increased automation in this connected world. In a world connected through internet consumption pattern will be more predictable in nature and the way customers purchase certain products or services will change forever. Internet of Things will drive a major portion of purchase decision from active to passive. This transition is more likely to affect frequently ordered products such as household supplies and replenishment goods. Smart Products will change the way people purchase One of the companies who are aware of this transition and quick to capitalize on this is Amazon. Amazon, the world largest online retailer has introduced Amazon Dash service which enables consumers to order consumables by the tap of a button. It is a simple Wi-Fi connected device which works as a bridge between the consumer and the supplier. This technology equips the appliance itself to place order automatically based on consumer’s usage of the machine. The full integration of a service like this is more passive and is an example of what IoT can do for commerce when it is fully developed and integrated into consumers’ lives. A consumer or a family’s subscription for an item from a retailer will be based on the previous purchase history. It is the Smart decision that businesses take will make the difference The “Internet of Things” has started to echo in the growing number of connected products and ushering the new opportunities they can represent. However, this does not make it easier to understand the actual phenomenon or its implications. The internet is simply a mechanism for transmitting data or information. What is actually changing or making the whole environment smart is the change in the nature of “things”. The expanded capacities of smart connected products and the data they gather that are dawning a new era of competition. Businesses should look beyond the technologies and rather look into the competitive transformation that is taking place. But connected products will not automatically go to rebuild the brand loyalty that is diminishing. The challenge for the businesses is to use the smart product to reconnect with consumers in the moments that matter – it is influencing customers from the moment they decide to buy a product and till they consume it if they want to attract consumer attention and increase brand value.

Brand Loyalty To Be Tested In The Internet Of Things Era

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