Gone are the days when data analytics was a preserve for companies with a large budget for data analysts. Every company should have reliable systems and controls in place to help them access data analytics services. Accessing these services helps companies keep up with market trends and be updated about competitor activities.
Several factors, including the Internet of Things, machine learning, and Artificial Intelligence (AI), have transformed the data analytics field over the years. Businesses need to keep up with these emerging trends because they have a significant impact on their operations. Here are some emerging trends in data analytics and their implications on business operation.
Augmented Analytics
Augmented analytics utilizes AI and machine learning techniques to alter how analytics content is developed, shared, and consumed. Researchers estimate that by the end of 2020, this type of analytics will be one of the leading drivers of business intelligence. Businesses that haven’t adopted the trend should plan to adopt it if they can.
Continuous Intelligence
Continuous intelligence is the process of integrating real-time analytics within the operations of a business. Business owners can utilize current and past data to forecast responses useful for decision-making during this process.
Continuous intelligence is one of the emerging trends that represent a massive change in the job description of data analytics. It presents a grand opportunity for business intelligence and analytics teams to work smart and help businesses make informed and real-time decisions.
Graph Analytics
Graph analytics are techniques that permit organizations to explore the existing relationships between people, transactions, and organizations. This trend is most likely to grow over the coming years because people and business owners are increasingly asking difficult questions when they encounter complex data.
Persistent Memory Servers
Various researchers have established that persistent memory servers may reduce the complexity and costs that many companies incur when using in-memory computing (IMC)-enabled architectures. The technology is one of the emerging trends with the potential of improving boot times, application performance, security practices, availability, and clustering methods. Business owners should also note that the cost of adopting this technology is relatively lower.
Experts advise that businesses need to quickly convert data into value because their volume is increasing rapidly. New server workloads demand a faster CPU performance and storage that is quick enough to process users’ needs and a huge memory.
Machine Learning and Commercial Artificial Intelligence
Data analytics experts have predicted that businesses will democratize machine learning and AI by 2022. By then, end-user solutions that rely on machine learning and Artificial Intelligence will rely on commercial solutions instead of open-source platforms.
Data Fabric
This technique provides a consistent and single data management framework, which permits more straightforward access to data and it’s sharing in a distributed environment. Although the designs are already in circulation, experts note that most of them will be deployed more swiftly in 2022.
Businesses that adopt the data fabric technique are most likely to experience faster and easier data access.
How Can NetBase Quid Help?
NetBase Quid can help you understand the market and consumer intelligence, which are crucial for your business’s operations. The company can also help you understand emerging trends because your business needs to understand them to remain competitive. Understanding trends, your competitors, and the market is essential for your brand. NetBase Quid can help your company understand all the relevant data analytics trends that can affect your business in one way or another.