“In God we trust, all others must bring data.”
Top 5 Data Analytics Trends for 2018
The sheer amount of data that you get from different sources makes it difficult to separate signal from noise. Analytics can help. Although intimidating on occasions, data analytics is essential to running a successful business. Here is our take on what 2018 will bring to data analytics.
1. Augmented analytics will become more accessible
It is a claim made in a Gartner report, Augmented Analytics is the future of Data and Analytics, published in July, 2017. Augmented analytics automates data insights through machine learning and natural language processing, enabling analysts to find patterns and prepare smart data that can be easily shared and operationalized. Accessible augmented analytics produces citizen data scientists and make an organization more agile.
2. Multi-cloud game plan will break records
Customers are skeptical of legacy software solution lock-ins, and many of them will be seeking a multi-cloud game plan for an optimal mix of support and performance. Gartner estimates that 70% of enterprises will be using multi-cloud strategies in 2019, up from less than 10% today, and 2018 is going to be the year when the transition happens.
“This multi-cloud or hybrid strategy is becoming increasingly important to help reduce risk and provide more choice and flexibility for customers”, says Francois Ajenstat, Chief Product Officer, Tableau.
3. Data governance will be a top priority
Data governance amplifies the business value of analytics without compromising security. In 2018, many organizations will make data governance and data quality the nucleus of their attention.
“Governance is as much about using the wisdom of the crowd to get the right data to the right person as it is locking down the data from the wrong person,” according to Ellie Fields, Sr. Director of Development, Tableau.
4. Predictive and prescriptive analytics tools will continue to grow
More companies will be investing in driving insights and automated decision making than just reporting of data in 2018. They will study data to forecast future probabilities and remain flexible in their approach to attain goals.
Because predictive analytics can forecast future probabilities from existing data sets and prescriptive analytics can suggest changes in your approach, both analytics have become the most talked-about technologies amongst data analysts.
5. AI and ML will be a data scientist’s ultimate assistant
Businesses have already moved from primitive reporting methods to proactive analysis tools equipped with live dashboards and real-time reports and alerts. This trend will intensify in 2018.
With the IoT all the rage, which brings a large amount of data, the need and demand for AI and ML powered real-time data analysis tools is on the rise. AI and ML accelerate data analysis. Unsurprisingly, in its 2018 Strategic Technology Trends report, Gartner named artificial intelligence as the top trend to dominate analytics in 2018.
Are we ready for all this?