Introduction to Data and Analytics
Last year brought us different changes, and it changed many things in the Data and Analytics trends. The Covid pandemic made the traditional analytics techniques that use the historical data no longer relevant. Interested to know about the Data and Analytics trends?
Gartner has listed ten trends. These trends can help the institutions to deal with the disruptive change, uncertainties, and opportunities in this confusing time. Data and analytics should invest in the following trends to reap the benefits for the next 2 years.
Okay without further ado, let’s get into the article.
Gartner’s three main themes:
All the listed trends can be covered under the following three themes –
- Accelerating Change
- Operationalizing through effective XOps
- Distributed Everything
Top 10 Trends: Data and Analytics
Let’s take look at the one by one –
Smarter, faster, and efficient Artificial Intelligence
As per the Gartner report, it is said that by the end of 2024, nearly 75% of the world’s organizations will move to auto-piloting and operating Artificial Intelligence.
Even in this pandemic situation Artificial Intelligence and Machine learning techniques are bringing more vital insights to organizations. It is said to bring a 5 times increase in the data streaming and analytics infrastructure.
It is expected that nearly 33% of the world’s large organizations will have developed or practiced decision intelligence and Decision modeling analyst’s solutions by 2023. Though decision intelligence is now in the development stage, it is and will be one of the major trends in the upcoming 5 years.
Compose able data and analytics
This trend helps to move the multiple data and analytics from different AI solutions and build swift and flexible applications for the Data and Analytics leaders. They are user-friendly, that the D & A leaders can make the correlations between the insights and actions.
There is no question in this aspect all the data (both private and public) are moving towards a cloud-based and compose-able form for rendering more agile ways to build analytics applications.
Data Fabric is used by organizations that have a high level of diversity, distribution channels, and complex data assets due to vast digitalization. Data Fabric monitors the data pipelines and reduces the time for integration by 30%, maintenance by 70%, and deployment by 30%.
Gartner has coined a new term called ‘X analytics’, where the X refers to the data variable of the different types of the data content (both structured and unstructured). It can be in any format like text, video, audio, etc… X analytics combined with other advancements like AI and graph analytics played an important role in 2020.
It is said that by 2022, nearly 90% of the data should be moved to the cloud to manage large-scale public data. So the Cloud is still in the game for the next 3 years. Data and analytics leaders and players in the market should explore the possibility of expanding the Cloud capabilities and focus on cost optimization.
Blockchain technologies get rid of the two problems in Data and Analytics. The first one is the provision of full lineage to assets and transactions. And the next one is reliability and transparency among the complex networks. There is no question BlockChain will play an important role in finance-based analytics.
Data marketing or exchanging
There is another prediction that by 2022, nearly 35% of large organizations will be either the seller or buyer of the data. And in 2020 nearly 25% of the data exchanges are made online. And it said this trend will prevail for more than a decade.
Decline of Dashboard
The dashboards are expected to decline due to the introduction of more dynamic data stories which are more automated and consumerized. The more dynamic data stories like NLP augmented analytics will stream the most relevant insights to users based on their content and roles.
Gartner predicted that by 2025, graph technologies will be used by mostly 80% of the business. It is said the D&A leaders will rely on the graphs to find the quick answers to the complex business organizations. And in 2021, 10% of these graphs will be used for rapid decision-making.
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