Frankly speaking the future of data analytics is written at the moment and will continue the same way. However, here is what we can be prepared for.
The international survey of KPMG has stated the next situation with the organizations and businesses: all the benefits of data analytics are still not employed in full. The main obstacles are data quality issues and a small number of capable resources. The nearest years of developments in data analytics will form the future of analytics with many new professions in addition to the current.
No doubt the obsolete attitudes will change for augmented analytics, plus the sector will only grow. This way you may understand that data analytics can’t come aside your business for better growing and financial success.
Why data analytics is the future of everything?
The certain fact will be the continuous data analytics evolving for the foreseeable future. As you can understand, new technology solutions will appear and appear, so the early bird will catch the warm.
For the moment the usage of Business Intelligence (BI) and Analytics outweighs strategy as the main option while the planning and even forecasting. To keep your business competitive you should certainly use new resources and observe the better tendencies as your competitors.
From the other side the business analytics tools will also evolve at a rapid pace. So you should also track this direction. Data analytics and information services are predicted to have the fastest growth rate at 16% to 18%. The future of big data analytics should come together with your company’s future plans.
New trends we will see will surely change the job types, and some of them can finish in total disappearance from the market. Another Oxford University study stated “about 47% of total US employment is at risk”. Plus we can expect to get a new shift of accountant work to be computerized in 20 years. The study predicts it with a 94% chance.
Pay attention to:
- The tendency of data specialists’ shortages that will wait for you. The matter is that qualified data analysts and data scientists are in a high need, plus the situation will grow accordingly in the short term. We recommend doing it now and plan the actions to face the reality. You may follow the way of orders from professional companies, or use your own program to prepare the candidates among the staff and train them. Anyway, you should do it as soon as possible.
- Welcome the interconnectivity because it is the key to advancement. It will be highly critical for the business success in the sea of new internal tools for data analysis and BI. All of them use the accelerated need to access external data stores, networks, and IoT devices. No matter which direction you will follow, by your own forces or via hired company your future data analytics machine will be created using them.
- The creative new services via machine learning to provide value in unique ways. The modern options using machine learning and artificial intelligence (AI) develop together with Business Intelligence. Soon the number of automated works will be endless. The investigations predict a race of the companies willing to use its power for the profits and advantages growths. Among the industries, machine learning can offer customer service roles and facilitate the workflow.
We recommend you save time and optimize the management reporting by help of the seasoned Power BI professionals in the Cobit Solutions company. They offer business specially developed Dashboards to organize their work and implement business analytics. It will give you the advantage to stay competitive in the coming years.
The process starts from the business data sources and critical metrics discussion to create the system that provides a full image of business performance. The clients can order dashboards for specific industry and business areas. It will be critical to create a tailored reporting tool to see the results each time you access the program.
Power BI platform provides not only worldwide access due to the cloud storage, but can be accessed from any device anytime. This way you may plan well your strategic investments, see the results of selling, producing and providing services among the company’s divisions, branches and business lines. You get the clear visualization of processes which helps to manage and maintain the results.
If you will need a deeper understanding of the Power BI analytics solutions implementation or would like to master the development processes – start the learning of this topic with Cobit Solutions, as one of the experienced data analytics and BI professionals services provider.
Summary for the future of analytics
The augmented analytics is the future of data and analytics. The continuous data analytics evolving for the foreseeable future will make impossible things possible. Maybe the nearest future will be an autonomous decision-making process. So better late than never implement the new technology to stay competitive on the market and manage your successful development and workflow. Welcome the interconnectivity as the key to advancement and machine learning to provide value in unique ways.