It’s apparent that there’s an increased focus on the value of data and the need to become a data-driven organization. Budgets for data technology are increasing in companies across industries every year, resulting in major global developments and innovation. In order to stay relevant in 2019 and beyond, we've identified 9 Data & Analytics Trends that leading organizations cannot ignore. The trends are categorized below by Given Trends, Trends on the Rise and Slow Shift Trends, and there is an interdependence between these 3 categories. The Given Trends support the success of the Trends on the Rise, which help to achieve the Slow Shift Trends. This interdependence between the trends is depicted in the illustration below.
1. A strong Data Governance strategy to be the core for analytics success and to ensure all processes run on the right data.
2. Augmented Intelligence to expand insights to users by leveraging Machine Learning, Virtual Assistants and Natural Language Processing to transform how analytics are developed, consumed and shared.
3. Servware: Analytics services will converge with software in the form of customizable assets containing business domain content and analytics expertise. A great example of Servware in action is the Eagle Pharma CRM® solution.
4. Data Culture Matters. Data is the new language, and companies must cultivate a multilingual data-driven culture in order to create a data literate workforce.
TRENDS ON THE RISE:
5. Big Data is just data; all data is “Big Data” but Framework Modernization is needed to extract the value from this growing asset.
6. Continuous Intelligence: A style of work in which real-time analytics are integrated within a business operation, processing current and historical data to prescribe actions in response to business moments and other events.
7. Edge Analytics: The increase in mainstream IoT devices is making it crucial for real-time analytics and performance to bring analytics where sensors are to optimize data transfer, it’s cost and minimize latency.
SLOW SHIFT TRENDS:
8. Immersive Analytics: A shift into a multi-channel experience that will connect people with the digital world across the hundreds of edge devices that surround them.
9. Infonomics: The emerging discipline of measuring, managing and monetizing data as a business asset capable of transforming a company’s products and services.
Take your insights to the next level. Download the free eBook, 2019 Data & Analytics Trends to learn best approaches to all nine trends.