Big Data Analytics Trends
As per predictions, data volumes will grow past what they were back in 2019. Also, the jobs created out of data science will get doubled from what they were in the past years. All these developments will bring about a major change in the way organizations and companies view business science. Data expanded its role in organizations and businesses in 2019 and in 2020 these are a few big data analytic trends that enterprises will continue to develop.
Machine learning tools help in gathering insights that would otherwise be impossible to extract by using other less- efficient methods. Automation along with machine learning provides results at a much faster pace and also provides a boost to efficiency.
Continuous Intelligence is a new technology developed out of augmented analytics specifically and other such technologies too. It uses present and historical data and creates decision making support or automation. CI capitalizes on several technologies like business rule management and optimization.
Continuous Intelligence can help in providing a reliable customer support system and also has unique suggestions for attracting the target customer group. Due to this, industries such as railways and airlines can benefit from it as it would help them schedule their decisions. As it has been already predicted, nearly 50 % of companies and businesses will make use of CI in 2020 and upcoming years.
Augmented Analytics engine automates through the organization’s data and performs actions on it like analyzes it. Therefore, it makes the process of gaining business information using advanced artificial intelligence and machine learning an automatic process. Augmented analytics requires little or no support from any person for the conversion of business insights into doable steps.
It also makes smaller businesses familiar with analytics. Augmented analytics has caused an evolution in the analytics industry by merging AI and ML. It has eased out the entire processes of sharing, developing and understanding analytics and has made it much simpler and easier.
In-memory computing helps business customers analyze a huge quantity of data and locate patterns quickly. In 2020, it will gain widespread popularity mainly due to reduced memory costs. The benefits of using in-memory are many and this is mainly due to latest innovations and developments in the field of memory technology which help in analyzing and processing high-performance tasks.
Last year analytics were a huge hit amongst companies as they helped gain an understanding of historical and current scenarios. This year, there will be a shift towards predictive analytics. This will be used to gain access to future climate trends, economic conditions and other needs like maintenance.
The above mentioned data analytic trends will have a massive role to play in a company’s success and also to make it stand out from its competition in the year 2020.