Augmented analytics to simplify acquiring business intelligence
TECHNOLOGY is evolving at light speed as newer trends emerge in Gartner’s top data and analytics list for 2019.
Augmented analytics topped the list as it’s predicted to be the next market disruptor. The concept was only introduced a few years back by Gartner analysts.
Now, it is ready to provide real-time, insightful business intelligence (BI) to take enterprises to the next level of expansion. Previously, the process required the manual effort of data analysts.
Data analysts can be impractically expensive in order to gain BI for small and medium-sized enterprises (SMEs).
It is estimated that gathering, preparing, and cleaning up data accounts for 80 percent of a data analyst’s productivity hours. With the obscene amount of big data that the world is producing daily, the figures are bound to increase too.
Enterprises host large amounts of big data and will continue to. With augmented analytics, enterprises will be able to gain BI quickly and with fewer errors.
The augmented analytics technology uses machine learning (ML) and AI techniques to change how analytics content is produced and consumed. Subsequently, sharing intuitive information for businesses in a shorter timeframe so that no market opportunities are lost.
At a recent Gartner event, the company’s Research VP Rita Sallam commented on the business impact of technological trends.
“It’s critical to gain a deeper understanding of the technology trends fueling that evolving story and prioritize them based on business value,” she said.
Businesses risk losing competitive advantage if they do not keep up with data and analytics trends.
Following closely behind ‘augmented analytics’ on the list is augmented data management.
Augmented data management leverages on ML and AI technologies to automate manual tasks that are repetitive and mundane. This will help high-skilled technicians to focus on higher value tasks.
The research claimed that manual data management will be reduced by 45 percent by 2022.
Gartner VP and Analyst Donald Feinberg said that “the continued survival of any business will depend upon an agile, data-centric architecture that responds to the constant rate of change.”
Automation is one of the first items on the digital transformation agenda for businesses and they are in for a treat with augmented analytics.
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