Data is the current biggest market trend that is the driving force for nearly all types of organizations. Artificial Intelligence, Data Science and Big Data Analytics are gaining more momentum and have become the key trends in today’s fast-paced market. The data analytics industry is experiencing tremendous growth because every day a new business adopts data-driven models to streamline their operations. Data analytics is helping businesses to focus more on adopting data-driven models, to make fact-based business decisions and expand their data-focused product offerings.
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These trends in data analytics are helping organizations to deal with new market changes or any unforeseen challenges. Here are top 5 Data analytics trends for 2022 that will change the way businesses handle interpretation and communication of data.
Cloud-based Solutions
Thanks to the pandemic, all enterprises, small or medium have had to go remote. This escalated the use of cloud-based technologies. From the past two years cloud-based technologies are helping companies in saving the costs associated with outdated computing software. Cloud-based solutions are now the new normal in the corporate world and more and more companies will opt for cloud-native analytics solutions in the future.
Predictive Analytics
To identify the future outcomes of business decisions a business needs to use data, statistical algorithms and machine learning techniques. This is known as Predictive analytics which is mostly done using historical data. Predictive analysis uses historical data to know what has happened and provides better and suitable solutions for the future. In 2022 and in the future predictive analytics technology will become more immersive in our daily lives via the devices we interact with.
Augmented Analytics
Augmented Analytics is a key business analytics trend in today’s data-driven world. Augmented analytics is a part of data analytics that uses Artificial Intelligence, Machine Learning, and Natural Language Processing to automate and improve data sharing, data analysis, business intelligence, and more. Augmented Analytics has the capabilities to perform the tasks of a Data Scientist. It can help with data preparation, process it, automate it and derive insights from the data.
Increased use of Business Intelligence tools
Business intelligence tools have the potential to transform the way companies approach data analytics. 2022 is about to witness an increase in the use and adoption of business intelligence tools by several industries. The level of computation and expertise that goes into interpreting data can be exhaustive but with business intelligence tools big data can be interpreted easily. Anyone can use business intelligence tools; you need not have an IT background because the BI tools can easily execute analytical functions for you.
Data Visualization
Considering the rapidly growing market trends data visualization has gained instant momentum. Data Visualization is practically the last step of any analytics process. Data Visualization utilizes visually interactive ways and helps businesses to make informed decisions. The human brain can process visual information better than any other form and data visualization technology makes use of patterns, charts, graphs to present data in a visually attractive and easy to understand manner. This can help organizations to process and understand complex data.
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