Traditional business intelligence (BI) processes are no longer able to meet the demands of growing enterprises, forcing organizations to shift their focus on data sets that require new technologies and a better understanding of customer behavior. Global analytics and advisory firm Quantzig, believes the transformation from BI to advanced analytics techniques will lead to rapid growth of the market and with continuous innovation in data technology, the market is showing no signs of slowing.
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Quantzig’s Top 5 Data Technology Trends to Take Off in 2017
1) Machine learning and artificial intelligence
Machine learning applications are becoming more common but up to this point have still been quite limited. Quantzig believes this is likely to change in 2017, with more sophisticated applications being used for greater volumes of available data and the technology being applied to a much wider range of situations.
2) Intelligent Apps
Artificial intelligence will be used in apps to improve user experience, offering functions like natural-language processing and neural networks. These functions allow apps to perform many advanced tasks like responding to complex requests or prioritizing emails. Expect the world’s largest companies to make use of intelligent apps in the near future.
To create more time for complex work that can’t be handled by a computer, task automation for data analysis will increase. As data analysis increases in sophistication, people become more creative in applying it, leading to straightforward, repetitive tasks reduced or eliminated by automated programs.
4) Prescriptive applications
Prescriptive analytics is gaining traction due to its risk reduction and cost effectiveness attributes, and will likely be much more widely adopted in 2017. Instead of estimating how something might perform, prescriptive analytics analyzes various factors and objects to recommend the best course of action. For example, using prescriptive applications will allow you to test several product launches before choosing one, or determine the rate of success for your different marketing initiatives.
5) New and stronger data security
The integration of data into work processes and everyday life means data security has to evolve. The Internet of Things is growing, and has already showed some signs of weakness that need to be addressed, while organizations are collecting and transferring volumes of data greater than ever before. 2017 will see the evolution of data security as security professionals continue to innovate in order to keep up with new data technology.
For information on Quantzig’s services and solutions, or information on recent successful projects helping Fortune 500 clients, please contact us.
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 12 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of about 120+ clients, including 45 Fortune 500 companies.