Top Data Analytics trends for 2022

2. Top Data Analytics trends for 2022 • The study of data science or analytics has opened up the scope for a variety of concepts like deep learning, NLP or Natural Language Processing, advanced statistics, etc. • Along with these new fields, the rise of Artificial Intelligence (AI) and Machine Learning (ML) has been significantly higher as the opportunities for incorporating a data-driven or data-inspired system is booming in the market. • Ever since the buzz was created around the word “data”, many organizations, enterprises, and startups began to leverage data science and data analytics to make their operations efficient. • Nearly 63% of the companies attribute their improved efficiency to data analytics. Furthermore, the talents surrounding data science and data engineering has come a long way since the dawn of the word- data.

3. Data-driven customer experience • Customer service is an integral part of any product/business. The reason why customer service is directly related to branding has a lot to do with the present market conditions. The company’s culture plays an integral part in adapting to the latest market waves. • This is one of the crucial reasons why a data-centered organization seems to have a better branding rapport than the ones that don’t. • Even small steps like reducing the wait time of the customer can influence your brand image. But, to arrive at this point, a clear-cut idea of the data at the hand is much needed.

4. Higher-level AI implementation • Artificial Intelligence is in almost every other industry in the market. The scope for AI is higher than any other technology in the world as it can be amalgamated with other technologies. • Data analytics and AI seems to be the perfect match since the impact they create together is much higher than they do separately. • Many data analysis solutions are based on AI, and a lot of competitive big data analytics companies are leveraging Artificial Intelligence to their fullest.

5. Big data adoption • The data we produce per day is increasing at an exponential rate. To process such mountains of data effectively, and to store and analyze them is a hectic task. However, big data analytics has helped a lot with doing so. • The demand for big data analytics in the present market is simply unbelievable. It is no more a secret in a box. • Many organizations are leveraging big data analytics to understand things like customer behaviour, technical process, predictive analytics, prescriptive analytics, etc.  • The market for predictive analytics alone is expected to reach $22.1 billion by the end of 2026.

6. NLP and data analytics • Honestly, we are now closer to bringing a highly capable AI to life through conversational analytics and NLP (Natural Language Processing).   • Natural Language Processing has enough horse power to fuel a highly compatible Artificial intelligence system that can use the swarm learning technique to understand new things, • Artificial Intelligence systems with Natural Language Processing interfaces can turn the tables in no time! • It can make use of a central database like the web or other private clouds to extract the required data for its functioning. This is one of the most expected data analytics trends in recent times.

7. Augmented analytics • Given the current scenario, augmented analytics will skyrocket in 2022. The market value for augmented analytics is set to be $13 billion, and the industry will reach this by 2023.  • By the time the market has a taste for augmented analytics, the market value would be much higher than the reported value. • Augmented analytics opens up the chance for people from non-technical backgrounds to leverage the data analytics technology to its maximum. • Even though augmented analytics runs on higher-level Artificial Intelligence and Machine Learning concepts, users don’t have to worry about it.

8. Wrapping this up, • Data analytics trends will not cease to grow in the near future. Even though we have achieved great lengths by leveraging data engineering and big data analytics, we have not achieved the peak of the technology yet. • The upcoming innovation in hardware, the latest cloud platforms, etc. will change the data game forever. • As many businesses will focus on automation to scale up, they will also need an infrastructure that can sustain these heavy operations imposed on them. https://www.way2smile.com/blog/data-analytics-trends/