Impact of Emerging Analytics Trends on the Future of Data Analytics

 In this constantly evolving competitive world, Data Analytics is playing a very crucial and prominent role in every business. Data analytics has enhanced the performance of every industry from manufacturing to the retail industry. Data analytics is not only used for enhancing the processes in the organization but also to provide insights into future marketing trends. As per the IDC predictions, big data would stretch nearly 44 trillion gigabytes by 2020. As per Forbes, the demand for new job roles of data engineers, data developers, and data scientists would reach nearly 70000 by 2020.

Let's discuss top 5 data analytics trends in the future:

Internet of Things (IoT):

Connecting everything and everyone and making the world even smarter, IoT plays a very crucial role. It is safer, faster and more efficient form of analytics for organizations. IoT does not require any human interaction. IoT has a huge demand in industries like energy, healthcare, and transportation as the things involved in this organization are more relevant to the human lifestyle. As per Cisco estimation, by 2020 IoT sensors will increase by 50 billion and it would reach 200 billion by 2030 as per Intel. The IoT market is expected to grow from $170.57 billion in 2017 to nearly $560.14 billion by 2020.

IoT helps organizations in digging relevant data from heaps of big data. In understanding the value of IoT every business needs Business Analytics Companies to deliver advanced IT marketing trends and solutions.

Augmented Reality:

The enhancement in AR application provides customers to visualize products imagine the feel and experience the services in the real world. Apple AR kit, Google SkyMap, and ARCore for android by Google are the real-world examples for AR enhancement. The award-winning Gatwick airport passenger app and Ikea Place app are also the latest AR platforms. It is estimated that by 2020 there will be nearly 1 billion users for AR apps. Data Analytics Companies are accumulating the robust technologies in AR app like Environmental understanding, image recognition, motion tracking and light estimation which makes the app even more competent.

Artificial Intelligence:

Augmented Intelligence an enhanced version of AI is mainly developed to upgrade human intelligence instead of replacing it. Many ruling websites of social media Facebook, Google and Amazon are using this AI in their processes for real-time data analysis. This AI can precisely take decisions by analysing the data sets as good as humans without any errors. As per the survey conducted by Adobe in 2019, many of the CIO officers in the US are planning to increase the use of AI to 80% in their organizations.

Hyper-Personalization:

In today’s hyper retail markets, knowing your customer is the main key for enhancing sales. The data from the customer mobile is continuously analyzed for providing them with more personalized services. Amazon Echo and Google Home have taken a step forward in implementing this hyper-personalization and this became a huge success.

Behavioral Analytics:

Behavioral Analytics is one of the most popular data analytics that can be used commonly in gaming, e-commerce, social media and other online applications. This application analyses high volumes of raw data that customers are using while they are on social media. The data is further processed and then used for taking certain decisions regarding market trends. Most of the Business Intelligence and analytics services are now providing the right behavioral analytics tool that can be easily accessible by every team member and they can gain actionable insights about the customer's preferences.