The data analytics industry is changing rapidly. In the coming years, we can expect to see new technologies and approaches emerge that will change the way businesses operate. Big data is becoming more and more important, and data visualization is playing a larger role in business intelligence. If you want to stay ahead of the curve, it’s important to understand these trends and prepare for what’s to come.
In the coming years, we can expect to see big data and business intelligence play an even more important role in the world of business. In this article, we will discuss the future of data analytics and what businesses can do to take advantage of upcoming trends.
The history of data analytics
History is full of businesses that have transformed themselves by leveraging data. For example, in the 18th century, British businessmen used data to figure out how to make better use of their resources and increase efficiency. In the 20th century, companies like IBM and Walmart used data to gain a competitive edge. And in the 21st century, data has become even more important.
Today, data analytics is used in a variety of industries, from retail to healthcare. And the future of data analytics is looking even more promising.
The growth of data analytics
In the coming years, we can expect data to play an even more important role in business. “By 2023, the big data industry will be worth an estimated $77 billion” according to Sigma Computing. As data becomes more accessible and easier to use, we will see more businesses using data to drive their decision-making.
Data analytics is no longer just for big businesses; it’s now being used by small businesses and startups as well. And as data analytics becomes more democratized, we will see even more innovation in the field.
The future of data analytics
So what does the future hold for data analytics? How will data analytics continue to evolve in the future, and what implications will this have for businesses and consumers alike?
Here are five data analytics trends to watch out for:
- Artificial intelligence: Artificial intelligence is already being used by data analysts to automate data collection and analysis. In the future, AI will become even more sophisticated and will be used to identify patterns and trends in data.
- Visualization: Data visualization is becoming increasingly important as businesses strive to make data more accessible to non-technical users. In the coming years, we can expect to see more advanced visualization techniques being used to help people understand data.
- Augmented reality: Augmented reality is starting to be used in data analytics, and we can expect this trend to continue. AR can be used to visualize data in new and innovative ways, and it has the potential to transform the way businesses use data.
- Big data: In recent years, we’ve seen a tremendous increase in the amount of data being generated. This is thanks to the proliferation of devices, sensors, and social media. And as data becomes more accessible, businesses are starting to use it to gain insights into their customers and operations.
- The Internet of Things: As the Internet of Things (IoT) grows into the fabric of our lives, dealing with data will be more important than ever. “The biggest hurdle facing organizations considering IoT deployments will be knowing what to do with the massive amounts of information that will be gathered” explains Infoworld.
These are just a few of the trends that we can expect to see in the future of data analytics. As data becomes more important, we will see more businesses using it to drive their decision-making.
Data analytics as a career
With the rapid growth of data analytics, it’s no surprise that data analytics is becoming a popular career choice. If you’re interested in a career in data analytics, now is the time to get started. You can even complete an MBA data analytics online. There are a variety of data analytics roles available, from data scientists to business intelligence analysts. And as data analytics becomes more democratized, we will see even more opportunities for data analytics professionals.
Data analytics is quickly becoming one of the most important tools that businesses can use to drive their decision-making. In the coming years, we can expect data analytics to become even more sophisticated and widespread. As data becomes more accessible, businesses will be able to gain insights into their customers and operations like never before.