Over the past decade, the business analytics industry has seen tremendous changes. Big data, the cloud and machine learning were just a few of the big trends to burst onto the scene and completely change what it means to collect, analyze and act on the growing mountain of data your company generates on a daily basis. As we enter 2020, we’ve got our eyes on a number of key analytics trends that are driving the industry forward. Here’s what you need to be aware of as we begin this exciting new decade full of possibilities.
Data visualization has been the hallmark of the analytics world, allowing analysts, data scientists, and sometimes even regular business users to see their data, perform analysis and gain insights. Today, analytics is moving beyond just visualizations to include the entire data pipeline, from data collection through transformation, analysis and ultimately to automation and data-driven decision making. Your next analytics solution needs to be an all-in-one platform that can seamlessly handle all of these functions.
Self-Service Analytics
Giving users the ability to perform their own analysis and build their own visualizations has also been a big trend over the past decade. But unfortunately, self service never really caught on as many had expected and users didn’t widely adopt analytics into their daily workflows. Going forward, however, the trend will be to move beyond self-service and for intelligent assistants to bring analytics and insights to users rather than the other way around.
Embedded Analytics
Embedding analytics was also expected to increase user adoption by putting analytics tools inside the applications people were already using. But sophisticated users demanded more flexibility and functionality than simply embedded charts and visuals could deliver. That’s why the trend in 2020 and beyond will be to embed the complete build experience so that users can actually create, share and automate their analytics from just about anywhere.
Analytics in the Cloud
Nowhere has the migration to the cloud been more evident than in the analytics world. But companies are quickly discovering there’s a big difference between being “in the cloud” and being fully cloud-native using the latest microservice architecture. Companies need more speed and more power to process more data than ever before, while simultaneously managing compliance, governance and security, and that’s something only a well-architected cloud-native solution can deliver.
Analytics in the Automation Layer
As data types and data volumes increase, so does the need for automation. Automation comes in many forms, from data collection and transformation to the actual analysis and dissemination of insights created. Coupling automation with the latest in machine learning, the ability to take actions can also be automated thus finally delivering on the promise of true data-driven decision making.
AI & Machine Learning
Speaking of machine learning, artificial intelligence came into being over the past decade and is now rapidly expanding into many new areas. No longer is machine learning just a playground for developers and data scientists. AI tools and models are becoming democratized for everyone – even everyday business users, who can now incorporate them into their daily analytics needs. Predictive analytics, augmented analytics and natural language processing are now all coming within reach for the majority of analytics users.
Data Security and Privacy
The final important analytics trend for 2020 and beyond is not completely new, but it’s one that is rapidly gaining importance and significance. Data security and privacy is paramount for every organization and analytics is where much of your company’s data comes together, making it a target for abuse. Companies will need to maintain control of the data in their own environments in order to provide the security and compliance that’s expected from them.
About Qrvey
Qrvey is simplifying analytics on AWS by offering an all-in-one, cloud native platform that is on the cutting edge of all of these key analytics trends. Qrvey solves the dark data problem with an “all data accepted” philosophy. It is the only 100% cloud-native analytics platform that combines over 26 AWS microservices for maximum performance and efficiency. Qrvey is the only analytics solution with data collection, transformation, automation and machine learning capabilities.
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