AI Powered Analytics Means Big Change!
Matthew Tod
Chief Data Officer, Non Executive Director and Advisor working with leaders seeking to harness data, analytics & digital tools to drive growth, improvement and deliver better outcomes
The fusion of AI with everyday analytical tools such as Excel and Power BI, coupled with the emergence of AI Powered no-code programming platforms, is ushering in a new era for analytics within organisations. If you have not played with ChatGPT Code Interpreter or watched the video demo of AI inside Excel then this article may not mean much to you, but if you have you will surely be wondering about the future of analytics.
These advancements will empower business users with the unprecedented ability to perform advanced analytics and even code without technical expertise.?It's a scary thought!
The result will be a profound transformation that redefines how analytics function, bridging the gap between data and decision-making, and democratising access to insights across the organisation. Here's an exploration of the key changes that will be happening in your organisation:
1. Data Engineering: Expands greatly
? Automation and Integration: Enhancing data pipelines and integrating many more various sources.?
? Data Cleaning Tools: Utilizing automated tools for cleaning and pre-processing at scale.
? Scalability: Re-designing systems to handle larger volumes of data.
? Real-Time Processing: Meeting the demand for real-time data processing to support AI-driven analyses.
2. Data Integrity & Compliance: Moves to centre stage
? Quality Assurance: Implementing rigorous processes to ensure data accuracy.
? Governance: Implementing access control, compliance, ethical guidelines, and deploying specialized tools.
? Standardization: Creating standardized definitions and managing metadata for understanding and trust.
3. Analytics User Experience: Make the power of analytics accessible to all
? Intuitive Interfaces: Designing user-friendly interfaces for non-technical employees.
? Customization: Providing options to suit varying user needs and skill levels.
? Embedding Analytics: Integrating analytical capabilities into existing systems and tools.
4. Data-Driven Decision-Making Process: Meetings will have to change
? Enhanced Decision Making: More decisions becoming data-driven and even automated, reducing guesswork.
? Increased Data Querying: Enabling more thorough analyses and reducing blind decisions by providing easy access to data querying tools.
? Alignment with Strategy: Integrating data analytics with overall business strategy for informed decision-making.
领英推荐
5. Recruitment, Staffing, and Analytical Skills Across the Workforce
? Analytics Training and Development: Continuous training and tailored onboarding for ALL new hires.
? Cultural Fit and Diversity: Looking for candidates with data literacy, adaptability, and ensuring diverse perspectives.
6. Risk and Compliance Management: Gets a whole load more complicated
? Assessing Risks: Identifying and mitigating potential risks related to AI Analytics.
? Disaster Recovery: Implementing robust plans for handling disruptions or failures.
? Global Compliance and Regulations: Navigating varying regulations concerning data privacy, AI ethics, and industry-specific compliance across different countries and regions.
7. Ethical Considerations and Social Responsibility: An increasing risk
? Transparency and Fairness: Ensuring AI algorithms are transparent, fair, and free from bias.
? Social Responsibilities: Understanding and addressing the social responsibilities in deploying AI.
8. Analyst Role Transformation: New skills will be needed as old skills are automated out of existence
? Beyond Reporting: Moving up from traditional BI and reporting to delve into deeper analytical insights, using AI to uncover patterns, predictions, and actionable recommendations.
? Specialization: Analysts will have to specialize in specific areas such as predictive analytics, machine learning, data governance, or industry-specific domains.
? Strategic Contribution: Shifting from mere data presentation to playing a critical role in strategy formulation, decision-making, and driving business innovation.
? Skill Evolution and Technical Mastery: Developing expertise in new technologies and methodologies to lead complex analytics projects, requiring continuous learning and adaptation.
? Collaborative Influence: Working closely with cross-functional teams, translating technical insights into business language, and influencing organizational decisions.?
? Ensuring adherence to data governance policies, integrity, and security; upholding ethical standards in analytics; mitigating potential risks, and aligning practices with relevant regulations, including data privacy laws and industry standards.
Conclusion
The integration of AI and no-code programming into everyday analytical tools reaches every corner of the organisation, empowering managers with greater knowledge and insights. This change to analytics will be a profound transformation.
Analysts will witness a transformation in their roles, making it a more rewarding career as the burden of reporting is automated and their true analytical talents are unleashed.
The question is though - what does this mean for you?
SEO & Analytics Since 1995 | Brighton SEO Speaker
1 年This goes back to the conversations that we've been having for years on how to educate people to intelligently use data and most importantly ask the right questions I've been using ChatGPT recently for a whole host of items including writing Javascript snippets, textual analysis and creating product descriptions The one thing that all of these have in common is the level of detail that you need to provide in your prompt Plus knowing that part of the process is trial and error and understanding which bits to refine and which bits to discard
Chief Digital/AI and Transformation Officer | Managing Partner. I work with CEOs to harness Digital, AI & Data to enable step change results via Operating Model, Revenue, Customer and Financial Transformation.
1 年Matthew Tod some excellent insights and I couldn’t agree more in terms of the revolutionary AI capabilities that are going to transform analytics and ultimately how businesses work.
Founder of PRIMED -Delivering value through data and AI solutions and services. Delivery leader, PMO and change expert.
1 年A great article Matthew and this resonates with what we are seeing at PRIMED where business is realising the need to get a grip of its data to benefit from the many use cases AI can support at the same time as using AI to get to grip of its data! We’re very excited to be part of this revolution.
Thanks for sharing Matthew, a fast moving environment I may never understand...