Data Into Real World Results

AI/ML has come a long way in the last decade, and now it is time to put them to work! Data analytics is one of the most important strategies for any company or industry that wants to succeed. Data analytics is used in many ways, but it all boils down to the same thing: finding solutions to problems using data and machine learning. Here's how data analytics can be used to solve real-world challenges for organizations:

- Data analytics is used to find the best products or services for customers. This means that data can be analyzed to see how well a product has been selling and other competing products and what they offer. With this knowledge, companies know which items are worth investing more time into because they are popular with consumers.

- Companies also use data analysis strategies like predictive analytics to make predictions about customer behaviors based on past purchases or website browsing activity so that they can create personalized marketing campaigns targeted at what demographic would likely buy their product. Without these types of tactics, businesses would have no idea who was interested in buying from them!

- With the help of data analytics, companies can predict what customers want and will buy before it even becomes available.

- Artificial intelligence is also used to try and predict what customers will want before they know it themselves. For example, news sites use AI to recommend stories or topics based on the reader's past browsing history so that they will not miss any of their favorite content!

Three tech-trends that data & analytics leaders must focus on:

Tech-Trend 1: Smarter, faster, responsible AI

75% of enterprises will shift from piloting to operationalizing AI, driving a 5X increase in streaming data & analytics infrastructures by 2024. During a current pandemic, AI/ML, optimization & natural language processing (NLP) provides vital insights and predictions. AI/ML are realigning supply & supply chain to demand patterns.

Tech-Trend 2: Decision intelligence

33% of large organizations will have analysts practicing decision intelligence with decision modelling by 2023. This brings together several disciplines like decision management & decision support. This involves applications in complex adaptive systems that bring together multiple traditional & advanced disciplines.

Tech-Trend 3: Relationships are the foundation.

Graph technologies will support rapid contextualization for decision-making in 30% of organizations by 2023. It is a set of analytic techniques allowing exploration of relationships between organizations, people & transactions. It is used to find unknown relationships in data.

Data analytics is a powerful tool for businesses as it allows them to take control over how they operate with the help of predictive analysis and artificial intelligence. It benefits both companies looking to make predictions about customer behavior and individual consumers who are always interested in finding out more information about products they're considering buying from these companies.

Source: https://www.gartner.com/en/articles/12-data-and-analytics-trends-to-keep-on-your-radar

https://www.gartner.com/smarterwithgartner/gartner-top-10-trends-in-data-and-analytics-for-2020