Before 2022 is about to pass, let's welcome the upcoming new year with the data analytics trends that will be influential in 2023 that businesses should not miss, if they want to keep up with their competitors.
In the past few years, many things have happened, including various technologies, both in terms of AI and data, which are rapidly evolving in line with the changing world. In 2022, we have seen many organizations lay the ground for success using technologies like data analytics that help businesses utilize data to add enormous value.
And in 2023, we believe that data analytics technology will continue to dominate every industry because data has become the heart of every step of the business. Almost every business uses data to support its directions and decisions. And in the future, data analytics technology will only continue to evolve with increasing capabilities and sophistication.
Sertis invites everyone to examine top data analytics trends in 2023 that will revolutionize businesses and help drive all industries into the future.
1. Augmented Analytics
Among all the key data analytics trends, augmented analytics is something we will definitely see more of in 2023. Augmented analytics automates data analytics using machine learning models and natural language processing (NPL). Augmented analytics facilitate processing data without the need for a position like a data scientist to be involved.
The system will run the tasks from collecting data, preparing data, detecting trends and patterns, and deriving insight by itself. Normally, data extraction and data preparation tasks are mainly performed by data scientists, which is a time-consuming task. Augmented analytics uses NLP technology to understand the language data speaks, which is the key that makes it possible to remove manpower from the process.
2. Data Democratization
Data democratization is another trend that is gaining momentum in an age where data has enormous value. It is a trend that promotes equality in the use of data. Data democratization empowers all organizations to encourage confidence in using data, openness for discussing it with transparency, ease of use, and access to effective tools. The practice will result in the organization as a whole using data more efficiently, leading to quality products and services being launched into the hands of consumers.
An example of data democratization in an organization is how non-IT or non-technical teams can confidently access the data they need, without the IT team limiting the use, as long as it does not compromise the security of the organization. Data democratization in the organization speeds up operations and unlocks the fullest potential of data.
3. Data Fabric
Data fabric is the design of an organization's data architecture with integrated layers of connected data. It provides seamless, end-to-end integration of all the data in multi-cloud environments. The architecture provides consistent capabilities across endpoints, regardless of environments, processes, and sources, whether it is in the cloud, on-premise, or other storage environments. Data fabric facilitates organized storage, comprehensive supervision, flexibility to change, automatic end-to-end management, and harnessing data to its full potential.
The data fabric standardizes data management practices and reduces the workload of designing and managing data in an organization by up to 70 percent. It is an ideal architecture in an age where data is growing, rapidly changing, and becoming more complex. Data fabric will keep organizational systems organized and unified while being flexible to changes at the same time.
4. Data-as-a-Service
As the importance of data in businesses is skyrocketing, the Data-as-a-Service (DaaS) is a trend in data services that we will see more and more in 2023. Data is indispensable for doing business nowadays, but some organizations may not have the team or resources to set up their own data management system, resulting in the emergence of Data-as-a-Service. DaaS is a service from organizations that specialize in data to develop a software platform where users, which are organizational clients, can lay their data infrastructure, and manage, process, and analyze their data. The platforms are usually available on a cloud system via the internet.
Data-as-a-Service platforms provide several features from data warehouse management to business intelligence analytics tools, which can be used anytime, anywhere, and accessible across the organization. It can be said that it is a platform that provides a one-stop data service that manages all your organization's data in one place, which reduces work time and resources, and increases flexibility in data management.
5. Real-time data
In businesses, data is a useful resource for strategic planning and decision-making, but having a system that monitors and analyzes data in real-time is even more useful. Therefore, a system that allows us to retrieve and process data in real time is another top trend in data analytics that we will see in 2023. Although viewing data in real-time is more costly, what we get in return is the ability to keep track of everything in our business, manage unexpected changes, and deal with problems quickly which causes less damage.
For example, we can monitor the types of customers who are currently entering our website, in order to adjust the display of promotional pages accordingly. We can also track financial transactions to detect suspicious behavior. Facebook leverages hundreds of gigabytes of real-time data per second to recommend tailored ads or content. With ads and content that seem to read our minds, Facebook can lure us to surfing on its platform for hours a day. The tool that allows us to monitor and analyze data in real-time is, therefore, very useful in this fast-moving world. It is another trend that businesses should invest in in 2023.
At Sertis, we are a leading data analytics solution provider. We design solutions that help you make use of your data, unlock its potential, and find state-of-the-art data analytics innovations to draw insights that are beneficial to businesses. With technologies ranging from augmented analytics to real-time insights, we create solutions that meet all business needs. Learn more about data analytics solutions from Sertis at: https://www.sertiscorp.com/services