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5 Major Trends in Data Analytics Industry

By CIO Applications Europe| Monday, September 07, 2020

The data analytics industry is transforming with the emergence of innovative technologies, and it has become a requirement for organizations to stay relevant and keep up with the changing trends.

FREMONT, CA: Today, data analytics has become vital for industries of any discipline. The implementation of data analytics in security, customer service, recruitment, and optimizing the business's daily functions is essential.

The data analytics industry is transforming with the rise of AI, IOT, and other open-source platforms, hence becoming necessary for organizations to stay up to date with the changing trends.

Here are five popular trends in the data analytics industry:

Conversational Analytics

It has been predicted that many of the analytical queries will be processed via voice and natural language processing integrated into different analytics tools for seamless and convenience of use. Many companies use NLP enabled conversational analytics as it offers many benefits and will continue to be a trend in the analytics industry.

Customer Service being Data-Centric

Customer behavior has become an essential factor in businesses because of its information, perception, and trends, which can be directly obtained from data.

Data Quality Management

With the generation of vast volumes of data, the quality of data will affect the data analytics, and as such, data quality management will gain importance.

Data quality management will include collecting and cleaning data and its distribution and management within the lifespan of data. By removing bad data and retaining the good ones, the organization will benefit in various ways, like decreasing the cost caused by poor data quality management.

Iot Data Analytics

IoT devices have sensors that produce data sets while interacting with the physical environment. It produces quintillions of bytes that require processing by data analytics solutions.

Specialized IoT data analytics solutions will be needed in the future to reduce assumptions from data generated by IoT devices.

Data Security and Privacy

With the growing advancement of technology, there also comes risks and threats with it. There are many cases of sensitive data being compromised and data breaches thus, organizations need to have robust data security. Various companies offer analytic solutions related to security, customer behavior, review collection, and more, allowing businesses to make an informed decision and build secure data protection from external threats.