Three Trends in Data Analytics

Data analytics is now such an advanced industry that it experiences trends of its own, especially as businesses become more creative in the ways that they use it. Here are some of the main trends for 2024 to know.

1. Embedding AI

Data analysis has traditionally been a resource-intensive activity requiring large teams of skilled individuals. But now, when businesses use a data analysis company such as https://shepper.com/ , they are likely to be using AI to speed up the process and improve accuracy.

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AI models use machine learning to continually evolve and get better at data analysis and manipulation, unlocking ever greater value for client businesses.

2. Using Business Intelligence Tools

Businesses are now automating their data using BI systems that help to organise it and spot patterns, trends and key takeaways for further action. These powerful systems can be integrated into existing business systems and networks to extract real-time data and give businesses what they need for fast decision-making, as things happen.

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There are various different types of business intelligence and BI strategies now being incorporated into businesses in a profound and critical way that underpins the entire organisation.

3. More Edge Computing

As data usage explodes and businesses demand real-time data and analysis, there is a shift to processing data at the device that generates it, rather than within a data centre and cloud. It is expected that this trend for edge computing will continue to grow, avoiding the risks of processing delays, security risks and network issues.

Businesses are expected to invest billions of pounds in edge systems that give them greater access, control and security when it comes to their corporate data, offering further benefits such as operational resilience, real-time decision-making as events occur and more meaningful data for better decisions.

These three trends show how the data industry is constantly evolving and transforming. Businesses are realising that their key to competitive advantage lies in harnessing the data that they produce and using it for better decision-making in a highly changeable, increasingly complex and ever-more digital world.