There is no debate, Data is the fuel for businesses today!
Unless you have been living in a cave for some past decades, you would have been very well aware that data is the future.
Companies these days are producing ample amounts of data every day. The key lies in analyzing it, extracting value from it, and applying it to a noticeable business solution. Several organizations build business models surrounding data while others capture, store, and analyze data for drawing up certain patterns, tracking consumer behavior, speculating business outcomes, and so on.
So, you need to understand that business success cannot be attained only with raw data. A lot of research and interpretation is essential to arrive at certain significant conclusions which in turn will help businesses in taking smart business decisions.
Here comes the role of Data analytics. It paves the way for converting raw data into valuable insights to help businesses in optimizing performance and maximize profit without any hassles.
A recent report also states that businesses these days prefer data-driven decision-making instead of going for intuition-based decision-making.
You may now understand why the Data analytics market is growing exponentially these days. If you still doubt the upgrowing face of Data analytics, here are some quick bites for you.
- The data analytics market was estimated at over 240 billion dollars in 2021 and the market is anticipated to face growth in the upcoming years too.
- The forecasted market value is around 650 billion dollars by the year 2029.
- A recent report also states that companies not embracing data analytics will lose their competitive position in the market.
Also, Data analytics is now widely utilized across almost all business verticals such as Retail, Agriculture, Banking, Government and Public sector, and many more.
Keenly interested in knowing more about Data analytics and its latest trends? Continue reading to delve into the ocean of Data analytics.
Interesting trends that are going to shape Data analytics in the near future
Analytics will become pervasive
Analytics adoption will keep pace in the upcoming years. Cloud architectures and on-demand analytics platforms will grow and deliver functionality in order to meet varied business needs. Many organizations will add more than one BI or analytics tool and will combine components from various analytics solutions for building business apps. This will certainly provide a rich view of data.
Businesses will effectuate AI
Most organizations are striving hard to analyze the ocean of data they gather because 90% of data is disorganized. AI and machine learning technologies will play a key role in this by enabling businesses to analyze data in a faster and smarter way.
By embedding ML and AI technologies with data analytics and business intelligence tools, companies will be able to handle complex data types and discover the hidden value of large volumes of unstructured data.
Meta data-driven data fabric will upsurge
As organizations automate various systems and utilize AI/ML technologies in order to analyze vast data pools, they are eventually combining modern capabilities and traditional data sources which is where the Data fabric concept comes into the picture.
Data fabric paves the way for organizations to process and analyze data from specific systems that are logically or physically different – such as social media, multiple clouds, mobile apps, IoT devices, etc – under an integrated set of objects. By refining the data fabric with metadata, analysts will be able to gain a deeper understanding of data.
Analytics will become more adaptive
Analytics will become adaptive and so will process data in real-time, realize the context and adapt its behavior correspondingly. The main benefit of adaptive analytics is that companies can take decisions depending on real-time data with accuracy.
Analytics will extend to the edge
Organizations across the globe are now moving to a decentralized computing model, edge computing – where decision intelligence, AI, and analytics are built into edge apps. This model allows companies to do data evaluation in near real-time and deliver actionable data.
Hope you would have now gained enough insights into some trends that will shape the future of data analytics.
Get digitized with Techmango!
To say in a nutshell, organizations that build a robust analytics culture and competency will be able to take business decisions wisely.
But the question is how to build a sturdy Data analytics platform to grow a strong business in the current market trend.
So, a bespoke and comprehensive data analytics service is obviously the need of the hour.
According to my knowledge, getting to a leading IT service provider like Techmango that has immense expertise in delivering impressive Data analytics services for diverse business models over the years will be the best option.
Techmango has been growing exponentially with continual support from its clients. Their reliability and total commitment to providing unique products with no compromise in quality made it achieve this milestone in a very short span of time.
You may wonder how Techmango will help in arriving at a suitable data analytics solution for varied business needs. Here are some interesting facets of Techmango in the Data analytics sector.
- Techmango’s enthusiastic team of experts stays current with the latest industry trends and so arriving at a flexible data analytics solution satisfying all the above enhancements and innovations in the Data analytics field will be just a piece of cake.
- By partnering with Techmango, entrepreneurs can benefit from leading technology and domain expertise, market-leading consulting solutions, strategic industry partnerships, and many more.
- Techmango can completely act as your Data analytics partner and work for a better future by serving as
- Most trusted technology Offshore partner
- Center of Excellence (CoE) for complete Data analytics services and solutions
- Dedicated team/IT staff augmentation/ Resource provider
- IT consulting service provider to tackle your complex projects
- Techmango has been partnering with world-leading tech brands such as IKEA, Honeywell, TVS Electronics, TVS Eurogrip, BBraun, Prime HealthCare Group, Coats Global Services, Tech Mahindra, etc.
- We deliver outstanding Data analytics services to help innumerable brands in facilitating their complex business operations and frameworks, enhance system efficiency, build powerful relationships with customers, and attain exponential growth right away
Take a glance at some notable Techmango Offerings in Data Analytics
Techmango golden approaches in Data Analytics
- A data-driven approach to map analytics initiatives to a quantifiable business outcome
- Augmentation of assets with predictive analytics to bring a 360-degree customer view
- Assistance with monetization, governance, and total compliance in addition to data analytics and synthesis.
- Customization of user-friendly tools to embrace data that leads the road to AI.
- Turnkey data analytics solutions and custom solutions for specific needs.
How you benefit from Techmango as your Data analytics partner
- Value-focused Data Analytics
- Easy to read reliable reports
- Custom Data analytics solutions for different industries such as finance, sales and product, supply chain, logistics and transportation, Manufacturing, healthcare, retail, and so on
I hope you would have now understood the Data analytics trends and how Techmango can serve as your most trusted partner for your end-to-end Data analytics needs.
So, Are you Ready? Looking to get Techmango benefits for your steep business growth?
Reach us now to get a free consultation at your convenience from our enthusiastic team of experts. Kick-start your successful business journey with us!
Hoping to see more inclusions under the Data Analytics section? If yes, comment below.
You will be seeing those interesting additions in my next post