Data, analytics and artificial intelligence are some of the hottest topics today and there is little doubt that they are going to continue to grow throughout the decade. They present outstanding career opportunities, including a variety of paths for specialization.
Now as we are a few months into the COVID-19 pandemic, Gartner monitored how companies have been using the technologies and recently published some trends they’re seeing, as well as predictions for where the industry will go in the next few years. Here’s a brief summary of their top data and analytics tech trends:
- Smarter, Faster, More Responsible AI: Machine learning, optimization, natural language processing, reinforcement learning and distributed learning are all helping companies through the COVID-19 pandemic, and that’s just the start. Gartner predicts that by 2024, 25% of organizations will shift from piloting to operationalizing AI.
- Decline of the Dashboard: Rather than static, predefined dashboards, users will be working with dynamic data stories to see the most relevant insights based on their context, role and use.
- Decision Intelligence: This brings together several disciplines, including decision management and decision support, and Gartner predicts that by 2023, more than a third of large organizations will have analysts practicing decision intelligence.
- X Analytics: Referring to a range of different structured and unstructured content (ex. text analytics, video analytics, audio analytics, etc.), X Analytics will help identify, predict and plan for future crises.
- Augmented Data Management: These products will continue to improve as machine learning and artificial intelligence techniques help optimize operations, and metadata is used for powering dynamic systems.
- Cloud is a Given: Gartner predicts that in two years, 90% of data and analytics innovation will depend on public cloud services. They note that “Data and analytics leaders need to prioritize workloads that can exploit cloud capabilities and focus on cost optimization when moving to cloud.”
- Data and Analytics Worlds Collide: As the two lines between data and analytics blur and their capabilities continue to interact and collaborate, we’ll begin to see new roles for the people and processes that support them.
- Data Market Places and Exchanges: More and more organizations are either selling or buying data using formal online data marketplaces, and these platforms will consolidate third-party data offerings to reduce costs.
- Blockchain in Data and Analytics: Gartner expects that ledger database management systems will provide a more attractive option for single-enterprise auditing of data sources. In fact, they estimate that by 2021, most permissioned blockchain uses will be replaced by ledger DBMS products.
- Relationships Form the Foundation of Data and Analytics Value: Graph technologies and analytics are expected to help more leaders find unknown relationships in data, easier than they can with traditional analytics
Data and analytics are possibly some of the most exciting and fast-moving areas we’re seeing in technology today. Organizations world-wide, across all industries, are investing in different capabilities in order to compete and the need for talent in these areas is increasing. Understanding the trends and where they’re going can help you plan your professional development roadmap and get access to the best contracts in the future.