From the present scenario, it is evident that the year 2020 will continue to be an uncertain time for businesses. We have found out new ways of communicating and collaborating in a different way. As we are gradually get adapted to the feasible solutions, there are three accelerating data and analytics trends as a result of the existing conditions.
Initially, the predictive analytics will be replaced by proactive diagnostic analytics for the rapid success in the businesses. Secondly is the replacement current hybrid model by cloud-native data. And third, a future where diagnostic analytics start looking a lot more like search.
- Proactive analysis over predictive modelling:
Trusting predictions is a risky path for companies who need to make rapid, high-risk decisions. Moreover, restructuring data, for another set of assumptions creates more problems and confusions for a faster-growing business. The main problem is the unbearable cost of acquiring sufficient data. Secondly, the short of the expected accuracy of the data thus acquired. The rapid decline of predictive analytics doesn’t really mean that the analytics teams are not having the data to make informed decisions. But nowadays we are blessed with automated technologies for exploring vast data, and providing more daily decisions that prevent an inevitable misstep of ‘gut feeling’ in decision making.
- Cloud-native overtaking hybrid architectures
It is expected that there will be an increase in the stored data, but without fundamental changes on the access, investigation and being able to explain the data, the firms miss the chances to gain any advantages from them.
The invent of the hybrid data model has built the complexity between business users and the data they need to make informed decisions. The most effective alliances between the data teams and businesses are seen in firms that made decisions to build a fully cloud-native stack.
- The exploratory analysis starts resembling search
A competitive advantage ranges from a company’s ability to explore its data and find useful facts. But organizations need tools that can proactively find out the best data available that having an impact. The new platforms take a declarative approach instead of making biased guesses.
Search allows user to easily find out the highly relevant content drawn from billions of records. It is expected to gain competitive advantage and interest among the users worldwide.
The current dilemma is to handle too much data in too little time. The companies who can leverage data and make critical decisions will successfully survive the rapidly growing business scenario.