Are you considering an advanced analytics solution? Then, it’s quite natural for you to wonder how exactly you are going to be benefitted with the same. Time has come for the business owners to thank artificial intelligence as well as augmented analytics! Business users are now much closer to their data and especially, to tortious insights. The wall between the questions asked by business users and the answers given by business authority has now tumbled down, paving way for much perfection and precision.
The benefits of augmented analytics are numerous indeed! Whether you have opened a new venture or have been running the business since long, by enforcing advanced analytics solution in your company, you can actually heighten the profit-margin yet more. When you can chalk out plans and make predictions with more poise, you can also make perfect business decisions on time. You can categorize opportunities, crack problems in a better way and share data to make sure that everyone in the venture is equally informed, and working with the up to date data. Also, with the appropriate self-serve tools, you can make way to a more erudite business environment that would guarantee high-end smart data visualization to help users through the planning process.
Augmented analytics has just altered how users have approached data till date. Non-technical users can now easily connive with augmented analytics solutions by placing questions directly and getting answers in a jiffy, which, in turn, has helped them curtail down their reporting time and perk up their performance. Moreover, with this advanced tech on board, technical analysts can now take care of more complex queries and data science projects. In a nutshell, we can definitely say that augmented analytics can help many different types of users across the business venture.
Being freed up to solve complicated problems that were never so easy to crack before, data scientists can now make way to advanced output. For an instance, a scientist, instead of scuttling through repetitive reports and answering simple queries, can easily solve problems with advanced AI and machine learning. Consequently, this cutting-edge and innovative work would provide the company with a benefaction on the competition. And, it would definitely be a win for everyone involved in the business.
Well, it doesn’t end here! Marketing personnel are even more likely to perk up their daily operations with augmented analytics on drill. Right from brand managers to chief marketing officials, every employee within the marketing parasol is often dependent an analytics team for all heights of data reporting. Before augmented analytics came into the scenario, marketers would generally have to be dependent on third parties; be it for one-off questions or for any in-depth planning. It was not only an inept practice, but was quite costly too. However, the emergence of augmented solutions has almost made this job a cakewalk! The clout is just back in the hands of the marketing users.
Even, sales team can be extremely benefitted by this. With the ability to obtain in-depth and automated analysis, augmented analytics helps abridge the decision cycle and this is certainly a key benefit for any sales team on board. Also, it enables them to get straight access to any kind of data. Sales people are always supposed to be agile enough to come up with prompt on-the-spot decisions. And, a responsive analytics solution would always allow them to pivot quickly. Also, sales executives would no more have to wait for any long-term reporting. Answers would just be available as soon as they’re required so that they can cox the car accordingly. Augmented analytics makes improvements happen pretty instantly, it doesn’t take days or months instead.
At the same time, any business intelligence platform would offer dashboards. And, an augmented analytics tool will use machine learning and artificial intelligence to depict what is really there in the dashboard data. Then, with brand health study, one can go deeper than a plain rundown of their standard metrics. So, there is no doubt in the fact that the sooner you embrace the technology, the better your team will be able to capitalize on the growth opportunities.
According to Allied Market Research, the global augmented analytics market is expected to grow at a significant CAGR from 2018-2025. Rise in need to democratize analytics, growing awareness of enterprises to use updated streams of data from various sources in innovative ways, and mounting demand to make the work easier for citizen data scientists as well as business users have fueled the growth. On the other hand, Security concerns related to critical data among different industry verticals and slow adoption of advanced analytics solutions in the underdeveloped regions have happened to curb the growth to some extent. However, increasing investments in bots have almost downplayed the factors and created multiple opportunities in the segment.
To conclude, it can be stated that augmented analytics market is expanding quite abundantly and in the next few years, it’s going to proliferate yet more.