AI usage is growing rapidly. What does 2021 hold for the world of analytics, and how will AI drive it?
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As the world prepares to recover from the Covid-19 pandemic, businesses will need to increasingly rely on analytics to deal with new consumer behaviour.
According to Gartner analyst Rita Sallam, “In the face of unprecedented market shifts, data and analytics leaders require an ever-increasing velocity and scale of analysis in terms of processing and access to accelerate innovation and forge new paths to a post-Covid-19 world.”
1. Augmented analytics within embedded dashboards
Gartner predicts that by 2024, 75% of enterprises will shift towards putting AI and ML into operation. A big reason for this is the way the pandemic has changed consumer behaviour. Regression learning models that rely on historical data might not be valid anymore. In their place, reinforcement and distributed learning models will find more use, thanks to their adaptability.
A large share of businesses have already democratised their data through the use of embedded analytics dashboards. The use of AI to generate augmented analytics to drive business decisions will increase as businesses seek to react faster to shifting conditions. Powering data democratisation efforts with AI will help non-technical users make a greater number of business decisions, without having to rely on IT support to query data.
Companies such as Sisense already offer companies the ability to integrate powerful analytics into custom applications. As AI algorithms become smarter, it’s a given that they’ll help companies use low-latency alerts to help managers react to quantifiable anomalies that indicate changes in their business. Also, AI is expected to play a major role in delivering dynamic data stories and might reduce a user’s role in data exploration.
2. Greater commercialisation of AI and ML
A fact that’s often forgotten in AI conversations is that these technologies are still nascent. Many of the major developments have been driven by open source efforts, but 2021 will see an increasing number of companies commercialise AI through product releases. […]
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