Qualitative and Secure Data with Data Analytics

Qualitative and Secure Data with Data Analytics

Capital Markets CIO Outlook | Tuesday, April 23, 2019

The businesses are today running around big data. Big data and analytics are considered as the backbone for the businesses and are deeply entrenched. Now, will that spine grow effectively and mature or will that morph the shape of the businesses in new and interesting ways? It is sure that in 2019, big data will be challenging to the companies, whether all call it “big” or not, data will be growing at higher speeds. Most of the companies are focusing on the big data for and are focusing on the implementation of predictive and perspective analytic tools. Predictive analytics analyze the past data and predicts the future, but whereas perspective analytics tools analyze the hype of content to consider while taking the decisions for achieving specific goals.

Business intelligence had attained its worth and potential in 2018 itself. The strategies of business intelligence will be increasingly customized in 2019. Experts consider 2019 as the year of data quality management and data discovery: structured, qualitative, and secure data merged with a simple and powerful presentation. There was a huge growth in analytics trends in data quality this past year. Business intelligence is implied to extract and analyze the countless sources from the data that was collected at a high scale. This brought a bunch of errors low-quality reports which added more complexity to the data integration processes. Data quality management (DQM) is considered the most significant trend in 2019, as stated by the Business Application Research Center. Just gathering the information is not sufficient, but quality and context in the data being used will be the main focus for the future of business intelligence. Data quality management includes acquiring of data, Implementation of advanced data processes, effective distribution of data, and managing the oversight data. DQM not only addresses the business intelligence trends but also develops a critical practice to be adopted by organizations for the sake of their initial investments.

In 2018, most of the companies started relying on artificial intelligence and machine learning for making data-driven decisions. As machine learning application doesn’t offer any algorithm, they work on, data scientists are questioning its trust. In this upcoming year, it is expected that the data scientists will make sure they explain to the users how these algorithms are constructed and used. With the evolution of business intelligence, artificial intelligence, predictive and perspective analytics are expected to overcome the barricades related to the adoption of analytics in 2019 and transform the workstations into data-driven self-service operations.

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