Data analytics and business intelligence tools are evolving at a rapid pace. However, is the average business stakeholder aware of the significant impact data analytics can have on increasing efficiency, reducing costs and improving decision-making skills for companies? Probably not. Digital Insurance brought this interesting topic to us in their article, “3 top ways data analytics will impact business strategies in 2020.”
According to one report focused on the healthcare industry, data analytics and information services will have the fastest growth rate at 16%-18% over the next five years. In addition, the reliance on analytics currently outweighs strategy as the key requirement in business planning. What does all this mean for data analytics in the coming year?
Everyone seems to agree that data analytics will become more embedded in day-to-day processes, specifically to provide analytics and artificial intelligence (AI) insights within the flow of business. There will also be a convergence of data science and traditional analytics in 2020. Robust analytics capabilities will be seamlessly paired with data science findings to provide a more complete experience.
Melody K. Smith
Sponsored by Data Harmony, a unit of Access Innovations, the world leader in indexing and making content findable.