Learn how about the emerging role augmented analytics has to play in driving the analysis of consumer-driven data to help your business win more customers.
Augmented analytics is an emerging area, incorporating AI and machine learning, every business should incorporate in its decision-making process with customers. Business research firm Gartner, Inc. defines augmented analytics as “the use of enabling technologies such as machine learning and AI to assist with data preparation, insight generation, and insight explanation to augment how people explore and analyze data.” This allows firms to augment the analysis of data by what are known as “citizen data scientists” to better use data to improve and grow business services and product offerings.
Laith Pahlawan, owner of a managed IT services company in Orange County, CA shares 5 ways augmented analytics, identified as one of the top 10 technology trends in 2019, helps businesses improve the reality of the data they collect and convert it a valuable resource. These include:
- Automated data analysis
- Artificial intelligence modeling
- Business intelligence platform development
- Business data management
- User-specific app deployment
Automating the Analysis of Data
Companies, prior to the development of augmented analytics, used expert data scientists trained in advanced mathematics, probabilities, and statistics. These personnel, which is costly for many companies, provided the data science and machine learning needed to understand the complexity of “big data” being mined by the firm. With augmented analytics, the analysis of big data requiring tools developed by experts is simplified, prepared and generated into visualizations for further predictive analysis and insight in customer behavior.
Assists in the Development of Artificial Intelligence (AI) Models
AI permits computers to perform tasks that normally involved in human interaction. This includes such things as the ability to visualize data, recognize and translate speech, and be involved in some decision-making independent of human input. Augmented analytics furthers the role of artificial intelligence in the analysis of data, which, again, lowers reliance on more costly human units to perform the same tasks.
Supports the Creation of Business Intelligence (BI) Platforms
The power of augmented analytics is also found in its ability to organize and deliver information as well as create dashboards and reports. These few deliverables, brought to light through BI, integrate processes and delivers results across integrated platforms. This is accomplished through a ready-made and easy to learn infrastructure that is pre-built. Application teams your BI tools to quickly customize data and go to market with analytical results faster and efficiently.
Augments the Management of Important Business Data
AI modeling and BI platform creation move big data from concepts to reality. Augmented analytics, through AI and BI assistance, helps make data easier to understand, analyze and use. The simplification of the process, which would take the work of expert data scientists, is handed over to less experienced citizen data scientists. The augmentation of data aids in the management of information and allows businesses to focus on important data to make better use of it.
Assists in the Deployment of User-Specific Apps
Augmented analytics can move data outside of the realm of data scientists and those educated in advanced analytics and into the hands of other teams and departments. Applications can be developed that are easy to use and can be embedded in a firm’s enterprise applications. This allows integration among different departments (i.e. HR, customer service, sales, marketing, IT, etc.) and the creation of user-specific apps for optimizing data management.
The growth of augmented analytics and the development of less costly citizen data scientists, those individuals like industrial engineers and others with strong math and statistics skills, help businesses reduce their reliance on more costly, expert data scientists to break down and analyze data. Augmented analytics and its use of artificial intelligence and machine learning advances a business’s understanding of data rapidly and helps those who understand its value gain a competitive advantage in the marketplace.