Data has undoubtedly permeated every aspect of our modern life, from what we buy to the news we consume to fundamental truths we believe; data has become the bedrock of the modern decision-making process.
The data analytics landscape has evolved drastically over the past five years, with Big Data and IoT pushing the limits of what’s possible in data intelligence. But there’s more.
The 4th industrial revolution is upon us, a time where people will have more power than ever before to create change.
Large volumes of data are moving faster than ever before and the true value lies in being able to look at gigabytes of data and determine trends, at a glance. Using the right tools, you can pull real-time data from sources, to ingest, store, visualise, analyse and predict trends, an all-in-one intuitive and integrated interface.
Being Data intelligent can help save you time, avoid risk, reduce costs, maximise profit and create new opportunities. The future of data is endless, with Artificial Intelligence, powered by Machine Learning driving innovation, the opportunities are endless.
Data intelligence allows us to separate the signal from the noise, fact from fiction, and spot a fake from a distance.
Here are 5 fresh data intelligence trends driving Industry 4.0:
1. Machine Learning will Drive Next-Generation AI
AI will be a big factor in business strategy and business survival in the near future.
Organisations will need to adopt more innovative, more responsible, scalable AI processes and technologies in their businesses to keep up with competitors.
Improved interpretability and better accountability will help enterprises integrate AI into their products more smoothly.
2. Analytics as a Product
These days any business, regardless of industry, is a tech company.
They require talented data and analytics professionals to innovate and devise new ways to find and hire the people who will spearhead their data efforts — even as many are still scrambling to clear the rubble from the data science skills gap.
Working with a trusted data intelligence solution will be crucial for optimal performance.
3. Data is the Core System (New ERP)
Emerging data-driven business technologies and trends are transforming organisational intelligence.
The growth of the digital business has led to an explosion in the amount of data they capture and manage – a factor that has shifted the focus of many organisations from their traditional core systems towards data and analytics as their new core system.
4. MLOps as a Core Department
For any business in today’s world, precision is just as — if not more — important than efficiency. Companies, therefore, rely on automation at every step to achieve this precision, and technology has helped fuel much of the market in recent decades.
Once data is deployed into production, it requires ongoing monitoring, maintenance, and continuous improvement, which becomes the responsibility of the MLOps department.
5. The Augmented Consumer Takes a Stand
Consumers have come to expect that companies know basic information about them, that enables an improved customer experience, such as proposing the right product or service, at just the right time.
Like the way, YouTube recommends videos to you or leading eCommerce stores recommend products, Customers will come to expect that you deploy algorithms to better serve their needs.
Data Intelligence is the culmination of industrial revolution 4.0 technologies in order to be at the apex of strategic decision-making.
IoT, Big Data, Analytics, Machine Learning, and Artificial intelligence, and Data Automation combined to open up a world of opportunities that allow us to take the next leap forward in our post-industrial revolution economy.
By Andrew Bosma, Chief Technology Officer at OQLIS.