Data analytics is one of the most important aspects of business today. It allows companies to understand and use the data they collect to improve their performance. As technology advances, so does data analytics, and as a result, there are several emerging trends that businesses should be aware of.
In this article, we will introduce you to the top emerging trends in data analytics and explain how they can benefit your brand.
The Growth of Big Data
Big data is a term used to describe the large amount of data that businesses can now access. Thanks to advances in technology, companies can now collect and store data on a scale that was previously impossible.
Tools such as Cloudera and Qubole allow businesses to quickly and easily process large amounts of data, making it possible to glean valuable insights that can improve business performance.
The Rise of Data Visualization
Data visualization is a way of representing data in a graphical format. This visual representation makes it easier for people to understand and make decisions based on data.
Data visualization tools such as Tableau and Datawrapper are becoming increasingly popular due to the insights they can provide. By making data more accessible and easy to understand, businesses can make better decisions that improve their bottom line.
The rise of artificial intelligence
Artificial intelligence (AI) is a branch of computer science that deals with the development of intelligent machines. AI technology is becoming increasingly sophisticated and can be used in various applications.
One of the most popular applications for AI is machine learning. Machine learning is a type of AI that allows computers to learn from data without being explicitly programmed. This technology is being used by businesses to automate tasks, improve decision-making, and gain a competitive edge.
The Growth of the Internet of Things
The Internet of Things (IoT) is a network of physical devices, vehicles, and home appliances that are connected to the internet. This network allows these devices to collect and exchange data.
Tools such as IBM Watson IoT Platform and Amazon AWS IoT allow businesses to take advantage of the IoT. By connecting devices and collecting data, businesses can gain insights into how they can improve their operations.
The Rise of Predictive Analytics
Predictive analytics is a type of data analysis that uses historical data to predict future events. This is one of the most popular emerging trends among businesses and can forecast sales, predict consumer behavior, and even identify potential risks and opportunities.
Predictive analytics tools such as IBM Watson Studio and SAP Predictive analytics offer businesses the ability to make better decisions by understanding their data. For example, a retail store could use predictive analytics to determine the best time to offer discounts or promotions based on past customer behavior.
The Rise of Blockchain Technology
Blockchain is a distributed database that allows multiple parties to store and share data securely. The technology is most commonly associated with the cryptocurrency Bitcoin.
However, blockchain has many other potential applications. For example, businesses use blockchain to streamline supply chains and track inventory. The IBM Blockchain is a platform that companies can use to develop and deploy blockchain applications.
The Growth of Cloud Computing
Cloud computing is a type of computing that allows businesses to access and use remote resources. This type of computing can be used to store data, run applications, and provide services.
Tools such as Zoho Analytics and Domo allow businesses to take advantage of cloud computing. Companies can save money on infrastructure costs and focus on their core competencies using the cloud.
About NetBase Quid
NetBase Quid is a leading provider of social media data and analytics. The company offers a suite of tools that businesses can use to gain insights into their customers, competitors, and markets. NetBase Quid’s services can help businesses understand emerging trends, make better decisions, and improve their bottom line.
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