Rise of Augmented Analytics influencing Business intelligence

CIOReview Team | Monday, 25 March 2019, 10:17 IST

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business intelligence

Augmented analytics is the upcoming disruptive technology for deploying AI(Artificial Intelligence) techniques and ML to transform how the content of analytics is developed, consumed, and shared. And the amalgam of augmented analytics technology with machine learning (ML) and AI techniques shares intuitive information for businesses in a shorter time so that no market opportunities are lost. It is a boon to an organization, as it analyzes an organization’s exhaustive data combinations in order to point out which factors are truly influencing the outcome. It gives the actionable insights to propel up the business. Augmented analytics simplifies the data analysis process for organisations to gain significant insights into their data to strategize business decisions. It is rising to be the next big thing, and it is ready to provide real-time, insightful business intelligence to take enterprises to the next level of expansion.  

Data analysts are quite expensive to gain BI for small and medium-sized enterprises; as they gather, prepare, and clean up data which accounts for the productive hours of data analyst. This increases with the production of unwanted amount of big data that the world is producing every day. It is becoming critical to gain an in depth understanding of the technology trends and prioritize them based on business value. Businesses may risk losing their competitive advantage if they do not keep up with data and analytics trends. Augmented data management is followed closely with augmented analytics.  This management leverages on ML and AI to automate manual tasks that are repetitive which helps the experts to focus on higher value tasks.

By automating insight generation, augmented analytics relieves a company’s dependence on data analysts by using the advanced machine learning and artificial intelligence algorithms. Augmented Analytics can access an organisation’s data, clean, analyse and convert the insights into actionable intelligence for the marketers with a bit of technical supervision.  

Augmented analytics is an initiative in terms of digital transformation agenda for businesses. The technology is finding its growth and is yet to make its mark.

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