Data Analytics – from Analysis to Prediction

As we become more connected and our lives are shaped by digital experiences; social media, mobile platforms, cloud infrastructure and data analytics have become the core disruptors. Over the last couple of years, big data analytics technologies have played an increasing role in powering business decisions and business intelligence. The next few years are exciting for data and here are some things you should expect!

Connected Data Applications

It is necessary for modern apps and data to be connected through a platform. Such modern data applications are portable, modular and connected. These applications would replace traditional vertically integrated applications.

Data as a Product

Although it already is, data would have a value which can be monetized, would appreciate or diminish has any other product. A chunk of new age businesses especially startups is looking at monetizing data as an asset. In addition, businesses would be focusing on evolving the data processing and analytic models to provide the same level of agility as seen in software development today.

Pre-emptive Analytics

Analytics today is primarily post-event and helps in modifying or optimizing any similar future transactions. However, we are seeing a move to real-time or pre-emptive analytics now. This brings about transformative experiences to the user and can even help identify new revenue streams.

Real-time Machine Learning

Devices would be able to collaborate and analyze in real-time. Real-time ML algorithms in the core of modern data applications would be able to drive decision making and operational transactions in real-time. Machine learning would also be applied to a wider historical data stream in order to better understand the context of the newly arriving data stream.

New age digital CRMs like CRM4u leverage the ability of web components in generating data streams. These data streams help CRM4u in generating reports and may soon in future be parsed by advanced analytics engines for even greater insights.

• Written by Mansi Jain for RationalSelling