4
KEY TRENDS IN DATA ANALYTICS AND ARTIFICIAL INTELLIGENCE FOR 2021
As businesses face increasing complexity and instability in the market, data management and data-driven decision-making are becoming even more crucial for digital transformation success. Companies need to harness the unwieldy power of data to compete long-term.
Here are 4 trends to look out for in 2021.
Data Sources and Unstructured Data are Increasing
Embracing AI = Increased ROI
Data Monetization Will Create New Revenue Streams
Cloud Adoption Will Continue to Grow
What Can You Do?
IT departments struggle to manage and mine unstructured data, making it a challenge to extract actionable insights.
Artificial Intelligence, Machine Learning, and Robotics are here to stay. To leverage the full benefits of AI, start with educating your workforce about the power of using AI to improve day-to-day decision making, business outcomes and revenue potential.
Data doesn’t just support product sales; it can also be the product
you sell.
80%+
of enterprise data
is unstructured data, growing at a rate of
55 - 65%
per year.
Source: Datamation Newsletter
What is unstructured data?
What is unstructured data?
Over the next 3 years, investments in AI are expected to boost revenue by
30%+
Source: Accenture
Many companies are leveraging data monetization to ignite growth and establish a competitive advantage.
To drive revenue through monetization algorithms, Ticketmaster created one of the biggest datasets on customer behavior which is now sold as a part of their analytics program to help their venue customers understand consumer behavior.
Cloud technology will continue to evolve with industry leading performance, reliability, and security, leaving companies to focus on innovation and differentiation.
A well strategized cloud architecture can provide optimal data management costs, with the flexibility to scale with evolving business needs.
By 2022
public cloud services will be essential for
Source: Gartner
Educate your organization
Focus on data strategy
Create a culture built on data and transformation
Start an incubator to pilot and test new ideas and projects
Contracts, emails, mobile data,
business applications, transcripts of calls
RETURN TO TOP
90%
of data and analytics innovation.