What Are The New Advancements In Data Analytics?

October 30, 2018
data analytics

 

Data analytics is a field which witnesses a continuous revolution. Since data is becoming increasingly valuable with each passing time, it has being now treated with great care and concern. To cope up with the constant changes in the industries and societies as a whole, new tools, techniques, theories and trends and always introduced in the data analytics sector. In this article, we will go through some of the latest data analytics opportunities which have come up in the industry.

The Intelligent Data Mesh

The intelligent data mesh has been termed as the next revolution in the field of healthcare and medical diagnostics systems in the coming years by the Garner Top 10 Strategic Technology Trends in 2018. The “Intelligent Data Mesh” has been described by Gartner as a meeting point of the physical and digital worlds where humans, machines, data and services have been entwined together into a mesh. The purpose of this is to gather the benefits offered by all these individual entities into a single unit to find solutions of complex issues which were thought to be insolvable till now. One of the major industry expected to benefit most from this system is the healthcare industry where Intelligent Data Mesh is being hailed as a game changer in enhancing patient care.

Blockchain

Blockchain continues to be an exciting technology even in 2018 and is expected to remain so for at least another decade. New advancements are being made almost every day regarding this technology as blockchain find wider uses in a variety of industries with the passage of time. It will not be wrong to describe blockchain as one of the greatest data analytics opportunities of the current time. The concept of blockchain started with the idea of a decentralized digital currency which came to be known as Bitcoin in the market. However, even though the controversy regarding the currency rose the concept of a decentralized and open source peer-to-peer modeled technology for storing and analyzing of data. The concept of blockchain is now applied in a wide range of industries with its use predicted to be keep on rising in near future.

Artificial Intelligence

Artificial intelligence is one such data analytics opportunity which is finding widespread adoption in all businesses and decision-making applications. As per Gartner 2018, as much as 41 percent of organizations have already adopted AI into some aspect of their functioning already while the rest 59 percent are striving hard to do the same. There is considerable research going on at present to incorporate artificial intelligence into the field of data science too. With data becoming larger and more complex with each passing minute, management of such data is getting out of manual capacities very soon. Scholars have therefore now turned to the use of AI for storing, handling, manipulating and managing larger chunks of data in a safe environment.

Augmented Reality

Augmented Reality is an interesting new technology coming up in recent years. As a source which facilitates the interaction between machine and humans in a unique manner, AR has the potential to be a game changer in the field of data sciences making it another top data analytics opportunity in the future. AR can provide for the development of simpler UIs for the man-machine interaction when merged with AI allowing the users to store and interact with data in a completely new manner. Imagine going to an island where all your data is stored in different treasure chests and you are provided with customized keys to access the chests with your data in it. These are the things which may be possible in future because of the use of AR in data analytics.

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