Data Analytics Trends To Dominate In 2021: Find Top Four

 The significance of data analytics has amplified more after the impact of COVID-19. In 2020, the whole world kind of gone digital with more data being produced than ever before, and thus, the importance of data analytics cannot be understated. In fact, the scenario is expected to expand in 2021.

To rightly implement it in your business, check out the trends first.

1.    Decision Intelligence

Survival of the fittest is true for businesses as well. The one which plans smart and decides well, sustains the longest. In this high-paced tough world, intelligent decision making is largely praised. Whatever a company does, there’s no doubt that they need to make good decisions if they are to survive in this corporate world.

Data science and machine learning contribute in this AI-based decision-making to improve their bottom line. As per the tech blog sites in India, it is a composite field where the concepts of AI, data-science, decision-making, and managerial science amalgamate. To be said simply, Decision Intelligence is a method that decision-makers like shareholders, corporate heads, etc. can use to obtain insights from their data and make the best decisions by leveraging those data.

Currently, around 33% of companies use this technology across all sectors.

2.    Data Stories

People today love visualization more than text-based presentations and simple reading. And it is no different when it comes to data analytics. At present, the field of data analytics uses a lot of visualization dashboards to communicate the data to decision-makers such as shareholders in a company. But as per the IT blog sites in India, simple visualization has today changed to data stories, which are becoming more popular with each passing day. 

Ask yourself – will you prefer a well-arranged dashboard of facts and figures about the data or a story that narrates the whole data journey for your company? Most of you will go for the later (i.e. data story), any day! Well, that’s the reason why data stories are so popular, especially for amateurs who don’t have domain-specific knowledge of data analytics.

3.    Edge Computing

Data provides the bread and butter for maximum companies. This data is produced in multiple different locations, and in most cases, the physical data storage devices for the cloud are located far away from where the data is generated. Transferring this data becomes a costly affair and leads to higher data latency. According to the tech blog sites in India, Edge Computing appears to be a perfect solution here!

Edge Computing ensures that the data storage and computational centres are closer to the edge of the topology where the data is produced or consumed. In anyway, it is a better alternative than having these storage centres in a central geographical location which is actually thousands of miles from the data being produced or used.

Edge Computing ensures that there is no latency in the data that can affect an application’s performance and also reduces the money lost in data transmission. And where there is reduction in the loss of money, that technology is sure to get popular.

4.    X-analytics

Even today, people understand tabular representation of data when it comes to data analytics. That what strikes the mind first is rows upon rows of numbers in a spreadsheet. However, there are several different forms of data in existence today, which are video, text, audio, etc.

As per the IT blog sites in India, companies that have a bright vision and want to move ahead of their competitors should utilize those other forms of data as well. This is called X analytics, which includes Video Analytics, Audio Analytics, Textual Analytics, and so on.

One common example of textual analytics is sentiment analytics, which allows the companies to analyze the general mood and sentiments of their consumers by studying the ratings and reviews. Another big example is Google video intelligence, which is useful in classifying and analyzing objects in videos.

Implementations are going to increase more in 2021.

Concluding statement

Although these concepts are not new – they are in existence for a few years, but only gained popularity in the recent times. The data analytics trends mentioned here are going to be all the rage in 2021, and beyond.