Everything in business today revolves around data.
Data enables organisations like yours to make more sound decisions, especially today when there are so many changes and uncertainties in the global marketplace. It is also through robust data that you’re able to deeply understand customers’ needs and provide them with the highest standards of service.
However, as data continues to gain further importance, new data and analytics trends will also keep emerging in the market.
Data and analytics will grow and evolve as more developments in technology arise.
So, to get the most out of your data and analytics, you need to understand what drives them in the present, as well as what can shape them in the future.
At Minerva, we have narrowed these trends into three that we predict will have the most impact on the ways businesses use data and analytics to supercharge success.
What are the main data and analytics trends to look out for in 2023?
Data and analytics have come a long way in the business world.
So, keeping up with the most recent data and analytics trends can help ensure that your company is always one step ahead of the competition.
To share some of our data insights, here is our list of the top data and analytics trends that we feel will matter most in 2023:
- Data science will become more significant
Given the massive amounts of data generated and collected each day, data science is foreseen to play a more vital role in the coming years. In fact, one study shows that the market for data science platforms is projected to grow to $322.9 USD billion in 2026!
Data science is an interdisciplinary field that leverages scientific processes, advanced analytics, algorithms, specialised programming, Machine Learning (ML) and Artificial Intelligence (AI) to uncover meaningful information, patterns and business intelligence hidden in your organisation’s diverse unstructured and structured data.
As data science involves complex and sophisticated processes like data acquisition, data warehousing, data cleansing, data processing, data staging, data clustering and data modelling, you need to have a reliable technology partner who can help you navigate your way through them.
At Minerva, we work with mid-to-large scale organisations in both an advisory and consulting capacity to improve current data warehouse and analytics standards. Our team of experts develop data strategies and roadmaps that are designed to scale and enable businesses like yours to perform at the highest level.
For more, see data warehouse and analytics services.
- Businesses demand a more seamless relationship between data sources
Data can be captured in various ways. It’s important then to integrate data sources together so as to enable users to access information seamlessly and easily in just a few clicks.
The more siloed and inaccessible your company data is, the slower your organisation can react, if at all.
To address this concern, many organisations are now looking for advanced data solutions – not just to integrate but also to manage, store and analyse data more effectively.
Fortunately, our team at Minerva understands that data drives decision-making.
We are ready to assist you in transforming your business by combining disparate data sources into a single source of truth.
For more, have a read of enterprise performance management services.
- The democratisation of data will continue to be prevalent
In 2023, more organisations are likely to focus more on educating and empowering their whole workforce about the effective optimisation of data and analytics. This way, company data can be used company-wide to make more informed decisions across all departments.
‘Data democratisation’ is an approach that enables all employees, regardless of their technical expertise, to confidently interact with data and make the most out of intelligent insights for better decision-making.
With data democratisation, even your non-technical staff will be able to gather, analyse and use data to accomplish goals, so your business can achieve higher productivity levels, cost savings and internal efficiencies in the process.
At Minerva, we enhance your digital ecosystem so that data is more readily available, secure and accurate for your teams.
To learn more, read why digital transformation is important for business.
Now that you’re aware of the top data and analytics trends, what comes next?
Knowing these data and analytics trends is just the first step.
To maximise returns from data usage, you need to consider innovating and implementing the right analytics technologies and data solutions to help your business achieve a competitive edge and drive success.
At Minerva, we make this digital transformation remarkably simple.
We support your Data & Analytics teams with Data Warehousing, BI, Data Science and Data Pipelines.
Our data technology specialists also devise robust data strategies and roadmaps to accelerate digitisation, all while ensuring that your data environment and digital ecosystem are built in a way that enhances your business’ ability to perform and scale.
Did you know that becoming an agile Data-Driven Business is much easier than you think? See our guide here.
Minerva can make your business dynamic and agile – faster
At Minerva, we provide you with the data analytics capabilities you need to be an agile data-driven business and shift your decision-making from reactive to proactive.
With Minerva’s business and technology expertise, you’ll get access to tools and solutions needed to effectively execute scenario planning and stay prepared for whatever the future may bring.
We can work together with your organisation to understand your goals and requirements, before providing you with the right systems and procedures that you need to get the most out of your data. As always, we help you make better business decisions and become truly better at what you do.
If you’d like to learn more about how Minerva can help your business, contact us on 1800 646 378 or email info@minerva.com.au.
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