Business Analysis starts with an analysis of the large volume of data. After initial collection and analysis, the decision making the responsibility with reference to the information at hand is a crucial task.
Remember data doesn’t lie and when a business analyst is able to compile and gain insights from loads of data, the insights derived are an output of robust business analytics software application implemented. For a business to follow this track consistently, the business analysts need to have qualifications in various areas and be aware of all the trends that the BI space brings every year.
The top 3 business analytics trends to be watched out are:
- Artificial Intelligence (AI): 2020 is declared as a year of AI adoption as its already a reality as 40% of the companies globally have some kind of AI automation in place. Those who have not considered will definitely realize its importance in 2020 when they see their competition move forward. AI is the most important trend to be aware of when it comes to business analytics.
- Automation of Human Tasks: As per Gartner report, 40% of all business analytics task will be done by machines without human interference. The demand for business analytics professionals is on a rise and there are limited skilled resources which are calling in for huge automation needs.
- Story Telling: Analysing the business data effectively that helps in apt decision making is the key to success of any organization. Telling the story behind the numbers backed with apt decisions is the need of the hour. Bringing out the story aptly behind numbers is the fast catching trend related to business analytics in 2020.
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