With the arrival of the so-called Internet of Things (IoT), data and analytics are changing the way organizations and even entire industries operate. Before, management decisions were made mostly on 'gut feelings, whereas, 'today's business environment is entirely different.
Various subjective decisions such as product branding or the recruitment of a new employee are becoming more and more data-driven. Objective decisions, on the other hand, such as customer risk analysis or logistics planning, require more sophisticated analysis and more complex data that was mostly unavailable up until this point.
With that said, here are 23 predictions about data and analytics for the foreseeable future.
- By 2021, three-quarters of prebuilt reports will be completely replaced with automated insights delivered on a "most needed" basis.
- In 2017, only 4% of customer interactions were being influenced by real-time location analysis; that number will reach 30% by 2022.
- By 2022, every personalized interaction between apps and users will be adaptive.
- By 2023, AI and deep-learning will replace the traditional machine learning as the most common approach for new applications of data science.
- By 2024, there will be enough data scientists, to no longer hinder the adoption of these technologies within organizations.
- By 2022, cloud-based machine learning from the most significant providers such as Amazon, Google, and Microsoft, will reach a 20% share in the data science platform market.
- By 2020, BI platforms with augmented data discovery capabilities will have twice the adoption growth rate than platforms that don't.
- Over half of all D&A projects will include location data as a critical data source by 2023. It is up from a third in 2016.
- By 2022, 60% of D&A cloud vendors will only use third-party infrastructure as a service (IaaS) solutions.
- Vendor revenue growth from Apache Hadoop will drop to 25% in 2025, as compared to 68% in 2016.
- By 2020, AI will create 2.3 million new jobs while eliminating 1.8 million jobs.
- AI augmentation will be able to generate $2.9 trillion in business value, also restoring some 6.2 billion hours of worker productivity.
- By 2022, one in five workers employed in non-routine tasks will heavily rely on AI to help them in their work.
- In 2022, many cashier and operational jobs will be disrupted, but the multichannel retailer efforts to replace sales associates through AI will show itself to be unsuccessful.
- By 2020, around one in five citizens living in developing nations will be using AI assistants to help with everyday operational tasks.
- Some 40% of customer-facing employees will consult an AI assistant to help them in their decision-making process by 2022.
- A whopping 85% of CIOs will be piloting various AI programs through buy, build and outsourcing efforts.
- AI enterprise projects with built-in transparency will be twice as likely to get funding from CIOs.
- In 2020, counterfeit reality, or more commonly known as fake content, will outpace AIs ability to make the difference, leading to more digital distrust.
- By 2022, most people in developed economies will consume false information than correct information.
- Nearly a third of leading organizations will adopt infonomics by 2022, valuing their information assets and maintaining a balance sheet for internal use.
- By 2022, only 20% of organizations that are investing in information governance will succeed in scaling management for digital business.
- By 2022, over 50% of all D&A services will be performed by devices instead of people.
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