Why Automation is the key to your company’s Data Analytics strategyAdmin
Brands are focusing on Artificial Intelligence (AI) and automation of processes in response to the rapidly changing business environment and technological breakthroughs. As a result, automation and AI in Data Analytics are hot topics for companies everywhere.
Rapid technology developments in digitization, data, and analytics have reshaped the corporate environment, supercharging performance and allowing the rise of new company ideas and forms of competition.
These technologies amount to a quantum leap in technical capabilities that might have far-reaching repercussions for businesses everywhere.
Automation And Data Industry – What The Landscape Looks Like
The technique of employing computer systems and processes to conduct analytical tasks with little or no human interaction is automated data analytics. As a result, many businesses and dedicated data analytics companies benefit from automating their data analytics procedures.
A reporting pipeline, for example, that requires analysts to generate reports manually could instead be used to update an interactive dashboard automatically. Automation in data analytics is very effective when dealing with big data. It may be used for activities like data discovery, data preparation, data replication, and data warehouse management.
By 2023, the big data analytics industry is expected to be worth $103 billion according to Statista. Every day, Internet users create around 2.5 quintillion bytes of data. For example, Netflix saves $1 billion each year on subscriber retention by leveraging big data.
However, 95 percent of firms consider the requirement to manage unstructured data to be an issue according to Forbes. As a result, 97.2 percent of firms are investing in Big Data and artificial intelligence. Only those with the proper data type can effectively traverse the market, make future forecasts, and adjust their firm to market trends in our digitally fueled economy.
Unfortunately, the majority of the data we create today is unstructured, meaning it comes in various forms, sizes, and even shapes. As a result, it is difficult and costly to manage and evaluate, so it is a significant issue for most businesses.
Automated data analytics can make decisions on behalf of enterprise stakeholders and generate useful feedback mechanisms. An analytics system runs a study on data regularly and then uses the results to automatically improve business processes while adjusting study inputs or parameters in real-time.
Automation in data analytics can reveal insights that would otherwise be unavailable to a business. That advantage is why according to Analytics Insight, by 2025, 80% of companies will use intelligent automation. In addition, according to a recent survey, approximately 55% of financial institutions believe that robotic process automation (RPA) may help their firms increase process efficiency and improve service quality.
Even 40% of the retail industry has claimed that their companies are already implementing intelligent automation and AI in data analytics. Automation is growing to be a standard for data analytics in all industries with improving technology.
Advantages of Automation in Data Analytics
- Increase Your Productivity
Automation saves a significant amount of time and works in managing the data life cycle process. It eliminates the complexity of quickly monitoring changing variables and enables users to easily make sense of their data, spot minute abnormalities, uncover hidden patterns, and discover sophisticated insights.
- Reduced Costs
Data analytics automation leads to total corporate savings by saving employees time in data preparation, modeling, and analysis. A data analytics company can quickly expand its AI and data analytics efforts using SaaS-based AI platforms without making a significant investment in establishing and maintaining in-house AI capabilities.
- Faster Insights for Better Decisions
In a competitive market, time is of the essence in all aspects. Therefore, real-time data insights are critical for effectively launching new services or improving current businesses. In addition, users may gain real-time insights from raw data and take meaningful, lucrative actions by automating the whole data value chain.
- Increase Your Sales
Once you’ve identified your consumers, you want to provide them with exactly what they want at the right moment. For example, your existing data might be used to improve search results or to promote fantastic connected goods, giving your consumers the impression that their purchasing experience is personalized.
- Keep Ahead of the Competition
Most businesses are now so linked that even experts are baffled. AI has long dominated the stock market, and it is now on its way to taking over the rest. You’ll be able to follow trends in your business and with your consumers by using data-driven AI software.
What Makes E-Connect’s Process Automation Services Superior
E-Connect provides Digital Transformation Consulting and Strategy services to organizations to assist them in getting a competitive edge. E-Connect is a leading data engineering consulting firm specializing in strategy, technology, and business transformation. Their employees are motivated to create trustworthy, unique solutions and assist our clients in achieving their objectives.
E-Connect believes in the power of Connected Data, Architecture, and Experience to generate new ideas and improve company performance. Their years of expertise and technological abilities serve as the foundation for all they do and aid in developing new solutions and services.
E-Connect’s experts combine subject and technical expertise to assist with digitalization operations. In addition, they advocate for future architecture and help firms maximize the value of their current business and IT capabilities.
Furthermore, E-Connect’s Intelligent Process Automation (IPA) solutions make your operations smarter. They boost worker efficiency and whole business operations by automating regular activities. E-Connect’s solutions increase productivity by combining robotic process automation with machine learning and cognitive technologies to create intelligent operations.
So, contact our experts and experience the advantages of automation and AI in Data Analytics the right way!