Data and analytics are at the forefront for organizations across the business world today. Data driven decision making is now central to many critical business aspects, be it product strategy, market strategy, competitive analysis or operations. Data is no more a separate entity but is an intrinsic part of day-to-day operations of respected organizations.
Let us look at the top trends that are expected to drive the data world in 2022.
AI use cases in organizations will continue to evolve:
As Data Science becomes more mainstream, the opportunities for application of AI in organizations are increasing exponentially. Increasingly, AI is being used to infuse intelligence in systems. As AI becomes scalable and smarter, organizations are able to interpret huge amounts of data faster through machine learning and operationalized AI.
Organization culture needs to keep pace with data technologies:
While data technologies are fast evolving, the technology adaption will only give expected results if organizations transform to a data driven culture. Organizations have started to experiment with data democratization and citizen data scientists are experimenting with data assets to generate new and unique insights into the business. It is fair to say that data is transforming the culture of organizations.
Business outcomes focused data and analytics implementation:
Organizations are increasingly looking for data and analytics solutions that produce business outcomes. Enabling organizations for self-service driven data consumption and engagement and offering end to end solutions is going to be key for data providers.
Data as a service:
Organizations are increasingly looking to use both internal and third-party data sources for business impact. The time to insights is rapidly shrinking. Users expect their data and analytics efforts to start showing results in a matter of weeks. Custodians of data in a company are being compelled to respond to this huge demand by treating Data as a utility service and making trusted verifiable data available on demand.
Cloud – Multi cloud and hybrid cloud solutions:
With organizations adapting to digital transformation, they can leverage cloud infrastructure for their data needs. This enables organizations to process large amounts of structured and unstructured data at a fast pace without the need to invest huge amounts in infrastructure. Multi cloud and hybrid cloud solutions provide organizations with the necessary flexibility to extract value from data while ensuring necessary compliance and security.
Hybrid Workforce and Data:
The global pandemic forced organizations to adapt to a work from home model almost overnight and most organizations did a good job of it. While things are getting back on track, trends suggest that future workforce will be working in hybrid mode. This will present unique challenges and opportunities to organizations from employee retention, motivation, and productivity perspective. Data is going to be a key input for taking decisions and defining strategies for building the workforce of the future.
Industry and platform specific data solutions:
More and more, clients are demanding data solutions that address their pain points and requirements, instead of bouquet solutions. This means an increasing focus on developing industry specific and platform specific solutions.
Persistent’s focus in 2022:
We are excited by the tremendous opportunities that are present for us in the coming year. With our focus on developing account-based solutions and a partner driven model, we see ourselves in a great position to add value to our clients. We have always believed that business outcomes are the key and technology is an enabler for the same. Solution development for specific business problems and enabling fast deployment for customers will be our key focus areas in the coming year.
Data is being leveraged by many organizations over the last decade. In the coming years, clients are going to be extremely focused in terms of their expectation from data analytics and transformational business outcomes is the need of the hour. We expect data in 2022 is going to be about building a close collaboration between organizations, technologies, and people, with a sharp focus on business benefits.