According to Gartner, over the next five years, augmented analytics will be the hottest trend in business intelligence. Further, as per Hope Cycle for the Digital Workplace 2018, within the near future, the upcoming generation of data analytics will witness the dominant adoption of augmented analytics.
The ever-expanding amount of data makes data analysis an imperative constituent of business advancement. To beat the opposition in business, you have to remain updated with the changes in the business analytics. The expression “smart data discovery” was presented formally in 2017 and is dominant as an intense differentiator crosswise over businesses. To get clear comprehensions, most enterprises are currently concentrating on building models and putting together information for streamlining it and tasks automation. This has expanded the demand for skilled data scientists extensively in the market. Augmented analytics is the option for these data scientists that can iteratively play out the data-to-knowledge to-action activities like assembling the data, interpreting data examples and building models, and disseminating and operationalizing the data findings. This saves both time and assets utilized for getting important business insights from the data.
Gartner defines Augmented Analytics as “An approach that automates insights using machine learning and natural language generation.” Though some call it as a Smart Data Discovery, eventually, it fuses BI with AI for automating the process to find data, prepare it for analysis and generating insights. The traditional process of converting raw data into insights is basically a time-consuming process with numerous procedures.