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2016 Data Analytics Forecast: Top 5 Trends to Watch

  • 2016 Data Analytics Forecast: Top 5 Trends to Watch-

    Validation and Explanation

    Growing demand for validation and explanation

    Distinguishing real insights from false patterns requires a highly specialized set of skills, yet the U.S. alone faces a shortage of nearly 200,000 people with this expertise. While algorithms can certainly crunch the numbers, decision makers are hesitant to take action based on insight they don’t fully understand, and making decisions based on invalid or inaccurate analysis can lead to disastrous consequences. The shortage of data scientists coupled with the need for understanding will trigger increased demand for solutions that provide automated statistical validation and that dispense with the “black box” model to provide detailed explanation, bring clarity to analyses, and confirm the soundness of data patterns.

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2016 Data Analytics Forecast: Top 5 Trends to Watch

  • 1 | 2 | 3 | 4 | 5 | 6 | 7
  • 2016 Data Analytics Forecast: Top 5 Trends to Watch-3

    Validation and Explanation

    Growing demand for validation and explanation

    Distinguishing real insights from false patterns requires a highly specialized set of skills, yet the U.S. alone faces a shortage of nearly 200,000 people with this expertise. While algorithms can certainly crunch the numbers, decision makers are hesitant to take action based on insight they don’t fully understand, and making decisions based on invalid or inaccurate analysis can lead to disastrous consequences. The shortage of data scientists coupled with the need for understanding will trigger increased demand for solutions that provide automated statistical validation and that dispense with the “black box” model to provide detailed explanation, bring clarity to analyses, and confirm the soundness of data patterns.

Big Data has become a big deal for companies of all sizes. The rush to capitalize on business intelligence to gain a competitive edge has brought forth a bevy of new analytics products, solutions and services designed to help companies make sense of, and gain insight from, an ever-widening array of data. From consumer behavior to weather trends to disease propagation, data has become a competitive differentiator in helping both B2B and B2C companies forecast and make strategic decisions to increase revenue, reduce risk and spur growth.

In 2016, self-service analytics will take center stage, putting the power of advanced, statistically sound business analytics in the hands of business users for fast, simple and sophisticated decision-making. But, along with this move to bring analytics to every desktop, a number of other key trends will drive data analytics forward in the coming year. In this slideshow, BeyondCore has identified the top data analytic trends to watch in 2016.