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2016 Data Analytics Forecast: Top 5 Trends to Watch

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

    Prescriptive Analytics

    Prescriptive becomes the new predictive.

    The true value of analytics can only be realized when the analysis points to what steps you should take to drive optimization and maximize ROI in the future. But, conventional predictive analytics tools are limited in that they only look back at historical data and forecast what they think will happen, leaving the question of “What do I do about it?” up to you. In the coming year, prescriptive analytics — recommended actions based on smart pattern discovery — will take the lead as companies look for more sophisticated analyses that help them drive change, optimization and ROI, instead of just an historical snapshot or a probable forecast.

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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-4

    Prescriptive Analytics

    Prescriptive becomes the new predictive.

    The true value of analytics can only be realized when the analysis points to what steps you should take to drive optimization and maximize ROI in the future. But, conventional predictive analytics tools are limited in that they only look back at historical data and forecast what they think will happen, leaving the question of “What do I do about it?” up to you. In the coming year, prescriptive analytics — recommended actions based on smart pattern discovery — will take the lead as companies look for more sophisticated analyses that help them drive change, optimization and ROI, instead of just an historical snapshot or a probable forecast.

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.