There are many trends coming to the foreground of AI, machine learning, and business intelligence. This article will be talking briefly about some of these trends and why they are coming to light. A link to the in-depth report by Tableau can be found at the bottom of the page.
Do not Fear AI
Is AI the destructive force that will destroy all jobs and the world as we know it? The media and Hollywood have depicted AI as such, however this is not the case at all. At this point in time, machine learning and AI has become a daily tool in business intelligence. These tools are giving time back to their human Analyst counterparts. Analysts are using machine learning and AI software to better understand their company’s data in a more timely fashion.
Liberal Arts Impact on AI
In the upcoming months Liberal Arts will be playing a bigger role in the building of AI and machine learning software. Data scientists are realizing they not only need the data analyzed to be accurate but also tell a story that anyone can understand, including those without a technical background.
NLP (Natural Language Processing) Promise
NLP refers to the way we interact with the AI through the UI (user interface). Companies are beginning to want all level of employees to have access to the data provided by their AI software. The problem many of these companies face is that most of their employees do not have a technical background and no idea how to query a piece of data. This is where NLP comes into play; AI software can process queries in natural language instead of using specific codes. e.g. I want to know the Sales for Item “001” by day at Store “2045”
The move to multi-cloud storage is becoming an ever-increasing desire within big companies. Companies don’t want to be limited to one storage method that may not provide the best performance for their data needs. Though multi-cloud architecture has many benefits, it also has its costs, one of which being the actual overhead cost of running this type of multi-cloud environment.
Rise of the CDO (Chief Data Officer)
With understanding data and analytics becoming a core competency more and more companies are creating a position of CDO. This position allows them to join the C-suite with the CEO, CTO and CIO. This new position gives the CDO the ability to attend the C-level meetings and actually affect change within the company. Due to the creation of the CDO position, companies are showing just how important it is to understand their data and manage it successfully.
Crowdsourcing governance is a fancy term for allowing customers to shape who has access to specific data within a company using self-service analytics. It gets the right information into the right hands while keeping that same information out of the wrong hands.
Data is more valuable than ever. We have seen countless data breaches over the last few years and will most likely see many more. With customer data becoming so valuable we are going to see a rise in data insurance. This insurance will protect companies from being responsible for a breach of their customer data.
Data Engineering Roles
As data analysis software continues to grow in use and value we will see a rise in data engineering roles over the next several years. Data engineers will begin to transform from more architecture-centric roles to a more user-centric approach within their organizations.
Location of Things
“Location of things” is in connection to IoT (internet of things). We are seeing companies trying to capture location-based data from IoT devices. Gartner, predicts there will be 2.4 billion IoT devices online by 2020. The problem is that companies are trying to collect and compile all this location data within their internal data structures, while most of these structures are not capable of accepting that quantity of data. This is going to lead to great innovations for IoT data storage.
With data analytics growing in all industries the demand for future data scientists will continue to grow. Due to this high demand for data engineers and data scientists we will begin to see more and more universities offering some sort of academic training in these categories over the next several years.
Read the full report by Tableau Here: