Examining the emerging trends in business analytics with the help of artificial intelligence

In the age of big data analytics, business intelligence has witnessed a great revolution. The entire landscape of business intelligence has changed...

· 2 min read >

In the age of big data analytics, business intelligence has witnessed a great revolution. The entire landscape of business intelligence has changed on account of various technologies like artificial intelligence and machine learning. The process of data visualization has also rapidly transformed business intelligence. As such, we are now looking for professionals with a certification in business analytics so that the vision of business intelligence and analytics can be taken forward. A large number of trends are now emerging in the domain of business intelligence. Let us take a look at some of these.

An overview of emerging trends

The domain of business intelligence is concerned with data management and related insights. As such, real-time data processing, as well as data analytics, are becoming extremely important in the domain of business intelligence. Artificial intelligence is contributing to business intelligence in a number of ways ranging from strategic data management to data protection. In addition to this, data privacy and data security are also gaining significant traction in the present time. Data discovery processes that are critical for deciphering business information are also assuming prominence. Collaborative business intelligence, as well as creative business opportunities, are becoming extremely crucial in a time when the market dynamics are rapidly changing. Data automation is another trend that is slowly but steadily taking place in the present time. The tools related to predictive and prescriptive analytics are being utilized by new and emerging businesses to challenge the hegemony of existing businesses. Mobile business intelligence, as well as embedded analytics, are some of the other trends that are in the limelight.

What does AI mean to businesses?

Artificial intelligence may be a new technology for businesses but it presents future prospects as well as a roadmap through which businesses can thrive in the existing digital market. The Strategic Technology Trends report of Gartner predicts that artificial intelligence will boost revenues of companies by more than 70% in the next 3 years if this technology is harnessed appropriately. The businesses that operate in the present digital market are exposed to various attacks and threats due to which they incur losses that may halt their growth prospects. It is in this context that Artificial Intelligence can provide the necessary security shield for vulnerabilities that businesses are exposed to. In addition to this, artificial intelligence algorithms can help in anomaly detection that can also safeguard critical and sensitive data of a company.

By analyzing the historical data and previous trends, Artificial Intelligence can forecast growth prospects, highlight correlations between various variables, and provide state-of-the-art analytics to businesses so that they are able to script a successful growth story. Artificial intelligence also helps businesses with smart assistants and other software that aid in online data analysis, customer analytics, customer personalization, customer support as well as effective customer service.

Why is it critical for businesses to secure data?

Businesses that operate in the present digital market deal with critical and sensitive data of customers. This data is invariably the most critical asset that needs to be safeguarded by a particular business. By adhering to data security rules and privacy regulations, businesses can establish a framework for securing customer data. In addition to this, the vulnerable points in a business that can expose customer data to hackers need to be bridged at the earliest. There has to be an increased focus on the detection of various anomalies in the security architecture so that customer data protection becomes foolproof in nature.

In order to secure both our data and our business operations, it is important to invest in network and applications security. In a time when most of the business processes are being carried out in the cloud environs, it is also important to boost cloud security. Moreover, the aspects of identity access management, as well as integrated risk management, need to be taken care of in the long run. Infrastructure protection is another area that is vulnerable to attacks and can hurt our business operations if it is left unprotected. Other areas of digital security which need to be taken under consideration include customer security, information security as well as network equipment security.

Concluding remarks and the way ahead

In the present digital environment, it is important to keep up with the rapid market reforms and technological progress by harnessing the power of artificial intelligence, machine learning, Deep learning, cloud computing, and many other. Simultaneously, it is important to invest in data security services so that leeway is provided for the extension of the data market.

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