Augmented Analytics vs Business Intelligence

Today, enterprises are entering into a new era ruled by Augmented Analytics (AA), as it allows them to use sophisticated algorithms to gain insights into consumer behavior, use the real-time insights to identify trends and make informed decisions that give them an edge over their competitors who are still sticking to Business Intelligence (BI).

According to the research from the Gartner Report, by 2020, the number of users of modern BI and analytics platforms that are differentiated by augmented data discovery capabilities will grow at twice the rate – and deliver twice the business value, of those that are not.

WHY ENTERPRISES PRESSINGLY NEED TO SWITCH TO AUGMENTED ANALYTICS

• Dashboards aren’t sufficient.

   

  Businesses need AA tools that help digest all the data and deliver tailor-made insights. Prior to AA, leaders had to depend on incomplete and inconsistent data. Instead of just presenting insights, AA also generates options, that confronts issues like risk management, uncertainties, and problem solving. Machine Learning (ML) and Artificial Intelligence (AI) algorithms can predict a full probability distribution, presenting all possible options for the future, along with its specific probability. For example, a marketing manager needs to understand customer needs and align products and services to match these needs. AA will be able to provide reliable insight into buyer personas, hence making these methods ideal for predicting consumer behavior. 

                                                                                                                                                      

• There’s a shortage of experts.

   

  According to

   

  McKinsey

  , “there is a shortage of professionals with data analytical skills in the United States.” On top of that, there is a shortage of around 1.5 million analysts who are able to make informed decisions based on data. Employing data experts in every department within an organization is very important. However, even if a company can afford to do so, making timely decisions with data requires the right processing software. Augmented Analytics allows everyday working people within an organization to perform analytic tasks that would previously have required the expertise of a highly skilled data scientist through the advancements of tools and technology.

• Get Real-time insights. The astounding speed and rise of big data in the market makes it hard to make strategic decisions on time. With AA, real-time actionable insights are presented to all users and decisions makers, with the speed in which it scans, analyses, sorts, and presents data faster than ever.       

                                                                                                                                                                               

• To avoid data overload. Big data is multiplying at an unprecedented rate and can easily backlog the operations of any enterprise. By investing in AA, users will no longer spend extensive time exploring data, as they can now instantly act on the most relevant insights that are prepared and presented to them. AA can help companies break down data into manageable insights.

Want to learn more about why your company should acquire augmented analytics? Discover the power of Augmented Analytics and how it has already delivered significant productivity gains of 350% and customer satisfaction gains of 60% by downloading the Gartner report below.