5 Major Trends Driving Increased Focus In Business Data Analytics Today

Data Analytics

The field of Business Data Analytics has improved significantly over the last few years, providing businesses and organizations with better insights derived from data, particularly on how to drive business growth and in overall organizational decision making.

The explosion of data in the last decade is largely responsible for this major growth as enterprises are increasingly collecting more data than ever before. 

Digital data growth reaches new heights every year. The International Data Corporation (IDC) predicts the world’s collected data will surge to 175 Zettabytes by 2025. This largely goes to show the important role that data plays in the present economy of today and its future impact on the world’s economy. 

It is no wonder big data companies like Microsoft, Google and Amazon scavenge for data because the massive information generated and used for decision making in businesses today, fuels their booming business.

Consequently, there are plenty of opportunities for Business Data Analysts as well, and as we embark on a new decade, analyzing the current and future trends can throw light on the potential areas of value for businesses and reasons for the increased focus in Business Data Analytics today.

 

5 Top Data Trends

In this article, we would look at five top data trends in the world today, that have catalyzed the increased focus in business data analytics and influenced opportunities for business analyst professionals in the business data analytics space.

1. The Evolution of Analytic Tools and Methods.

The analytic tool space has evolved and such advances continue to change the way analytic professionals do their jobs and handle big data. Tools are becoming more powerful but also more business savvy and easier to use.

For instance, the evolution of visual point and click interfaces, analytic point solutions, open-source tools, and data visualization tools make it possible for analysts to process large sets of data that business stakeholders can actually look at the results of the data and do a mine through.

2. In-Demand Job Market

In today’s world, businesses increasingly rely on data to back their decisions – from the development of products to marketing and customer service. This advanced, detail-driven, and data-acclimatized atmosphere are beneficial to individuals who can master data analytics for business purposes. 

Organizations are increasingly looking for talented people that can work on analytics projects and this comes with highly competitive business data analytics salary opportunities.

3. Trends in Technology with A.I. Machine

Artificial intelligence and machine learning have been popular topics going into the new decade. From helping to combat COVID-19 to A.I analysis of business forecasts, it is evident that businesses are taking advantage of AI and machine learning. 

The trend to note here is a gradual movement away from passive reports or passive data on dashboards and it is allowing us to provide real-time updates and a very proactive approach to reporting.

4. Analytics no longer Just for Big Companies

Businesses are becoming increasingly competitive and by implication, there would be a need to continuously identify new trends, services, and products to grow their companies. Data analytics in this regard, help businesses by providing business owners with metrics for more informed decision-making that would help them run their business smoothly. 

So, because of the increase in technology, analytics is no longer only for big companies – whether you are a local neighborhood retailer or a large fortune 500 company, using data is critical to managing your business.

5. Data is Becoming Strategic

In recent times, the mandate of managing data by analysts has moved well beyond administrators and troubleshooters in managing and securing day-to-day transactions. This is why the need for business analysts in the data analytics sphere has grown because stakeholders want data to effect an obvious change in their businesses.

It is now about leveraging information from data to make strategic, operational, and tactical decisions that result in increased revenue, enhanced customer experience, and all-around business growth.

What Next?

It would be logical to say that data has a lot to offer, from supporting business decisions to suggesting them – and uncovering new product needs to data becoming a product itself. 

This is why Business Data Analytics has become so relevant because it involves a practical application of technology and statistical analysis of data in order to solve business problems.

The Certification in Business Data Analytics is an opportunity for business analysts as well as product owners, to be able to take advantage of the opportunities for them in the data analytics space.

At BNET Learning, we are ready to help you validate your expertise in business data analytics and take your career to astonishing new heights.

 

Contact the BNET Learning team by sending an email to info@bnetlearning.com or call 08074429193 for further information on this certification.

 

John Oghota

June 25, 2021

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