Skip to main content

Augmented Analytics Turns Big Data into Smart Data

Smart Data is generated by filtering out the noise from Big Data that's generated by media, business transactions, Internet of Things (IoT), and data exhausts from online activity. Smart Data can uncover valuable commercial insights, by improving the efficiency and effectiveness of data analytics.

Furthermore, vast amounts of unstructured Big Data can be converted into Smart Data using enhanced data analytics tools that utilize artificial intelligence (AI) and machine learning (ML) algorithms.

Advancements in data processing tools and the adoption of next-generation technologies -- such as augmented analytics used to extract insights from Big Data -- are expected to drive the Smart Data market toward $31.5 billion by 2022.

Augmented Analytics Market Development

Augmented analytics automates data insights gathering and provides clearer information, which is not possible with traditional analysis tools. Companies such as Datameer, Xcalar, Incorta, and Bottlenose are already focusing on developing end-to-end Smart Data analytics solutions to obtain valuable insights from Big Data.

"Markets such as the US, the UK, India, and Dubai have rolled out several initiatives to use AI and ML-powered data analytics tools to generate actionable insights from open data,” said Naga Avinash, research analyst at Frost & Sullivan.

Smart Data will help businesses reduce the risk of data loss and improve a range of activities such as operations, product development, predictive maintenance, customer experience and innovation.

Frost & Sullivan’s recent worldwide market study uncovered key market developments, technologies used to convert big data to smart data, government programs, and the IT organizations applying data analytics. It also found use cases for smart data applications.

"The evolution of advanced data analytics tools and self-service analytics endows business users instead of just data scientists with the ability to conduct analyses," noted Avinash.

Technology developers can ensure much wider adoption of their solutions by offering in-built security mechanisms that can block attackers in real time. They could also develop new business models such as shared data economy and even sell data-based products or utilities.

Outlook for Augmented Analytics Application Growth

As an example of other application scenarios, various governments have already begun to use data analytics on 'open data' sets to solve issues related to smart city and municipal water crises. Other important growth opportunities for Smart Data solution providers include:

  • Employing augmented analytics and self-service data analytics tools, as they enable any business user to make queries, analyze data, and create customized reports and visualizations.
  • Leveraging a data monetization approach, as it allows businesses to utilize and bring value at every point in the data value chain.
  • Adding new data analytics services to existing offerings, driven by enterprise CIOs and CTOs.
  • Partnering with innovative Smart Data solutions providers (emerging startups) across the world. This will help companies enhance their implementation capabilities by leveraging open-source Smart Data solutions focused on enterprise data management and analytics.
  • Collaborating with the government to address the digital transformation talent shortage and setting clear investment and data strategy goals.

Popular posts from this blog

Digital Transformation Spending Reaches $1.8 Trillion

Ongoing investment in business technology will remain on track, despite concerns about the global economic outlook which continues to evolve in 2022. Enterprise CIOs and CTOs are focused on operational profitability and digital business growth goals that are enabled by strategic IT initiatives. Global spending on the Digital Transformation (DX) of business practices, products, and organizations is forecast to reach $1.8 trillion in 2022 -- that's an increase of 17.6 percent over 2021, according to the latest market study by International Data Corporation (IDC). Many anticipated DX investments will sustain this pace of growth throughout the 2021-2025 forecast period, with a five-year compound annual growth rate (CAGR) of 16.6 percent. Digital Transformation Global Market Development "IDC expects to see aggressive DX technology investment growth in 2022 following a minor slowdown during the pandemic period," said Craig Simpson, senior research manager at IDC . "As orga

Why Cloud-Native is The Future of IT Spending

The leading organizations that create a digital transformation plan will gain the most from their use of public cloud computing. However, some CIO and CTO leaders still struggle with how to build a modern cloud migration strategy. The worldwide cloud computing Infrastructure as a Service (IaaS) market grew 41.4 percent in 2021, to a total of $90.9 billion -- that's up from $64.3 billion in 2020, according to the latest market study by Gartner. "The IaaS market continues to grow unabated as cloud-native becomes the primary architecture for modern workloads," said Sid Nag, vice president and analyst at Gartner . Cloud IaaS Market Development Cloud supports the scalability and composability that advanced technologies and applications require, while also enabling enterprise leaders to address emerging needs such as sovereignty, data integration, and enhanced customer experience. In 2021, the top five IaaS providers accounted for over 80 percent of the market. Amazon AWS conti

Private 5G Networks and Enterprise Wi-Fi Converge

The global enterprise wireless networking market is evolving. Driven by a desire to take advantage of the available 6 GHz communications spectrum, with greatly improved broadband throughput and latency rates, more organizations may choose to adopt Wi-Fi 6E technologies. According to the latest worldwide market study by ABI Research, shipments of Wi-Fi 6E access points and routers will rise from 1.5 million units in 2022 to 5.2 million units by 2024. Wireless spectrum expansion is just one facet of the commercial wireless network market transition, as the technology of Wi-Fi customer premise equipment will be upgraded once again with Wi-Fi 7 (IEEE 802.11be standard) devices. Enterprise Wireless Network Market Development "The adoption of Wi-Fi 7 access points will accelerate following the protocols standardization in 2024, and just two years later, most 6 GHz enabled access point shipments will be supporting Wi-Fi 7," said Andrew Spivey, industry analyst at ABI Research . Anot