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CIOs should ensure that they know the top technology trends for 2023 for enterpriseAssociations have gone through a dramatic transformation, sped up by the real factors of the most recent two years. Chief information officers are confronting refocused essential drives that are moving away from addressing the requests connected with the pandemic. With the digital transformations that have bloomed in endeavors beginning around 2023, CIOs have turned into a vital piece of plans to manage a developing client base that is fundamentally more technically knowledgeable. Now is the time for these CIOs to evaluate their organizational priorities and focus on trends that can help maximize the growth and impact of their businesses. The 2023 trends poised to shape automation this year and beyond will focus on modernizing the variations of workspaces—remote, hybrid, and in-office.
Hybrid workplace enablement toolsThe benefit of the hybrid work model is that employees can choose to work wherever and whenever they please, meaning they can schedule time for learning and improvement more easily than if they were fully remote or office workers. Learning, training, and development don’t just happen inside training courses. As the impact of COVID-19 persists and hybrid work continues, new and better tools to enable the mixed environment may emerge and CIOs should keep a close on these tools.
The continuing data explosionPeople and businesses are generating more data than ever before. Organizations presently gather gigantic measures of buyer information from an assortment of sources. However, much of this data is not being tapped into, as it is locked away in unprocessed documents. Numerous associations are arriving at an intersection and should decide how to use each of their information to illuminate direction or face the gamble of falling behind their rivals. Automation and intelligent document processing (IDP) solutions can transform inaccessible, unstructured data into structured, actionable data to give companies the ability to glean more data-driven insights.
Widespread automation Smart space technologyThis will be augmented with smart space technologies that help in building intelligent physical spaces, such as manufacturing plants, retail stores, and sports stadiums. According to reports, 82 percent of IT leaders agree that implementing smart building technologies that benefit sustainability, decarbonization, and energy savings have become a top priority.
Collaborative data platformsThe ability to share data beyond organizational borders to create new insights is becoming increasingly important. The ability to create data ecosystems will be a top priority for enterprises in 2023. Secure, real-time cloud-based data exchanges, along with solution providers that enable collaboration based on data without the actual sharing of the granular data itself, are key enabling technologies here.
Blockchain applicationsThe enterprise use cases for open-source distributed databases and ledger technology are becoming clearer. The four most important uses cases cited by IT leaders according to the survey will be secure machine-to-machine interaction in the Internet of Things, shipment tracing and contactless digital transactions, keeping health and medical records secure in the cloud, and securing connecting parties within a specified ecosystem.
Generative AIThe world is abuzz with the promise of generative AI from natural-language generation models that can write computer code to algorithms that produce deepfakes. It’s not all hype. There are some meaty enterprise applications for generative AI, which is far more dynamic than the machine learning currently being used in most organizations.
Generative AI refers to the capability of artificial intelligence-enabled machines to use existing text, audio files, or images to create new content. In other words, it runs on algorithms that identify the underlying pattern of an input to generate similar plausible content.
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5 Healthcare Technology Trends To Watch At Himss 2023
Advocates. Superheroes. Defenders. Challengers. Guardians. If you work in healthcare and healthcare IT, are these the words you use to describe yourself? This year at Healthcare Information and Management Systems Society (HIMSS) 2023, organizers are encouraging the champions of healthcare to unite, drawing on heroic imagery as the theme of the conference. Conference leaders make the case that, yes, healthcare technology can be disruptive, paradigm-busting and bewildering — but ask providers to look past all that and accept the mission of superheroes: “Advance the safety, efficiency and quality of care, outcomes, health, and well-being for us all.” So much is happening where healthcare and technology intersect that it will require champions and superheroes to chart the path forward. Disruption, change and innovation are topics for the conference keynote sessions. These are exciting times in healthcare, and HIMSS 2023 aims to unite the champions of health to navigate these emerging trends. Whether you are attending HIMSS in person or joining the conversation on social media, follow these five trends during this year’s conference.
Nurse Communications Go MobilePerhaps no single group drives quality care like nursing staff. Nurses require the most up-to-date information to successfully manage patient care. They also play a critical role as conduit between patients and physicians. Mobile devices such as smartphones and tablets provide an ideal communications platform, but many hospitals are still relying on legacy technologies like pagers or comms badges. Smartphones and fully integrated clinical communications apps make the jobs of healthcare workers easier and result in higher quality care. Showcasing its solution at HIMSS, TigerConnect provides real-time communications software specifically for healthcare. The company’s platform provides a centralized solution to track patient status changes, expedite lab requests and results, speed up patient discharge and track the speed and logistics of therapies.
Cardiac ManagementIn the U.S., one in four deaths is attributable to cardiac disease, according to the CDC. Once a patient presents with a cardiac condition, regular monitoring and physician visits become standard. To more closely monitor these patients, some healthcare providers turn to remote monitoring using mobile devices as one option to manage and treat heart disease.
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New Approaches to Cognitive Skills Assessment Vision Enhancement InnovationsAccording to the National Foundation for the Blind, vision loss affects more than 25 million adult Americans. A number of innovative companies will be showcasing technology at HIMSS that helps enhance the lives of people with low vision. IrisVision has created an FDA registered Class-I medical device that works as a low vision aid. This tool pairs virtual reality technology from Samsung with software developed in collaboration with leading health experts. Another Samsung partner, Aira, offers a service that remotely connects blind and low-vision people with a professional agent via a smartphone app or their Horizon Smart Glasses paired with a Samsung Galaxy smartphone.
Remote Patient MonitoringEvery year, increasingly sophisticated telehealth devices enter the market. Remotely tracking, gathering and analyzing patient data allows care teams to spot potential problems with patients earlier than they could previously. With information delivered remotely, healthcare providers can interact with patients to modify care plans and intervene to head off the need for a hospital readmission. Remote patient monitoring solutions from companies like Ideal Life simplify the way patients, doctors and caregivers track, monitor and manage health conditions. Patients can engage without touching a computer. Doctors and nurses only need access to a web browser to analyze and retrieve patient information. If you’re attending HIMSS, drop by the Samsung Lounge in Room #224 H to see these innovative solutions and take a break from the expo floor.
Wearable Technology Statistics And Trends 2023
What can we expect from the wearables market in 2023? These are the top wearable statistics to inform your 2023 technology and media innovations strategy
Download Business Resource – Marketing Technology and Media Innovations guide
The guide outlines 6 of the most important new technologies marketers should consider when planning for future investment in customer-facing marketing experiences and communications to encourage brand engagement and purchase. At the start of the guide, we also explain different planning techniques that will help you take the right strategic decisions when evaluating new technology investments.
Access the Marketing technology and media innovation guide
Which marketing trend will be most important to you and your business in 2023?We have asked this question over the past few years and it’s been really interesting to see what ‘rocks your digital world’ since there are some common themes amongst the top 3 and some activities surprisingly low. The question we asked was around the most important commercial trends. We had around 850 votes from marketers in different types of business from around the world. Only 2% of respondents answered that wearables will have the largest commercial impact on their business in 2023. Respondents preferred to focus on content marketing and big data – overlooking the potential that wearable technology can achieve.
Top 10 stats from 2023 to inform your marketing strategy for 2023
The worldwide wearables market reached a new all-time high as shipments reached 33.9 million units in the fourth quarter of 2023 (4Q16), growing 16.9% year over year (Buisness Wire, 2023)
Tractica also forecasts an increase of the wearables devices until 2023, with total shipments for all wearable devices to 560 million in 2023, which means an estimated device revenue of $95.3 billion in 2023 (wearable technologies, 2023)
Its forecast projects sales of 310.4M wearable devices worldwide this year, generating a total of $30.5BN in revenue — of which it expects $9.3BN to come from the smartwatch category specifically (Techcrunch, 2023)
By 2023, Gartner estimates that sales of smartwatches will total nearly 81M units — representing 16% of total wearable device sales, according to its forecast (Techcrunch, 2023)
The market for wearable technology will reach accelerated growth with a yearly growth of 23 percent through to over $100bn by 2023 and, reach over $150bn by 2026 (IDTechEx, 2023)
102.4 million wearable devices were sold in 2023, a 25% increase over the year before, growth that was driven primarily by higher sales for Xiaomi and other budget wearables makers (Relate, 2023)
Just under 50 million wearable devices were shipped in in 2023 and over 125 million units are expected to ship in 2023 (Forbes, 2023)
By 2023, smart eyewear will account for 40% of total revenue of the wearables market (i-scoop, 2023)
This vibrant market is expected to grow in value from just over $10 billion in 2023 to almost $17 billion by 2023 (wearable technologies, 2023)
Key trends to watch out for in 2023? More wearable devicesAs more money is spent on wearable devices and consumers start to adapt there will be an increase in the range of devices available to consumers. The range available will increase to different ranges, body parts and needs. According to i-scoop wearable technologies will shift to new markets and areas of the human body by 2026 (i-scoop, 2023). This year we have seen Fitbit, Alexa, Google home and Apple Watch 2 take off, people are increasingly using them more as part of their everyday lives.
Reshaping healthcare New data for retailers Fitness tech will continue to growThe boom in wearable technology has been mainly fueled by fitness, such as wearable gadgets’ that monitor your heart rate or track your exercise. These gadgets have been successful because they are helpful to the user and easy to integrate into everyday life. According to IDC, the market’s growth will be fuelled almost exclusively by smartwatches and wrist-worn fitness trackers. Having tech on your wrist, the smartwatch allows for precise data to be collected about the user. This is likely to radically impact the retail experience as hyper-personalized offerings become commonplace.
What does this mean for marketers?Although wearables might not have fully taken off this doesn’t mean that wearables are dead. Some business maybe seeing significant success – especially those in the health and fitness sector.
But if you have been unsure of the transition to wearables brand should be doing something with wearables maybe start thinking about whether or not you have the tools, tactics, and support in places to be successful in this industry.
You also need to ensure you use cross-platform marketing. As technology evolves, it would be foolish to focus all your marketing efforts one single technology. embrace the new and look to adapt and change in the future. TechCrunch reported ‘Current low adoption by mainstream consumers shows that the market is still in its infancy, not that it lacks longer-term potential’.
If you are unsure how to prioritize marketing investments in innovative marketing technology use our marketing technology and media innovations guide to help you make informed decisions for 2023. It works through planning frameworks to will help your business think strategically and make the right decisions about how to invest. The guide also outlines the key technologies marketers need to consider when planning for the future.
Download Business Resource – Marketing Technology and Media Innovations guide
The guide outlines 6 of the most important new technologies marketers should consider when planning for future investment in customer-facing marketing experiences and communications to encourage brand engagement and purchase. At the start of the guide, we also explain different planning techniques that will help you take the right strategic decisions when evaluating new technology investments.
Access the Marketing technology and media innovation guide
5 Digital Trends To Watch Out For In 2023
Every year brings with it new opportunities for digital success, and in this post, you will see my digital movers and shakers watch list for 2023.
The focus has been on the top search marketing and digital trends to keep a look out for so you can consider adding them into your marketing mix more effectively (or for the first time) as we move further into 2023.
Social Media Slows but Will Continue to GrowI feel like I am cheating slightly by adding this in, however, when looking at the dominant, unstoppable forces for 2023, I cannot omit social media. With new social media platforms entering the market and existing channels continuing to grow, this social media take over is far from over, although I expect the channel specific growth to slow somewhat.
Search Engine Journal’s Aki Libo-on wrote about this social media growth infographic that covers everything from active users and annual growth, through to user demographics and platform stats. Here’s a snippet from the infographic:
According to a recent report from Our Social Times:
Over a nine month period, the growth of Instagram far exceeded that of other social media platforms, including a growth spurt (between March and December 2014) where it surpassed the 300 million user mark and expanded its audience by approximately 50 percent
Facebook, surprisingly, had more video views in a single month that YouTube from desktops, however, the change in the Facebook video ‘auto play’ functionality likely had a direct impact on that
Snapchat is one of the fastest growing social media and messaging apps with six monthly growth in 2014 exceeding that of Facebook Messenger, Instagram, Pinterest, Vine, and many other alternatives
Low-Cost Marketing Will Expand—It’s Not All About EmailsWhen you think of low-cost marketing the first item that often springs to mind is email marketing. By 2023, I would imagine that a vast majority of businesses have trialed incorporating emails for newsletters, company updates, industry changes, promotions, exciting news and more. By comparison, a fewer percentage will have expanded this low-cost marketing scope to incorporate items like text marketing (also known as SMS marketing and mobile marketing), but there is a growing trend.
According to UK SMS providers, Textlocal’s M-Commerce’ white paper, a company who I work with,:
Almost 4 million men and women in the UK are keen to hear from retailers by text at least once per month.
When you begin to broaden the types of low-cost marketing and expand the areas within the marketing mix that to employ, you will be surprised by the responses gained, even from the same distribution lists. One of the factors for this is that people digest communication differently, so acknowledging that in the diversity of approaches to your target audience will improve key performance metrics like open rates, response rates, and more.
Digital Marketing Will Become Even More Integrated in 2023When you have distinct search marketing and digital expertise collaboratively working, you will be able to mitigate most of the drawbacks of one marketing channel with the benefits of another. From initial objective setting and strategy creation, through to identification of key results, metrics for defining success, and ultimately actions completed – many more businesses will be investing in integrated search marketing as 2023 progresses.
Below you can see an example of a digital integrated working model:
To support effective integrated working, companies will become more creative in their delivery approaches including internal staff interaction, as well as the working relationships with external service providers, changing the historical outsourcing approach to increase the external team mentality.
Omni-channel marketing (really another means to describe multi-channel marketing) was a quickly growing buzzword in 2023 (starting its growth in late 2013), and the trend is set to continue globally in 2023, too. Here is an example of what this trend looks like (you can see the Google Trend here):
Mobile Will be Included in Every Marketing StrategyThe growth of mobile search has been well documented and a recent study from Smart Insights tells us that this trend is going to remain active for some time to come. Mobile device targeting is not a new trend, but many businesses have not yet embraced it fully, or focused on the mobile opportunity enough to see it reach anywhere near its true ROI potential. A few key points from this recent study include the following.
Global mobile device users: Mobile users exceed desktop users on a global scale, this means that the opportunity to generate business value from effective mobile marketing has never been greater than it is right now. An increasing number of marketers are changing their approach to reflect this, and I see this continuing to build some momentum through 2023. There is some suggested plateauing of this, but I do not see 2023 being the time-frame in which this comes to fruition.
Internet access types: People are spending the majority of their daily internet viewing time using mobile devices, in fact, 51% of the total time spent in 2023 was with mobile phones and devices. When you consider the often intermittent mobile internet access (consider items like walking to and from locations, periods of working day downtime (breaks, etc.) and often quick internet access actions between tasks) this will shape many marketing approaches based on this and other behavioral identification too.
Data: It’s Getting Bigger and it’s Real TimeWhen looking at digital industry trends and key movers and shakers influencing approaches to service delivery, you cannot overlook the role of big data and real-time data. Marketers have access to more information than at any other stage of human existence, and the challenge for successful digital marketing in 2023 and beyond is making meaning from all this data.
Data fuels everything from content creation and insights, through to reporting and strategy refinement. If you are making any digital decisions without data, you are likely overlooking a wealth of extra opportunity.
Here’s an example of a deep data platform in action. This is the Apollo Insights platform with information from the agency I work for, Vertical Leap. The screenshot demonstrates agile dashboard functionality, pulling in unique data sets for generating insights from information:
What’s Next?The digital industry is always moving at a fast pace, and perhaps it is the speed of change that is the main constant.
While I am confident in my predictions for 2023 digital trends to watch out for, I am aware that there is so much more that can be added to my list. On this point, I would love to hear what you think about my predictions for digital trend movers and shakers in 2023, as well as your own predictions.
Looking forward to hearing your thoughts and feedback.
Image Credits
In-post Photo #3: Image by Lee Wilson
Top 10 Key Ai And Data Analytics Trends For 2023
Transacting has changed dramatically due to the global pandemic. E-commerce, cloud computing and enhanced cybersecurity measures are all part of the global trend assessment for data analysis.
Businesses have always had to consider how to manage risk and keep costs low. Any company that wants to be competitive must have access to machine learning technology that can effectively analyze data.
Why trends are important for model creators?The industry’s top data analysis trends for 2023 should give our creators an idea of where it is headed.
Creators can make their work more valuable by staying on top of data science trends and adapting their models to current standards. These data analysis trends can inspire you to create new models or update existing ones.
AI is the creator economy: Think Airbnb for AI artifactsSimilar to the trend in computer gaming where user-generated content (UGC), was monetized as a part of gaming platforms, so we expect similar monetization in data science. These models include simple ones like classification, regression, and clustering.
They are then repurposed and uploaded onto dedicated platforms. These models are then available to business users worldwide who wish to automate their everyday business processes and data.
These will quickly be followed by deep-model artifacts such as convents and GAN’s and autoencoders which are tuned to solve business problems. These models are intended to be used by commercial analysts and not teams of data scientists.
It is not unusual for data scientists to sell their expertise and experience through consulting gigs or by uploading models into code repositories.
These skills will be monetized through two-sided marketplaces in 2023, which allow a single model to access a global marketplace.
For AI, think Airbnb.
The future of environmental AI is now in your mindWhile most research is focused on pushing the limits of complexity, it is clear that complex models and training can have a significant impact on the environment.
Data centers are predicted to account for 15% of global CO2 emissions in 2040. A 2023 paper entitled “Energy considerations For Deep Learning” found that the training of a natural language translator model produced CO2 levels equal to four-family cars. It is clear that the more training you receive, the more CO2 you release.
Organizations are looking for ways to reduce their carbon footprint, as they have a better understanding of the environmental impact.
While AI can be used to improve the efficiency of data centers, it is expected that there will be more interest in simple models for specific problems.
In reality, why would we need a 10-layer convolutional neural net when a simple Bayesian model can perform equally well and requires significantly less data, training, or compute power?
As environmental AI creators strive to build simple, cost-effective models that are usable and efficient, “Model Efficiency” will be a common term.
Hyper-parameterized models become the superyachts of big techThe number of parameters in the largest models has increased from 94M parameters in 2023 to an astonishing 1.6 Trillion in 2023 in just three years. This is because Google, Facebook, and Microsoft push the limits of complexity.
These trillions of parameters can be language-based today, which allows data scientists to create models that understand language in detail.
This allows models to write articles, reports, and translations at a human level. They are able to write code, create recipes, and understand irony and sarcasm in context.
Vision models that are capable of recognizing images with minimal data will be able to deliver similar human-level performance in 2023 and beyond. You can show a toddler chocolate bar once and they will recognize it every time they see it.
These models are being used by creators to address specific needs. Dungeon. AI is a games developer who has created a series of fantasy games that are based on the 1970’s Dungeons and Dragons craze.
These realistic worlds were created using the GPT-3 175 billion parameter model. As models are used to understand legal text, write copy campaigns or categorize images and video into certain groups, we expect to see more of these activities from creators.
Top 10 Key AI and Data Analytics Trends 1. A digitally enhanced workforce of co-workersBusinesses around the globe are increasingly adopting cognitive technologies and machine-learning models. The days of ineffective admin and assigning tedious tasks to employees are rapidly disappearing.
Businesses are now opting to use an augmented workforce model, which sees humans and robotics working together. This technological breakthrough makes it easier for work to be scaled and prioritized, allowing humans to concentrate on the customer first.
While creating an augmented workforce is definitely something creators should keep track of, it is difficult to deploy the right AI and deal with the teething issues that come along with automation.
Moreover, workers are reluctant to join the automation bandwagon when they see statistics that predict that robots will replace one-third of all jobs by 2025.
While these concerns may be valid to a certain extent, there is a well-founded belief machine learning and automation will only improve the lives of employees by allowing them to take crucial decisions faster and more confidently.
An augmented workforce, despite its potential downsides, allows individuals to spend more time on customer care and quality assurance while simultaneously solving complex business issues as they arise.
Also read: The Five Best Free Cattle Record Keeping Apps & Software For Farmers/Ranchers/Cattle Owners
2. Increased CybersecuritySince most businesses were forced to invest in increased online presence due to the pandemics, cybersecurity is one of the top data analysis trends going into 2023.
One cyber-attack can cause a company to go out of business. But how can companies avoid being entangled in a costly and time-consuming process that could lead to a complete failure? This burning question can be answered by excellent modeling and a dedication to understanding risk.
AI’s ability analyzes data quickly and accurately makes it possible to increase risk modeling and threat perception.
Machine learning models are able to process data quickly and provide insights that help keep threats under control. IBM’s analysis of AI in cybersecurity shows that this technology can gather insights about everything, from malicious files to unfavorable addresses.
This allows businesses to respond to security threats up to 60 percent faster. Businesses should not overlook investing in cybersecurity modeling, as the average cost savings from containing a breach amounts to $1.12 million.
Also read: 10 Best Chrome Extensions For 2023
3. Low-code and no-code AIBecause there are so few data scientists on the global scene, it is important that non-experts can create useful applications using predefined components. This makes low-code or no-code AI one the most democratic trends in the industry.
This approach to AI is essentially very simple and requires no programming. It allows anyone to “tailor applications according to their needs using simple building blocks.”
Recent trends show that the job market for data scientists and engineers is extremely favorable.
LinkedIn’s new job report claims that around 150,000,000 global tech jobs will be created within the next five years. This is not news, considering that AI is a key factor in businesses’ ability to stay relevant.
The current environment is not able to meet the demand for AI-related services. Furthermore, more than 60% of AI’s best talent is being nabbed in the finance and technology sectors. This leaves few opportunities for employees to be available in other industries.
Also read: 10 Best Android Development Tools that Every Developer should know
4. The Rise of the CloudCloud computing has been a key trend in data analysis since the pandemic. Businesses around the globe have quickly adopted the cloud to share and manage digital services, as they now have more data than ever before.
Machine learning platforms increase data bandwidth requirements, but the rise in the cloud makes it possible for companies to do work faster and with greater visibility.
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5. Small Data and Scalable AIThe ability to build scalable AI from large datasets has never been more crucial as the world becomes more connected.
While big data is essential for building effective AI models, small data can add value to customer analysis. While big data is still valuable, it’s nearly impossible to identify meaningful trends in large datasets.
Small data, as you might guess from its name contains a limited number of data types. They contain enough information to measure patterns, but not too much to overwhelm companies.
Marketers can use small data to gain insights from specific cases and then translate these findings into higher sales by personalization.
6. Improved Data ProvenanceBoris Glavic defines data provenance as “information about data’s origin and creation process.” Data provenance is one trend in data science that helps to keep data reliable.
Poor data management and forecasting errors can have a devastating impact on businesses. However, improvements in machine learning models have made this a less common problem.
Also read: Best Online Courses to get highest paid in 2023
7. Migration to Python and ToolsPython, a high-level programming language with a simple syntax and language, is revolutionizing the tech industry by providing a more user-friendly way to code.
While R will not disappear from data science any time soon, Python can be used by global businesses because it places a high value on logical code and understandability. Python, unlike R, is primarily used for statistical computing.
However, it can be easily deployed for machine learning because it analyzes and collects data at a deeper level than R.
The use of Python in scalable production environments can give data analysts an edge in the industry. This trend in data science should not be overlooked by budding creators.
8. Deep Learning and AutomationDeep learning is closely related to machine learning, but its algorithms are inspired from the neural pathways of the human brain. This technology is beneficial for businesses as it allows them to make accurate predictions and create useful models that are easy to understand.
Deep learning may not be appropriate for all industries, but the neural networks in this subfield allow for automation and high levels of analysis without any human intervention.
Also read: Top 10 Business Intelligence Tools of 2023
9. Real-time dataReal-time data is also one of the most important data analysis trends. It eliminates the cost associated with traditional, on-premises reporting.
10. Moving beyond DataOps to XOpsManual processing is no longer an option with so many data at our disposal in modern times.
DataOps can be efficient in gathering and assessing data. However, XOps will become a major trend in data analytics for next year. Gartner supports this assertion by stating that XOps is an efficient way to combine different data processes to create a cutting-edge approach in data science.
DataOps may be a term you are familiar with, but if this is a new term to you, we will explain it.
Salt Project’s data management experts say that XOps is a “catch all, umbrella term” to describe the generalized operations and responsibilities of all IT disciplines.
This encompasses DataOps and MLOps as well as ModelOps and AIOps. It provides a multi-pronged approach to boost efficiency and automation and reduce development cycles in many industries.
Also read: How to Start An E-commerce Business From Scratch in 2023
What are the key trends in data analysis for the future?Data science trends for 2023 look amazing and show that businesses are more valuable than ever with accurate and easily digestible data.
Data analysis trends will not be static, however, because the volume of data available to businesses keeps growing, so data analysis trends will never stop evolving. It is therefore difficult to find effective data processing methods that work across all industries.
Top 10 Big Data Analytics Trends And Predictions For 2023
These trends in big data will prepare you for the future.
Big data and analytics (BDA) is a crucial resource for public and private enterprises nowadays, as well as for healthcare institutions in battling the COVID-19 pandemic. Thanks in large part to the evolution of cloud software, organizations can now track and analyze volumes of business data in real-time and make the necessary adjustments to their business processes accordingly.
AI will continue to improve, but humans will remain crucialEarlier this year, Gartner® stated “Smarter, more responsible, scalable AI will enable better learning algorithms, interpretable systems and shorter time to value. Organizations will begin to require a lot more from AI systems, and they’ll need to figure out how to scale the technologies — something that up to this point has been challenging.” While AI is likely to continue to develop, we aren’t yet near the point where it can do what humans can. Organizations will still need data analytics tools that empower their people to spot anomalies and threats in an efficient manner.
Business intelligence adoption will grow in technology, business services, consumer services, and manufacturingAccording to Dresner’s business intelligence market study 2023, organizations in the technology, business services, consumer services, and manufacturing industries are reporting the highest increases in planned adoption of business intelligence tools in 2023.
Predictive analytics is on the riseOrganizations are using predictive analytics to forecast potential future trends. According to a report published by Facts & Factors, the global predictive analytics market is growing at a CAGR of around 24.5% and is expected to reach $22.1 billion by the end of 2026.
Cloud-native analytics solutions will be necessary Self-service analytics will become even more critical to business intelligenceThe demand for more fact-based daily decision-making is driving companies to seek self-service data analytics solutions. Jim Ericson, research director at Dresner Advisory Services, recently observed, “Organizations that are more successful with BI are universally more likely to use self-service BI capabilities including collaboration and governance features included in BI tools.” In 2023, more companies will adopt truly self-service tools that allow non-technical business users to securely access and glean insights from data.
The global business intelligence market will be valued at $30.9 billion by 2023According to research by Beroe, Inc., a leading provider of procurement intelligence, the global business intelligence market is estimated to reach $30.9 billion by 2023. and key drivers include big data analytics, demand for data-as-a-service, demand for personalized, self-servicing BI capabilities.
60% of organizations report company culture as being their biggest obstacle to success with business intelligenceDresner’s business intelligence market study 2023 revealed that the most significant obstacle to success with business intelligence is “a culture that doesn’t fully understand or value fact-based decision-making.” 60% of respondents reported this factor as most damaging.
Retail/wholesale, financial services, and technology organizations are increasing their BI budgets by over 50% in 2023Retail/wholesale, financial services, and technology organizations are the top industries increasing their investment in business intelligence. Each of these industries is planning to increase budgets for business intelligence by over 50%, according to Dresner’s business intelligence market study 2023.
63% of companies say that improved efficiency is the top benefit of data analytics, while 57% say more effective decision-makingFinances online report that organizations identify improved efficiency and more effective decision-making as the top two benefits of using data analytics.
The global big data analytics in the retail market generated $4.85 billion in 2023 and is estimated to increase to $25.56 billion by 2028, with a CAGR of 23.1% from 2023 to 2028Update the detailed information about Top Technology Trends For Cios To Watch In 2023 And Beyond on the Bellydancehcm.com website. We hope the article's content will meet your needs, and we will regularly update the information to provide you with the fastest and most accurate information. Have a great day!