We live in an era of digitized big data. By the end of 2020, it is expected that every person in the world will generate over 1.7 megabytes of data each second. The datasets have become so complex, vast, and fast-moving that traditional BI solutions just cannot keep up with them. They either fail in preparing the data, analyzing it, or just handling the vast amount of data. But your organization needs to uncover important insights in data if it has to thrive. While digging deeper through data is a tough job, it is possible with the right tools. So, how do we make business intelligence tools analyze the ever-changing data more effectively? The answer lies in augmented analytics.
What is Augmented Analytics?Augmented analytics allows businesses to use machine learning to automatically extract insights and visualize relevant findings from data without having to write algorithms or build complex models. It reduces the need for specialized skills just to handle data and extract important insights from it. An augmented analytics engine is capable of automatically learning about the company’s data, cleaning it, analyzing it, and converting it into valuable insights so that the company leaders and stakeholders can make better data-driven decisions. It makes analytics more accessible to analysts and other business owners by decreasing their dependence on data scientists and implementing advanced machine learning algorithms. The augmented analytics engine connects all the trends in company data in order to offer a larger context of the business. It can provide insights into what the company can do next to maximize its overall operational effectiveness.
The next big thing for Business Intelligence: Augmented AnalyticsThe automation offered by augmented analytics has transformed traditional business intelligence (BI) into self-service business intelligence. While traditional BI used to be a centralized tool that was majorly operated by the IT team, self-service BI can be driven by business users who are the end users in most cases. The biggest disadvantage of traditional BI is that it requires you to hire highly skilled data analysts, and it has long time-to-insight along with the poor quality of data. On the contrary modern self-service BI solutions powered by augmented analytics offer user-friendly graphical interfaces that can be used by end users with little to no assistance. These solutions have the capacity to handle a vast amount of data from multiple sources in a quick and efficient manner. Self-service BI makes data security, governance, and access control simpler for the entire organization. They also help reduce the constant back and forth between the business team and the IT team. Some of the many advantages of using self-service BI powered by augmented analytics include:
- Deeper data analysis: With augmented analytics, the tool does all the heavy lifting for you. It analyzes exhaustive data combinations and easily finds all the factors that are influencing your business
- Quicker results: Since there are no data analysts manually scanning the data, you get quicker results
- Better use of resources: When you automate a big part of your analytics process, your data scientists can focus on more complex and deeper researches that machines are not capable of handling yet
- Actionable insights: By simplifying the data analytics process, you get access to important insights which help you in making better data-driven business decisions.
Finding the right self-service BI tool can make all the differenceMany modern BI solutions claim to be self-service, but if they don’t offer an easy to use interface then they might end up not being useful at all. Intuceo offers Intuceo-Ax, a self-service augmented BI solution which helps business users in exploring their data, mining patterns, creating predictive models, and generating visualizations. It offers an AI-powered, fully automated engine which handles all the grunt work of churning through billions of data points to find you the most optimal solutions that can improve KPIs.
Here are some of the many features of the Intuceo-Ax self service augmented BI accelerator:
- End to end automation which decreases the overall time it takes to analyze data
- Intuitive interface that allows new users to get started right away
- Powerful preprocessor to prep the data accurately and reduce both time and effort
- Identifies even the most deeply hidden patterns
- Generates visually-driven reports with actionable insights