A recent report revealed that by, 2028, the Augmented Analytics market is projected to reach USD 46.26 billion at a CAGR of 24.30%. The business intelligence solution market has evolved into augmented analytics and these solutions designs have progressed to support average business users with simple solutions that combine sophisticated analytical techniques and algorithms with easy navigation, reporting and insight.
If you are a business owner, executive or manager, you have already heard about (and are probably implementing) strategies for Citizen Data Scientists. If you are a business user, you may be hearing rumblings of this in your everyday work and wondering exactly what this type of initiative means for you and why you should consider it beneficial.
Business managers, owners and senior executives really want to do the right thing! The goal is always to improve the business, to hire the best staff and to satisfy customers and partners. To do that, the business must build a foundation of business processes, policies, technology and software that will support goals and objectives and make it easier, more timely and more efficient to perform tasks and complete activities.
By now, every wise business team has acknowledged the advent of digital transformation and the transformation of business users into Citizen Data Scientists. But acknowledging the reality and enabling that reality within the walls of an enterprise are two very different things. Where many businesses fail in implementing the Citizen Data Scientist initiative, it is typical to find that the business has simply decided to deploy the strategy without much planning or culture change. Without understanding the shift in workflow, responsibilities and how the use of data will change the enterprise, it is unlikely that the business will succeed in its Citizen Data Scientist initiative.
The Client is one of the largest Rural Fintech companies in India with more than 700,000 Rural Entrepreneurs and services to benefit 100 million consumers. The Client business is currently growing at 150% year over year with a transformative impact on digital, financial, and e-retail services across rural and semi-urban regions.
Wise business owners and managers are taking on the challenge of implementing data democracy, digital transformation (Dx), and Citizen Data Scientist initiatives. The reason is simple! These businesses understand the benefits and the advantages of providing augmented analytics access to business users, thereby improving fact-based, timely decisions and improving the planning and forecasting process. These initiatives also optimize resources and allow the business to do more with less – which is something every business needs!
While many of you may follow the research and market analytics provided by Gartner, you may sometimes find yourselves wondering if their predictions and market analysis are correct. When it comes to the predicted transformation of business users into Citizen Data Scientists, that particular transition has been happening for a while now. If anything, the global pandemic has simply made the prediction more pressing than ever.
The trend toward analytics is growing globally. Even the smallest business is jumping on the bandwagon, and with good reason. With market changes, shifts in customer buying behavior and the need to spend wisely, businesses must make data-driven decisions if they are to be competitive and plan logically for growth.
Perspective is everything. You can stare at numbers and columns all day and never see the one nugget of information that will give you insight and help you solve a problem or find that one opportunity to drive the business to the next level. When you and your business users can leverage augmented analytics tools, without worrying about complex algorithms or writing code or designing reports, you can find those elusive nuggets of information and use them to improve your business results.
So, you’ve got yourself a BI tool! That’s great news. Hopefully, that business intelligence solution includes all the features your business users need to easily gather and analyze data and make recommendations and suggestions, make decisions and fulfill their responsibilities in a way that supports your corporate goals and objectives. While your business may not think it needs all the bells and whistles, there are many hidden benefits to features and tools. Take for example, GeoMapping.
