Data analytics has become a primary driver of business success, and the potential for data-driven business strategies is greater than ever.
Gartner has some thoughts on data and analysis. In a predictions report released earlier this year, the analyst firm outlined ten major predictions for the field centering around three categories including data analytics and leadership, artificial intelligence and digital transformation, and industry digitalization.
In the report, Gartner Senior Director Analyst Sarah James noted that, “increasingly, data and analytics has become a primary driver of business success, and the potential for data-driven business strategies is greater than ever, with further acceleration of digital transformation and data-driven business.”
Let’s take a look at how the different areas of the field are shaping up.
Data and analytics leadership
Gartner believes that more than a quarter of Fortune 500 CDAOs (Chief Data and Analytics Officers) will be responsible for products based on data and analytics. This suggests continued growth of products based on the evolving relationship between organizations and their data. Additionally, Gartner believes CDAOs will need to prove successful outcomes from these products to relevant stakeholders and drive organizational performance.
See also: Businesses Need to Democratize Analytics to Gain Benefits
Artificial intelligence and digital transformation
Three of the predictions concerned artificial intelligence and digital transformation efforts. Gartner believes investors will send over $10 billion in AI startups relying on foundation models in just a few short years. Generative design AI tools will automate the majority of the design effort for new web and mobile apps by 2027. This focus on AI from both the investor and the business sides won’t slow down.
AI isn’t the only focus. Companies are also continuing to make strides in digital transformation, and 75% of organizations will adopt digital transformational models based on the cloud in the same forecast years.
Digitalization will also continue
Gartner strongly believes that a variety of industries will ramp up digitalization efforts. Some of these industries include k12, Government, healthcare, and retail pharmacies. Because of this, organizations promoting digital dexterity enablement will feature strong revenue growth. This set of predictions makes sense within the context of continued pushes to integrate AI into industry operations and the journey toward digital transformation.
These predictions show how technology like AI is changing operations in just about every industry and hint at just how committed companies are to pursuing complete digital transformation, for better or worse. These modernization efforts are a direct result of the presence of big data and a strong desire to stand out in an increasingly noisy and disrupted business landscape.
