What Are the Benefits of Augmented Analytics?
Augmented Analytics may sound complicated but the goal is to use all those complicated analytical techniques and algorithms as an underpinning for an advanced analytics solution that is suitable for the skills o an average business user. In other words, the system may be complicated, but the interface and process to gather and analyze information is easy!
Augmented Analytics is designed to encourage user empowerment and user adoption. It enables data sharing and allows the organization to produce fast, dependable insights and improve the value of business analysis across the enterprise, thereby democratizing the use of advanced analytics.
Did you know that the renowned technology analyst firm, Gartner predicts that the number of Citizen Data Scientists will grow five times faster than the number of expert data scientists through 2020? They also predicted 2019 that the amount of advanced analytics produced by citizen data scientists will surpass the data produced by data scientists, and that by 2020, more than 40% of data science tasks will be automated, resulting in increased productivity and broader usage of these tools by citizen data scientists.
That’s a lot of data, and a major transition! With the right augmented analytics support, every enterprise can provided guidance and recommendations to make business users more productive and more of an asset to the organization. Advanced Analytics Advantages include strong support for day-to-day business decisions, improved insight and perspective for planning, forecasting and decision-making, quite hypotheses and prototyping (without the risk of a misstep in business), business development agility, timely and accurate support at every level of the organization, and the emergency of power users and citizen data scientists.
And, that’s just the beginning. Your IT and data science teams will also benefit by optimizing their time for critical activities and allowing them to focus on strategic initiatives.