Augmented analytics is the use of machine learning (ML) and natural language processing (NLP) to enhance data analytics, data sharing, and business intelligence. Technology is here to make our lives easier. In simple terms, Augmented analytics is the use of statistical technologies to improve data management which includes data analysis to data sharing. Augmented analytics is the power of machine learning to process more data at a much faster rate than humans can. It handles the complexity of data to manage and report on data so business decisions can be done using the insights data provides. In the organization, it gives many people analytics and insights from data.
Many big companies like Smarten, Incorta, Xcalar and Datameer are focusing on developing end-to-end smart data analytics solutions to reach valuable insights from big data. Augmented analytics provides accurate business predictions and quantitative analytics of products, service offering and pricing through the perpetual support of business intelligence.
Whether you are an IT professional, IT consultant or manager it becomes very important to monitor the progress of business analytics by giving your team the right tools which can manage their data. Augmented analytics, on the other hand, invoke the power of machine learning to process more data at a much faster rate than humans can (compare seconds to weeks). The evolution of advanced data analytics tools and self-service analytics endows business users instead of just data scientists with the ability to conduct analyses.
In Augmented analytics companies and stakeholders use machine learning and artificial intelligence to improve the analytics process. The business has to spend less time in augmented analytics to gather data and design for the dashboard. The decision making power becomes faster and more accurate.
Augmented Analytics has simplified the implementation of a smart tool for all business organizations without the support of data scientists and is going to be the future of analytics. The next-generation technology will drive the smart data market, helping to automate data insights.