Big Data
2.5 quintillion bytes of data are produced by people every day
Monday, February 1, 2021
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Austin Harris |
Ramesh Panuganty, CEO of BI company MachEye predicts that because 2.5 quintillion bytes of data are produced by people every day, in 2021 business intelligence will be shifting towards advanced data analytics and advanced data analytics provide higher quality insights, natural search, and interactive audio-visuals will be essential, and advanced data translation tools will have significant demand.
Business Intelligence is shifting to a new paradigm of advanced data analytics with the integration of Natural Language, Natural Search, AI/ML, Augmented Analytics, Automated Data Preparation, and Automated Data Catalogs. This will transform business decision-making processes with higher-quality real-time insights.
2.5 quintillion bytes of data are produced by people every day
2.5 quintillion bytes of data are produced by people every day, and it will grow faster each year. Business intelligence leaders are already struggling to translate this explosion of complex data into actionable insights. As a result, there will be a significant demand for more advanced, easy-to-use data translation tools.
Businesses that continue to use static dashboards and Excel-based reports will fail to identify meaningful trends for new business opportunities, as well as lose visibility into potentially disruptive events.
Data generated by mobile, voice interaction, and smart assistant technologies will be significant. However, in terms of Business Intelligence, their significance lies in shaping how people like to engage with and consume information.
Most companies were unprepared to scale their enterprise for a global remote workforce. This shift revealed the need to empower business user independence to access and translate the data they need. Easier tools, such as natural search and interactive audio-visuals, will be essential for them to successfully interpret and act on these insights.
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