In continuation of our series on Gartner’s top 10 tech trends for 2019, let’s talk about the second trend on Gartner’s list – augmented analytics. Gartner defines augmented analytics as “an approach that automates insights using machine learning and natural-language generation.”
The rise of augmented analytics couldn’t come at a better time considering that by 2024, the U.S economy will experience a shortage of 250,000 data scientists, according to the McKinsey Global Institute (MGI). The lack of data scientists in conjunction with the high cost of hiring them will call for the use of citizen data science, which allows people in a business to leverage data without having prior expertise. “Through 2020, the number of citizen data scientists will grow five times faster than the number of expert data scientists. Organizations can use citizen data scientists to fill the data science and machine learning talent gap caused by the shortage and high cost of data scientists,” said David Cearley, vice president and Gartner fellow. Furthermore, a Medium article highlights other reasons why there’s a need for augmented analytics, one being that data scientists are not business experts, so the analytical results they gather may not make sense in business terms. This adds more work for executives as they must review results for accuracy. Moreover, data scientists are humans, not machines. Therefore, they are less capable of performing repetitive tasks with a full attention span.
For these reasons, we will see more businesses adopting augmented analytics in 2019 to better prepare, analyze and manage data. Contact us and learn how Stefanini can help you uncover the potential of your business’ data next year.