Have you ever caught yourself thinking that no one understands you better than Netflix or YouTube? They just seem to get what you want and are always ready to deliver. The explanation for this impressive personalization lies in advanced data analytics mechanisms. The privacy concerns around big data are not empty words – BI does help business owners monetize your desires. When one thinks of the entertainment industry, the things that come to mind first are movies, theaters, concert venues, and sporting events.

Augmented analytics and artificial intelligence (AI) are among the top data and analytics technology trends that have the potential to significantly change business operations in the next three to five years, according to a presentation at the Gartner Data and Analytics Summit in Sydney this week. Data and analytics leaders must examine the potential business impact of these technology trends, and adjust business models accordingly--or risk losing competitive advantage to companies that do, Rita Sallam, research vice president at Gartner, said at the event and in a press release. "The story of data and analytics keeps evolving, from supporting internal decision making to continuous intelligence, information products and appointing chief data officers," Sallam said in the release. "It's critical to gain a deeper understanding of the technology trends fueling that evolving story and prioritize them based on business value." With digital transformation efforts underway at most organizations, businesses are collecting more data than ever before, creating challenges but also major opportunities, Donald Feinberg, vice president and distinguished analyst at Gartner, said in the release.

Data visualization tools, desktop data discovery tools, and visual analytics are examples of traditional self-service BI tools that business analysts embrace because they provide a user-friendly way of quickly turning data into insights. These tools are geared toward business analysts that have the skills and knowledge to acquire the right data sets, perform the analysis, and present the insights needed to solve a business problem. Often, these data sets acquired by business analysts are not governed or managed by IT, but this is acceptable because business analysts have enough business knowledge to evaluate whether insights are reasonably accurate to address the business problem. Business analysts also have the skills to best present analysis in the form of beautiful charts and reports to make it easy for others in the business to interpret insights quickly for decision making. Machine-generated insights can remove business analysts entirely from the analytic process.

Augmented analytics and artificial intelligence (AI) are among the top data and analytics technology trends that have the potential to significantly change business operations in the next three to five years, according to a presentation at the Gartner Data and Analytics Summit in Sydney this week. Data and analytics leaders must examine the potential business impact of these technology trends, and adjust business models accordingly--or risk losing competitive advantage to companies that do, Rita Sallam, research vice president at Gartner, said at the event and in a press release. "The story of data and analytics keeps evolving, from supporting internal decision making to continuous intelligence, information products and appointing chief data officers," Sallam said in the release. "It's critical to gain a deeper understanding of the technology trends fueling that evolving story and prioritize them based on business value." With digital transformation efforts underway at most organizations, businesses are collecting more data than ever before, creating challenges but also major opportunities, Donald Feinberg, vice president and distinguished analyst at Gartner, said in the release.