3 Trends in Data Analytics: From 2023 to 2024

Hello, friends! I hope you're well-rested and ready to work? Today, let's talk about what made 2023 memorable and what will continue to gain momentum in 2024.

#1 Artificial Intelligence in Analytics

The combination of "Analytics + AI" seems to be with us forever now.

🔸 PowerBI, Tableau, and others have implemented AI
🔸 ChatGPT released Data Analyst
🔸 Numerous startups with analytics and AI

#2 Self-Service Analytics and "Data Democratization"

People without a technical background and without the help of an analyst can now:

🔸 Access data quickly (using natural language database queries)
🔸 Perform simple analysis in seconds

All this is thanks to AI and intuitive interfaces.

Despite the disappointment with AI in 2023 and the realization of its limitations, ignoring this trend would be a mistake. Gartner predicts that by 2024, 75% of organizations will use AI for analytics.

#3 Embedded Analytics

Analytics is being integrated into various applications and processes, improving decision-making and allowing users to independently find and solve problems, as well as find ways to improve. Examples:

🔸 Kodak has embedded analytics in its software for printing machines, allowing for tracking of ink usage efficiency
🔸 Shopify offers analytics tools on its dashboard for merchants to track sales, customer behavior, and other key business metrics.

In conclusion, all these processes will not replace an analyst. They are just a powerful tool for in-depth work and reducing manual labor.

Wishing everyone successful analysis in 2024!

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