January 2023: Augmented Analytics
According to a ReportLinker report cited by Yahoo Finance, “The augmented analytics market is expected to grow to $21.70 billion in 2026 at a compound annual growth rate (CAGR) of 22.90%.” This represents a major share of the overall growth of the Business Intelligence software and services market in the next year.
In its simplest form, Augmented Analytics uses the power of machine learning and AI processing to automatically generate analytics reports. As the Yahoo Finance article explains, augmented analytics “assists with data preparation, insight generation, and explanation that augments experts and data scientists with the automation of developing, managing, and deployment of data science machine learning and artificial intelligence models.”
Companies such as Salesforce, SAP, IBM, Microsoft and Oracle among others are cited as major players in building solutions around Augmented Analytics.
Skills and experience needed: Consultants will need a solid foundation in Data Science with a specialization in building data systems supported by Machine Learning and AI (Natural Language processing). As the solution provider (software and services) market expands, there will be a call for Data Scientists who have working experience with specific Augmented Analytics vendor tools and systems.