What Data Analytics Really Means to the Industrial Sector inddist.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from inddist.com Daily Mail and Mail on Sunday newspapers.
It goes beyond just positive trends and their causes in driving ROI, value and efficiency.
Mar 10th, 2021
The fields of data analytics, science and engineering have proven a transformative force for businesses over the last few decades. Data is a complex and diverse medium that encapsulates everything from sales and customer data to information collected through IoT sensors. Scalable IT systems and powerful database infrastructure have ushered in the age of Big Data - the trend and practice of collecting colossal datasets for complex analysis and insight.
In a 2021 study by NewVantage Partners, a remarkable 99 percent of surveyed businesses cited that they were making efforts to invest in data and AI. Research by Statista found that Big Data investment is 10x higher now than it was 10 years ago in 2011, and is expected to push $100 billion by 2026.