The analytics industry has been through a sea of change in a short span of time and is continuing to face rapid change and revolutionary development. Accordingly, there has been a spurt in the number of working professionals taking big data analytics certification to forge ahead in their careers. Where is the analytics headed in 2022?
What are the trends to look out for?
Let us have a look.
Business Intelligence and Analytics
As more businesses go digital and realize the importance of business analytics, there will be a growth spurt in the demand for business intelligence tools and analytics to analyze large volumes of complex data generated and to use the insights to chart out a roadmap to business success. Predictive analysis will become a preferred business analytics tool in 2022. The BI market alone is predicted to grow to $20 billion in 2022.
Machine Learning and AI are here to stay
Organizations are looking for ways to automate certain tasks and therefore, automation, Machine Learning, deep learning and AI-assisted technology is predicted to grow rapidly, unearthing patterns from complex data and helping companies to make faster decisions based on real-time data at optimal cost. Artificial Intelligence (AI) expected to erase the difference between structured and unstructured data.
The rise of cloud analytics
More businesses are deploying cloud data and applications, gravitating data from on-premise storage to the cloud environment. From lengthy and often inaccurate spreadsheet analysis to cloud-based models for data analysis is predicted to soar in 2022, giving rise to a demand for end-to-end cloud analytics. Cloud analytics will infuse greater flexibility and cost-effectiveness into big data analytics.
Contextual insights
Through Machine Learning tools and algorithms, it is possible to get insights that are relevant to a given context such as churn rates, supply chain logistics, workforce planning, etc. Such contextual insights will be leveraged by businesses to improve their functioning and profitability.
Insight-as-a-service
With the growth of cloud computing, automation, Machine Learning and AI, businesses can now outsource analytics and also get access to relevant external sources of data through firms that provide insight-as-a-service. Experts predict that nearly 80% of businesses will seek these insight service providers in 2022 and will outsource up 10-75% of their BI work to them, nearly doubling the size of the insight-as-a-service market.
Digital innovation
Through pairings of analytical tools such as IoT, ML, AI, blockchain, etc. to create accelerated business growth opportunities will be explored, researched and implemented in 2022.
Customer intelligence will grow
As firms become more customer-centric and want to deliver seamless customer experiences to improve their own brand position and market share, customer intelligence will grow, and brands will look to use big data analytics to deliver deep insights and leverage these into their goals and activities.
Growth in jobs
Jobs in data analytics is already increasing and in 2022 this is expected to increase much further especially for specialized posts like Chief Data Officers, Data Engineers, etc. and experts with technical skill sets. Accordingly, there will be an increase in demand for online courses on big data analytics and big data analytics certification.
If you are into Business Analytics already, or seek to pursue a career in this field, there is no better institute than the IIMs, to pursue a certification course in the same.
Organizations are increasingly going online, irrespective of their size, nature, sector or industry of operation, and continuously augmenting their presence online. This, coupled with the increasing penetration of the internet even to the most remote areas, is leading to large volumes of data being generated. Organizations of today realize that the quintillions of data generated are not simply to be stored and that they are gold mines that, if effectively utilized, can be leveraged by them to ensure growth and success of the business in the long-run. So, data is one of the most valued business assets of today. The data that is available to organizations is, however, unstructured, raw, scattered and seemingly unrelated. To make sense of this data and to effectively analyze this data and unearth hidden patterns, trends, correlations and other useful information. Using these insights, organizations can engage in data-driven decision-making, effectively manage their operations, plan marketing strategies, provide seamless customer experience, design products effectively and so on.
With analytics gaining such momentum and criticality for organizations, there is a rapidly growing demand for skilled professionals with expertise in various aspects of analytics. But there is a large skill gap which has led to a rise in the salaries and perks for the existing professionals. Accordingly, there is a rising demand among working professionals, IT personnel, business managers, engineers and even statisticians for analytics courses so as to gain a competitive edge as well as in making a lucrative career shift. There are several analytics courses offered by top-notch universities and institutes across the globe on various aspects of analytics such as marketing analytics, business analytics, financial analytics and so on.
Here is one of the best IIM analytics courses that everyone engaged in hardcore business analytics should do to give themselves a competitive edge.
Executive Development Program in Business Analytics and Big Data from IIM Kashipur
This 5-month online IIM analytics course from IIM Kashipur equips learners with an in-depth understanding of core concepts of both big data and business analytics such as data visualization, predictive analytics, machine learning, social network analytics, sentiment analytics, market segmentation, etc. and their practical application in data-driven decision-making and management. It upskills learners in using the latest analytics tools and technology, statistical methods and best practices in the big data and business analytics ecosystem. The course also includes learning of programming languages like R, Hadoop, Python, etc. This course provides hands-on training and exposure to the various analytics tools and technologies so that participants can apply them practically in their work.
This IIM analytics course is best-suited for professionals working in IT, Analytics, e-Commerce, Market Research, etc. or business managers, project managers, marketing managers, etc. with minimum 2 years of experience. Any formal degree with Mathematics or Statistics as a subject is acceptable. The successful completion of the course will earn participants a certificate of completion from IIM Kashipur.
Enrol yourself in this analytics course offered by IIM and give your career in business analytics a boost.
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