Logo CommuniQA Issue 55
October 2018
Logo Swan

Dear Readers,

Greetings from Swan Solutions!

We all know why “Data” is called the new oil. In fact, it's a lot more challenging than the oil. Unlike oil, the data gets bigger! Generating insights out of this big data has been a huge task for most businesses.

There is also a serious shortage of experts globally who can effectively drive better business insights from the data. India alone has seen more than 400% rise in demand for data science professionals!

This gradually led to, what one would call, the democratization of data analytics. We saw the emergence of ‘citizen data scientists’ or power users-people who are not sophisticated data scientists-performing analytical tasks.

‘Augmented analytics’ is predicted to further extend this democratization wave for a broad range of business users, operational workers and citizen data scientists.

The use of advanced machine learning and artificial intelligence algorithms eliminates manual processes and related errors. Most importantly, it brings down incidents of data bias or the hypotheses we develop based on what we ‘think’ is important.

For sure, data analytics is going to get better. Read on to know more...


Regards,

Signature
C.E.O


Tech Trend
Why Augmented Analytics?

Why Augmented Analytics?

Data plays a crucial role for organizations in staying ahead of the curve. Making sense out of data, deriving actionable insights that allow you to take faster and smarter decisions etc have been the key tenets for most organizations.

But as data got bigger and volumes became overwhelming, the traditional approach to data and analytics became increasingly insufficient. The primary reason for this is the manual dependency of these traditional tools-while exploring and preparing data, testing the models and finding certain patterns and even while sharing the results with the business.

Business and IT leaders realized that the manual approach leads to skewed results, because humans often come with perceptions and biases! Typically, data scientists tend to explore only a small percentage of the overall data, assuming that the rest is irrelevant or simply because there is way too much data to analyse! This brings down the possibility of deriving more relevant results.

Additionally, there is a huge skills gap when it comes to data scientists and experts, which also makes them very expensive and unaffordable for smaller businesses. That said, these experts still spend most of their precious time ‘preparing’ data, rather than doing actual analysis.

The Data Warehousing Institute found that 65% of respondents spend anywhere from 41 to 80% of their time on data preparation!

With augmented analytics, the various aspects of data analytics-preparation, insight discovery, insight sharing-are automated using machine learning and natural language generation. It improves overall speed and accuracy; more data can be analysed, and data biases can be reduced.

Besides, augmented analytics enables data scientists to focus on specialized problems, rather than doing simple mechanical things like labelling and cleaning their data. On the other hand, automation makes analytics accessible to business and operational users as well.

In the next two years, augmented analytics capabilities will be the “dominant driver of new purchases” of business intelligence software, Gartner predicts.


Expert Tip
What to look for while adopting augmented analytics

What to look for while adopting augmented analytics


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Before going in full swing, launch a pilot project to assess the feasibility of this technology for your organization. Choose a set of business problems that usually require manual, time-intensive analysis or are prone to bias.

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Build your trust in automation, validate the end-results by data experts and ensure that they are accurate.

•  

Do not be in a hurry to choose a specific vendor. Study the various features and advantages offered by established vendors, start-ups and open-source companies and decide which one fits your requirements.


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Swan is a 28+ year old, IT infrastructure and facilities management company providing state-of-the-art IT solutions to large and medium enterprises

Swan Solutions & Services (P) Ltd - 404 T-Square, 4th Floor, Saki Vihar Road,
Andheri East, Above Kavish Ford Showroom, Mumbai 400 072;
Tel. 022-28034088 ; Email : enquiry@swansol.com Website : www.swansol.com



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