Creation of Chief Analytics Officer will be one of the IT trends to watch out in 2015, said PwC India.
Sudipta Ghosh, executive director, PwC India, Rajat Mathur, managing consultant, PwC India, have shared the following trends.
Rich Media Analytics
Organizations are managing rich media data (such as video, audio, and images) and in the coming year, organizations are likely to invest on rich media analytics to extract value emerging from these sources. With advancement in processing power and machine learning research, the usage of these data sources is likely to increase in near future.
Mobile Data Analytics
Mobile internet usage has been increasing at a staggering rate. There is a vast amount of wealth that can be derived from the mobile activities of consumers which present a significant data analytics opportunity. In the coming year, harnessing the power of such data is likely to become a top priority for organizations.
New Advanced Analytics Techniques
New machine learning techniques holds lots of promises in solving complex business problems. Such techniques will be applied across various business scenarios in near future to improve decision making processes. Some examples of such techniques are dynamic decision modeling, deep learning etc.
Better Analytics Apps
Analytics apps have been successful and now organizations are looking for even better apps. Digitisation is creating a new ecosystem across industries and new and advanced analytics apps designed to take advantage of such an ecosystem
Big data analytics in the cloud
Businesses are always on a look out for economical and scalable means to manage and analyse huge amounts of data generating from countless sources (such as Social, Mobile, Vehicles, etc.). A cloud based solution seems to be the answer and most leading business intelligence and analytics vendors have started offering cloud-based versions of their offerings paying a lot of attention to security.
Chief Analytics Officer
Quite a few organizations already have Chief Analytics/ Science Officer and in coming days we are likely a lot of organizations create such positions. The “Head of Analytics” will make its way out from Marketing/ Operations/ Finance functions to the C-Suite – analytics will soon a separate function in organizations.