Times are changing; this has been a term in use since the rapid progress of humanity since the 18th century. Today, it can be used even on a daily basis. Technology remains the cornerstone through which humanity evolves, it is now embedded in every single part of our lives today and imagining a future without it would be quite challenging. This is why going forward, there is always going to be a discussion about its impact and how it will change as the time comes.
Data is something that humans have been able to collect very efficiently over the past few decades. In recent times, the collection process and speeds have ramped up significantly. This also means that, in the world of analytics, anything and everything will have correlations. Here are some ways data will impact us:
- Transparency: With more and more amounts of data being made available to the public, it is only a matter of time before we use it for every single task in and around the house. Today the insights provided by these numbers and metrics can only be picked up by data scientists, but the future is not too far away when even the common man would be able to infer from the said data. Its widespread adoption for all spheres of industry and business will become even more rapid as time progresses.
- Marketing: There will be an increased personalization of marketing. As data flows, it allows companies to select and narrow audiences. With an increase in the sheer numbers and information, it would be a matter of time before marketing strategies will become highly targeted and become personal. This also might seem like an invasion of privacy, and as things go about, there will be solutions that address this issue as it arises.
- Collaborative Vertical Solutions: As we head into the imagination and digital age, there will be an increase in digital transformation. Collaborative tools will improve through the sheer insight that data can provide. Templates, workflows, and platforms such as Salesforce Service Cloud specifically created for highly regulated industries such as finance and healthcare can contribute well to the success of businesses in a world that is connected.
- Proactive customer service or reactive: This dynamic change comes as a result of the influx of information through analytics. Things such as connected devices, AI and more; companies and businesses can respond and resolve problems at the origin. This can be done without the consumer even acknowledging the issue. The impact it can have on consumer satisfaction is simply unparalleled.
- Responsible AI: Ethics and values are all clauses that are under intense scrutiny when it comes to artificial intelligence. There is a question of accountability when it comes to AI creation and usage. There is an onus on the current developers and data scientists to create AI which is responsible. There is forced accountability being put on developers, thus there is an assurance that systems created henceforth will be responsible.
These are just small glimpses into what the future holds for data analytics and AI.