Augmented Analytics

Gartner named augmented analytics as «the next wave of disruption in the data and analytics market that leaders should plan to adopt». What is Augmented Analytics? It is the utilization of Artificial Intelligence, or if to be precise, Machine Learning and Natural Language Processing for data preparation, analysis, and insights generation. It is the next step of Business Intelligence as a service, with more emphasis on Artificial Intelligence rather than on humans.

This Forbes article of Softengi CTO will give you a more detailed overview of augmented analytics utilization on the front, back, and middle office layers.

 

 

Augmented AnalyticsSoftengi

Advantages

The most substantial advantages of Augmented Analytics

Machine Learning

The use of advanced Machine Learning algorithms, allows Augmented Intelligence software to automatically process large amounts of company internal and external data.

Artificial Intelligence

Artificial Intelligence-based technology enables Augmented Analytics software to analyze extracted data, explain insights and make predictions.

Natural Language Processing

Due to embedded Natural Language Processing technology, Augmented Analytics is able to provide instant answers in natural language to users’ queries, drastically reducing reporting times and accelerating operating processes.

Some perks of using Augmented Analytics:

1.     As a natural continuation of Business Intelligence but with more emphasis on the automation, Augmented Analytics helps companies get the most out of their data with ML and NLP. With its deep analysis of available data, Augmented Analytics software is able to perform data-driven tasks faster and more efficiently, requiring significantly less technical competency from companies, hence reducing expenses. The software processes all types of data, identifying patterns, correlations, and expected future results as well as analyzing location dependency networks and market trends.

2.     Predictive Modelling

Using Augmented Analytics allows companies to make more accurate predictions and drive improved performances. Augmented Analytics-powered systems can analyze huge amounts of data from various sources inside and outside the organization, making forecasts based on the analyzed information. This can improve customer experience by enhancing personalization rate, product and searching recommendations.

3.     Smart Data Visualization

Augmented Analytics provides companies with smart data visualization, which transforms complex data in easy-to-understand forms. such as tables, numbers, descriptions and other visual materials. The augmented analytics translates the query and returns the results in natural language in a natural language an appropriate form.

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