Augmented analytics is a top emerging tech trend of 2019.
Designed to infuse artificial intelligence (AI) and machine learning (ML) technologies into analytics workflows, augmented analytics is qualified by
Gartner as the next disruption in the data and analytics market.
Augmented analytics capabilities offered by SAP Analytics Cloud augment business intelligence (BI) and enterprise planning workflows with the power of AI and ML technologies across a single solution on one software-as-a-service (SaaS) platform.
The results help everyone in your organization to make intelligent decisions for better business outcomes.
But what are the benefits?
Firstly, bringing BI and enterprise planning with augmented analytics onto one platform across all devices helps to take planning mainstream. After all, we all plan, don’t we?
Secondly, it offers numerous long-term competitive advantages for the intelligent organization, namely:
Predictive Analytics Becomes Mainstream
Increasing numbers of businesses are willing to adopt predictive analytics and augmented analytics enables it to become mainstream. Historically, predictive analytics has often been difficult and complicated to interpret and understand, leading to a dependency on a limited pool of data scientists. The good news is that augmented analytics makes predictive analytics accessible for all business users without the need for a data scientist.
Gartner predicts that, by 2024, a lack of data scientists will no longer hold back the adoption of data science and machine learning in organizations by 2024.
SAP Analytics Cloud delivers that to your business now.
More Analytics Changes
In my opinion, there are a further three fundamental changes to analytics that are driven by augmented analytics:
1)Passive becomes active
The system alerts your organization to critical deviations in business trends, delivering immediate unbiased insights and next-best actions. For example, if your year-end profit forecast is showing a downward trend, augmented analytics capabilities:
- Identify the areas that may not be aligned with that forecast
- Immediately draw the key influencers to this deviation enabling an appropriate response
In this way, business intelligence and planning are transformed from passive to active.
2)Consumption becomes interactive
Conversational analytics based on natural language processing enable you to interact rather than trying to formulate your own queries. A Google-like search experience takes precedence over complex UI. Simply request data in a conversational manner, such as "Show me which customers will churn in the next quarter," and the system will intelligently respond and create instant best practice visualizations powered by natural query. Data-driven decisions become faster and easier.
3)Analysis is done for you
As data sizes increase and types vary, decision making becomes more complex. With augmented analytics, insights are uncovered more rapidly and root causes more easily analyzed and understood. Future outcomes are anticipated and results are built based on your questions, while overcoming your biases. Decision makers have access to the right information at the right time, meaning the best possible outcomes are achieved.
In the long-term, augmented analytics makes it an entirely natural capability for someone in the business world to achieve outstanding results without the need for interpretation through a data scientist. AI and ML technologies at your fingertips means that you can re-imagine the process and understand your parameters, interpreting your data at a much higher level.
Making More Intelligent Business Decisions with SAP Analytics Cloud
The SAP Analytics Cloud solution helps all decision makers to make better decisions, by combining business intelligence, enterprise planning, and augmented analytics. Rather than relying on standalone spreadsheets, or siloed solutions, insights are available in one solution offered as a SaaS to enable better business decisions and help your organization to become a more agile, intelligent enterprise.
With all the augmented analytics capabilities and benefits mentioned above enabled, the SAP Analytics Cloud solution offers unprecedented value and expertise to today’s enterprise, empowering your organization to:
- Discover, analyze, plan, and predict in one experience across all devices.
- Make end-to-end decisions with data management and analytics together in one place.
- Scale to meet the needs of your business and diverse users across all decision types---strategic, operational, and tactical.
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