Data and analytics is the future of the business world. Gone are the days of unreliable gut feelings and error-prone decision making. Here are the days of reliable metrics and data-driven decision making. This is happening, everywhere, all the time, and across all industries. Companies with data and intelligence are dominating companies without data.
Thanks to competitive dynamics and capitalism, every company in the world will inevitably be forced to turn into a data-driven organization over the next few years or else they risk simply being pushed out of the market by competitors. We would broadly call this pivot towards data-driven decision making as the emergence of the Intelligence Economy since it’s, quite literally, just companies using intelligence to improve economic outcomes.
Data science platforms that provide the analytics and tools to empower data-driven decision making at the enterprise level are the heart of this burgeoning Intelligence Economy.
As data-driven decision making becomes ubiquitous across the enterprise over the next several years, data science platforms will become equally ubiquitous. Because data is no good if we can’t analyze it. You need to be able to transform clunky, large CSV and Excel files into actionable insights in order to glean value from the data, and truly benefit from the Intelligence Economy (or, again, you risk being run out of business by someone who does).
These days data analytics platforms provides an end-to-end platform which does just that — gives enterprises the analytics and tools necessary to turn raw data into insights. More important is that Data Scientist are in demand and not available readily. Thus low-code or no-code platforms wherein folks with business knowledge can actually drive data to analytics are going to play crucial part.