Businesses rely on business analysts to forecast the fortunes of their companies. However, if you are a business analyst, it is wise for you to study what the future of the field itself might hold.
We are at a crossroads in the world economy right now. The pantheon of machine learning and artificial intelligence threaten to make many field either or obsolete or less labor intensive. On the other side are millions of people whose skills could become redundant with every passing moment as AI grows and promises to be everything it has been posturing as.
In this article, we discuss the future of business analytics.
Big Data and AI Crossing
The crossing of big data and AI is inevitable. The world’s most advanced technology would have to meet big data. When this happens, mountains of large data sets could be analyzed for patterns and trends within seconds. In other words, the skills a business analyst might learn today will become obsolete tomorrow.
Deep Learning
Most companies would use business analytics as a way to start deep learning. Deep learning at its core is studying customer behavior to understand various different things about the business. Deep learning is already becoming the norm as its being deployed through machine learning.
IoT
IoT would increase the variety of data an analyst has to study. As more things become digitized, more data would become available to businesses which can be used for a variety of purposes. In the future when there are many billions if IoT devices, business analytics would become a very powerful field full of endless potential.
In Conclusion
The field which predicts the future of other businesses also has to worry about its own. There are many questions over the future of business analytics. Would it be as labor dependent in the future as it is now? If not, does it bode well for a new generations of analysts to enter the field of business analytics?
In this article, we discussed the factors which are playing a key role in determining the future of business analytics. If you think the future of the field is safe and bright, you should come down for a demo class at the top business analytics institute in Delhi, Kapil Heera Academy.
About the Author
Abhishek Verma is a well-known business blogger and writer. His interests include business development and marketing. He is regularly featured is notable business websites.