• Home
  • About Us
  • Contact Us
  • Privacy Policy
  • Special Offers
Business Intelligence Info
  • Business Intelligence
    • BI News and Info
    • Big Data
    • Mobile and Cloud
    • Self-Service BI
  • CRM
    • CRM News and Info
    • InfusionSoft
    • Microsoft Dynamics CRM
    • NetSuite
    • OnContact
    • Salesforce
    • Workbooks
  • Data Mining
    • Pentaho
    • Sisense
    • Tableau
    • TIBCO Spotfire
  • Data Warehousing
    • DWH News and Info
    • IBM DB2
    • Microsoft SQL Server
    • Oracle
    • Teradata
  • Predictive Analytics
    • FICO
    • KNIME
    • Mathematica
    • Matlab
    • Minitab
    • RapidMiner
    • Revolution
    • SAP
    • SAS/SPSS
  • Humor

2020 Data Trends: Data Becomes The New Language For Innovation

February 1, 2020   BI News and Info
 2020 Data Trends: Data Becomes The New Language For Innovation

Have you heard about the Riddell Speedflex Precision Diamond Helmets that feature a 3D-printed liner customized for each athlete? This innovative production approach is aimed at making football safer by giving players extra protection to prevent concussions. Riddell is leveraging data to make these enhancements possible.

Data to define the future

The best way to predict the future is to create it. Riddell tapped the wealth in data to create a safer future for players. In a true sense, innovations are our way of creating the future.

Thanks to the ever-growing data leading the way, the most unusual creations of our times have emerged. Data-driven innovations now form a key growth pillar for most organizations that create significant competitive advantages.

Data-driven outcomes to foster new industries, processes, and products

Collect data. Zero down on the precise data set you need, and render it into products and solutions that perform better. Data sets are becoming a core asset in the economy. Continually emerging data-driven insights showcase how far we’ve come and challenge us to create new things.

Data will continue to add value to multiple aspects of human life and business parameters. With cognitive systems becoming more and more efficient, workers and organizations will be impacted by the power of more information, and text, speech, and images will provide more data sources for broadening analytics projects. Image recognition, text recognition, and face recognition will continue to be significant inputs for analytics applications.

Data-driven innovation hubs and startups

Businesses will create data-driven innovation hubs housing expertise and facilities to help industrial sectors become more innovative through data. The research will create spin-outs, attracting startups and established businesses and driving public- and private-sector investment.

Fintechs will be the winners in innovation hubs as they focus on niche innovations in fraud management, creating new products and simplifying processes. Utilities will witness a reboot.

Customer experience management

A data-driven company is only as good as the insights it gathers. Creativity will drive artificial intelligence and machine learning applications as we optimize the systems and platforms, and the confluence of data from various sources will enable the creation of more competent, reliable, and dependable products.

Collaboration will become more common as new niche entrants cooperate with tech giants that are sitting on a wealth of user data. 2020 will witness changes in platforms through data, and many new platforms will be born from insights within data sets.

Social innovations

2020 will be a time when citizens will benefit from the data revolution as it helps economic growth, creates social change, and optimizes public services. With enough data available, governments will increase the use of data-driven innovations for sustainability and disaster-management initiatives.

Frugality in data capture and retention

With IoT and 5G leading the way, data will grow in spread, scope, and scale in 2020, increasing the problem of too much data. To add to the problem, a lot of data has a limited lifespan. At some point, it loses relevance and becomes inexact or outdated. But often, it is held in the mistaken belief that someday it might become useful. The adage “garbage in/garbage out” will be more valid than ever.

Organizations will start evaluating data strategies and reexamine the vast stores of data they have no idea what to do with and no hope of learning anything useful from. Unless they put good data governance in place, the organizations already struggling to store and analyze their data will drown in it.

Organizations will come to terms with the fact that collecting and storing data costs money – data requires storage, electricity to power it, and, if the information is sensitive (e.g., customer records), attention must be paid to security and data compliance. So they will become frugal in their pursuit of data.

See what else is on analysts’ radar in “Deloitte Report: Tech Trends 2020.”

Let’s block ads! (Why?)

Digitalist Magazine

2020, Becomes, data, Innovation, language, trends
  • Recent Posts

    • Accelerate Your Data Strategies and Investments to Stay Competitive in the Banking Sector
    • SQL Server Security – Fixed server and database roles
    • Teradata Named a Leader in Cloud Data Warehouse Evaluation by Independent Research Firm
    • Derivative of a norm
    • TODAY’S OPEN THREAD
  • Categories

  • Archives

    • April 2021
    • March 2021
    • February 2021
    • January 2021
    • December 2020
    • November 2020
    • October 2020
    • September 2020
    • August 2020
    • July 2020
    • June 2020
    • May 2020
    • April 2020
    • March 2020
    • February 2020
    • January 2020
    • December 2019
    • November 2019
    • October 2019
    • September 2019
    • August 2019
    • July 2019
    • June 2019
    • May 2019
    • April 2019
    • March 2019
    • February 2019
    • January 2019
    • December 2018
    • November 2018
    • October 2018
    • September 2018
    • August 2018
    • July 2018
    • June 2018
    • May 2018
    • April 2018
    • March 2018
    • February 2018
    • January 2018
    • December 2017
    • November 2017
    • October 2017
    • September 2017
    • August 2017
    • July 2017
    • June 2017
    • May 2017
    • April 2017
    • March 2017
    • February 2017
    • January 2017
    • December 2016
    • November 2016
    • October 2016
    • September 2016
    • August 2016
    • July 2016
    • June 2016
    • May 2016
    • April 2016
    • March 2016
    • February 2016
    • January 2016
    • December 2015
    • November 2015
    • October 2015
    • September 2015
    • August 2015
    • July 2015
    • June 2015
    • May 2015
    • April 2015
    • March 2015
    • February 2015
    • January 2015
    • December 2014
    • November 2014
© 2021 Business Intelligence Info
Power BI Training | G Com Solutions Limited