Data analytics news

Here are some recent news articles and updates on data analytics:

Industry Trends

  1. Cloud-based data analytics: According to a report by MarketsandMarkets, the cloud-based data analytics market is expected to grow from $12.6 billion in 2020 to $35.2 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 21.1%.
  2. Artificial intelligence (AI) in data analytics: A report by ResearchAndMarkets.com predicts that the global AI in data analytics market will reach $34.4 billion by 2025, growing at a CAGR of 34.1% from 2020 to 2025.
  3. Big data analytics: A report by MarketsandMarkets forecasts that the global big data analytics market will reach $243.4 billion by 2025, growing at a CAGR of 12.4% from 2020 to 2025.

Company News

  1. SAS Institute: SAS has launched a new cloud-based data analytics platform, SAS Viya, which provides advanced analytics and machine learning capabilities.
  2. Tableau: Tableau has announced the launch of Tableau 2022.1, which includes new features such as augmented analytics and enhanced data storytelling capabilities.
  3. Microsoft: Microsoft has announced the general availability of Azure Synapse Analytics, a cloud-based data analytics platform that combines the capabilities of Azure SQL Data Warehouse and Power BI.

Research and Studies

  1. Data quality: A study by Experian found that 62% of organizations believe that data quality is a major obstacle to achieving business success.
  2. Data governance: A report by Gartner found that 75% of organizations have a data governance program in place, but only 25% have a formal data governance framework.
  3. Data science: A study by Kaggle found that 71% of data scientists spend more than 50% of their time cleaning and preprocessing data, highlighting the need for more efficient data preparation techniques.

Regulatory Updates

  1. GDPR: The European Union's General Data Protection Regulation (GDPR) has been in effect since May 2018, and organizations are still grappling with its implications for data analytics and data management.
  2. California Consumer Privacy Act (CCPA): The CCPA, which went into effect in January 2020, requires organizations to provide consumers with more transparency and control over their personal data.
  3. EU's Artificial Intelligence Act: The EU has proposed a new AI Act that aims to regulate the development and use of AI systems, including those used in data analytics and machine learning.

Innovations and Applications

  1. Predictive maintenance: A study by McKinsey found that predictive maintenance can reduce maintenance costs by up to 30% and extend equipment lifespan by up to 20%.
  2. Customer analytics: A report by Forrester found that customer analytics can help organizations increase customer retention rates by up to 20% and reduce customer acquisition costs by up to 30%.
  3. Supply chain analytics: A study by Deloitte found that supply chain analytics can help organizations reduce supply chain costs by up to 15% and improve supply chain visibility by up to 25%.

These are just a few examples of the many news articles and updates on data analytics.