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Steering the Future: Gartner’s Vision for Data and Analytics in 2024 and Beyond
Earlier this year, Gartner identified the top trends in Data and Analytics (D&A) that are driving a wide range of challenges, including organizational and human issues. The power of AI and the increasing importance of GenAI are changing the way people work, teams collaborate, and processes operate. Amidst this technological revolution, organizations that fail to leverage D&A, in general effectively, and AI, in particular, will not succeed.
One of the key trends is the strategic level revolution of industries by AI. D&A leaders must demonstrate a bet-the-business skill set on AI and earn trust to lead the AI strategy within the enterprise. With AI changing the way businesses are run, enterprises are heading towards a cost avalanche. D&A leaders must act by implementing a FinOps practice to establish and enforce standards and decrease expenses. Gartner predicts by 2026, chief data and analytics officers (CDAOs) that become trusted advisors to, and partners with, the CFO in delivering business value will have elevated D&A to a strategic growth driver for the organization.
Another trend is the management of complexity in D&A systems. Leading organizations are working to turn this chaos into something they can manage – complexity. D&A leaders need to embrace complexity by using AI-enabled tools to automate and improve productivity. This includes investing in augmented data management, decision automation, and analytics capabilities like natural language processing (NLP). Gartner predicts CDAOs will have adopted data fabric as a driving factor in successfully addressing data management complexity, thereby enabling them to focus on value-adding digital business priorities by 2025.
The future of D&A is promising and filled with opportunities. The trends identified by Gartner provide a roadmap for organizations to navigate the complexities of the digital world. By embracing these trends, companies can unlock deeper insights, drive more informed decision-making, and ultimately, achieve success in their respective industries.
