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Companies in banking and securities, healthcare, manufacturing, insurance, transportation and trade generate massive amounts of data. Yet deriving meaning from the data remains a challenge. Data Analytics plays a crucial role in unlocking the hidden potential of this information, serving as a guiding light for informed decision-making across various industries.
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Digital Cloud Data & AI Security Industries Ecosystem Contact Blog Augmented Analytics: Accelerating Data Insights Into Actions By Apurva Pathak / Senior Executive - Marketing / 27 March, 2019 Companies in banking and securities, healthcare, manufacturing, Explore Related Offerings insurance, transportation and trade generate massive amounts of data. Yet deriving meaning from the data remains a challenge. Data Analytics plays a crucial role in unlocking the hidden Digital Engineering potential of this information, serving as a guiding light for Cloud & Infrastructure informed decision-making across various industries. Massive amounts of data, generated across industries like Data and AI banking, healthcare, and manufacturing, flow from diverse sources. Through a process of standardization and Industry Expertise transformation, this data becomes ready for injection into the Analytics workflow. Here, powerful Big Data Analytics techniques are used to sift through the vast information, uncovering valuable Related Content pa?erns. These pa?erns are then transformed into actionable insights, often through the power of Data Visualization, providing the foundation for data-driven business decisions. AI's Hidden Gem: Boosting Value through Prompt Engineering By Shefali Vasave | Senior Content Writer Know More The Generative AI Mortgage Metamorphosis for Tomorrow By Bela Kher | Delivery Director Know More The Generative AI Moral Compass for a Responsible Future Fig 1: Data Analytics Pipeline By Nitin Damame | Director Technology Know More Ongoing Challenges In Analytics The journey of going from data to insights requires a team Uncovering Stage-Wise Analytics Maturity for Business consisting of data scientists, machine learning engineers, domain experts and analysts. They collaborate to make sense of this data By Prashant Puri | Senior Technical Lead – which requires a significant investment of time and resources. Know More Adding to that, data collection and pre-processing tasks like cleaning data, labeling data infamously account for 60-80% of the time of the Data Scientist. The analysis is a time-consuming manual task of selecting features, finding parameters to discover pa?erns. Insights to be inferred from these pa?erns are for decision-making, and business users require familiarization with sophisticated Visualization and Business Intelligence tools like dashboards and reports. Augmented analytics addresses these challenges by automating the analytics workflow to deliver unbiased decisions and impartial contextual awareness. It will transform users’ interaction with data – from how they consume it to how they act upon it. Augmented Analytics: The Road Ahead Gartner defines Augmented analytics as “A next-generation data and analytics paradigm that uses machine learning to automate data preparation, insight discovery and insight sharing for a broad range of business users, operational workers and citizen data scientists.” Augmented analytics will impact multiple stakeholders in the existing workflow. Automating data preparation will help the data scientists to spend more time on sophisticated tasks and decrease e?orts spent manually on cleaning data. Data scientists, engineers and customers can obtain insights at a much faster rate and with lesser bias compared to time-intensive manual methods. Augmented analytics will also lead to the rise of Citizen Data Scientists – a person who creates or generates models that use predictive or prescriptive analytics, but whose primary job function Featured Insights Featured Insights Featured Insights Featured Insights Featured Insights Featured Insights is outside the field of statistics and analytics. This empowers Digital Engineering Cloud and Infrastructure Data is a treasure trove of insights that bring a competitive edge. With a roadmap to manage and assessment, practices, engineering capability, and success - explore our proven impact in driving this ecosystems of products, tools, and industry them to interact with simple to moderately sophisticated analytic Data and AI Cyber Security Industries Partner Ecosystem Case Study Case Study Case Study Automation of Leasing Case Study A Project Management Fortifying the Banking Online Banking Solution for a Leading North American Application Migration From Case Study Document Automation Platform Development for a Mortgage ISV Insights with a More Unified Data Source Whitepaper The Triple Play for ISV Product Optimization Leader Aspires Be?er Frontlines with Improved Network and Security Bank AWS to Microsoft Product & Platform Engineering Cloud Application Modernization Data Modernization Data & Application Security Banking & Financial Services Microsoft applications that without augmented insight discovery would From digital possibilities to an agile cycle of digital Embrace complete cyber resiliency with security From D.R.E.A.M to decisive outcomes and client The high-tech world is converging into dynamic Application Development & Management Cloud Consulting Services Data Engineering Services Enterprise Security Strategy Hi-Tech AWS require deeper expertise. solution development - explore how everything connects Your cloud journey isn't the same as your peers. leverage data, we leverage AI and advanced analytics - governance. 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CloudOps & Data Center Services Security Operations Centre GCP and allows interaction using natural-language. It is achieved by Know More Zero Trust Security focusing on the four important areas: Know More ?. Augmented data preparation using machine-learning for collating, cleansing and enrichment of data. ?. Advanced analytics automates feature selection, hyperparameter tuning in modeling, pushing people in the workforce without the specialized skill set to handle advanced analytics.
?. Augmented data discovery generates the most relevant statistical insights. It recommends the best way to display data, Digital Cloud Data & AI Security Industries Ecosystem Contact enabling business people and data scientists to understand and visualize clusters, correlations, forecasts and trends without building models or write algorithms. ?. Integrating Natural-language query and conversational analyticswith data discovery can drive analytics adoption by allowing business users to interact with data using natural language. This can be carried out even on mobile devices to query the most pertinent actionable insights by interacting with digital assistants. Fig 2: Traditional Vs Augmented Analytics Workflow Tools To Drive Augmented Analytics Augmented analytics tools are in their nascent stages. Many cloud providers are working towards providing advanced analytics with Auto ML solutions that aim to enable any developer to use ML for building high-quality models with minimal expertise. ?. Google Cloud Platform’s Cloud AutoML: It enables developers to build state-of-the-art models by interacting with simple user interface within minutes. It also helps with tedious jobs of labeling data. AWS’s ML services provide fully managed automated model building, training, model tuning and deploying capabilities. ?. Azure’s Automated ML: It currently supports regression and classification problems. ?. Auto-sklearn AutoML: Open source modules like sklearn have auto-sklearn toolkit for algorithm selection and hyperparameter tuning by leveraging Bayesian optimization, meta-learning and ensemble construction. ?. H2O AutoML: There are platforms like H2O that make it easy for the non-experts to perform experiments with machine learning using its AutoML functionality that automatically runs through all the algorithms and their hyperparameters to compare and build the best model. These tools will reduce time-consuming exploration, identification of false insights, e?orts spent on creating and building models, thereby helping data scientist to focus on more meaningful tasks. Visualization Of Pa?erns Through BI Tools The pa?erns generated through these models can be visualized by various BI tools, one of which include Qlik that plots auto- generated charts, forecasting important features and important correlations from data. Qlik bridges the gap between visual discovery and conversational analytics by interfacing through a Bot (CrunchBot) enabling users to query using Qlik Sense UI, Slack, Skype, Salesforce Chat and Microsoft Teams. It also powers interactions by voice to services like Amazon Alexa. Analytics Game Changer Adoption of these augmented analytics tools will minimize time- consuming exploration tasks, help in identifying biases and reducing errors. Advanced analytics will propel the transition towards data-centric business without completely relying on data science professionals. Automation of the data to insights using augmented analytics will enable the enterprise workforce towards an accelerated decision-making process. Reference [1] Gartner.com [2] Azure.microsoft.com View Previous Blog View Next Blog Featured Insights Featured Insights Featured Insights Featured Insights Featured Insights Featured Insights Digital Engineering Cloud and Infrastructure Data is a treasure trove of insights that bring a competitive edge. With a roadmap to manage and assessment, practices, engineering capability, and success - explore our proven impact in driving this ecosystems of products, tools, and industry Data and AI Cyber Security Industries Partner Ecosystem Case Study Document Automation Platform Development for a Mortgage ISV Insights with a More Unified Data Source Whitepaper The Triple Play for ISV Product Optimization Leader Aspires Be?er Frontlines with Improved Network and Security Bank AWS to Microsoft Case Study Case Study Case Study Automation of Leasing Case Study A Project Management Fortifying the Banking Online Banking Solution for a Leading North American Application Migration From Product & Platform Engineering Cloud Application Modernization Data Modernization Data & Application Security Banking & Financial Services Microsoft Application Development & Management Cloud Consulting Services Data Engineering Services Enterprise Security Strategy Hi-Tech AWS From digital possibilities to an agile cycle of digital Embrace complete cyber resiliency with security From D.R.E.A.M to decisive outcomes and client The high-tech world is converging into dynamic Get Started Think Tomorrow With Xoriant Streamlined Automation for a Global Retail Leader Migration & Workload Management with MS Azure Shielding Right Brochure X·CELERATE Invoice Overview solution development - explore how everything connects Your cloud journey isn't the same as your peers. leverage data, we leverage AI and advanced analytics - governance. 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