Year-End Observations on Data Analytics and IT industry

Data Analytics- SG Analytics

 

One of the biggest shifts that I have witnessed across industries – be it financial services, automotive, media or technology, is that the business leaders are harnessing data with purpose more than ever in the past. An integrated approach towards harnessing the power of data with purpose along the entire data value chain was witnessed by us across all our engagements. Right from origination, aggregation, management, modernization, analytics to insights generation – the business leaders were harnessing data carefully. and mapping it to specific business goals or solving business problems to drive maximum value for their stakeholders.

As we move into 2023, there are a couple of more trends that we saw in 2022 while solving business problems for our global clients. First, we saw more businesses harnessing the power of data to drive decision-making. This data-driven approach was driven by artificial intelligence and machine learning technologies that helped to identify patterns and insights in data sets.
Secondly, we saw more businesses migrate to the cloud to take an advantage of the scalability and flexibility it offers. As data volumes continue to grow at an exponential rate, the cloud-based services become increasingly essential for businesses that want to be able to store and analyze large data sets.
Thirdly, security continued to be a top concern for businesses when it comes to data analytics. As more sensitive data is collected and stored, there will be a greater need for secure storage solutions and robust security protocols.-- said Mr. Sid Banerjee, CEO of SG Analytics-Global Insights and Analytics Company