Data trends for 2016

Data trends for 2016

1. Real-time analytics overtake old-school reporting

Pools of data are growing bigger, and it’s expected they should be read and interpreted faster. Consequently, we need analysis to keep up. While weekly, monthly and yearly reports remain popular, 2016 will see us streaming more data in real time. It will become the new norm to view useful, meaningful updates on what your customers are doing (and decipher how that relates to your marketing efforts) on the spot. Live streaming will also enable you to query things as they happen, and get answers immediately when they matter most.

2. ‘The Internet of Things’ becomes automated

While we’ve been counting steps on our Fitbits and tracking down lost keys with our smartphones, the Internet of Things has been advancing in its tracks. This year, we’re seeing devices talk with one another more than ever before. Now your flowers can tell your irrigation system to water them. Your TV can tell the lights in your living room to dim. Home automation is a reality — and along with it, a wealth of new ways to understand how people work, as well as how we can seamlessly integrate products and services into our day-to-day lives.

3. Simple data makes a comeback

2016 will see simple data become a lot more popular. Simple doesn’t mean dumbed down, it means focusing on the metrics that matter. Right now we’re drowning in data. And as the number of data points we have access to increases, finding meaningful metrics can be a real challenge. Simple data has the benefit of revealing key insights while still being layman-friendly. Understanding data more easily allows you to work with your analysts collaboratively. Accomplish more by communicating in a language you can both understand.

4. Customer experience stands under the spotlight

While we love crunching numbers, this year we look forward to talking about feelings. By taking into account qualitative data (i.e. asking customers how they feel, what they think) and text analytics, businesses can generate insights that span the full customer experience. Considering both qualitative and quantitative data holistically facilitates better results.

5. Talent becomes more valuable than ever

Data-driven insights are becoming industry standard, and competition over savvy analysts is heating up. In fact, 43% of companies report that not having the right analytical talent is a key challenge for their business. As businesses struggle to source the right experts in-house, data outsourcing will become a priority for those who want to keep their competitive edge. Data will continue to evolve, transforming 2016 and beyond. What matters most, however, is what data can do for your business right now. To find out how Impress!ve can help take your business into the future, get in touch with us today.