Posted: 03 Jan 2019 Contributor: Therese Palmere
What Is Augmented Analytics and How Can It Help a Business?
Previously, the golden question for digital marketers was how to use Google Analytics to improve website rankings and traffic. But now, the golden question has become what steps can we take to improve our website’s overall effectiveness in context with how our users are engaging with our business?
Augmented analytics is the technology driven solution to that lengthy question that will not only revolutionize how business owners and marketers view data, but also alter how they plan and prepare for the future of their businesses as well. Before we get to that, what is augmented analytics? In this blog post, we’ll explore what it is and how it can help your business gain better insights.
Understanding Augmented Analytics
The reason all businesses need analysts is because they help turn business ideas into business capabilities. For example, data scientists help companies sift through complex data sets and interpret them so business owners understand where changes need to be made for their improvement.
These two responsibilities are imperative when it comes to the success of a business, but analysts and data scientists are hard to come by and expensive to employ. Not to mention, even when businesses do hire people in these two professions, they still need a good sized workforce to comb through all the data their tech has captured. In fact, data scientists spend about 80% of their time doing prep work.
Augmented analytics is the technology powered solution to this problem. In case you’re wondering, augmented analytics is an automated process powered by sophisticated artificial intelligence and machine learning capabilities that assess, analyze, review and interpret data to provide business owners with actionable steps they can use to improve their business.
What makes augmented analytics tools especially different from other business analytics tools and platforms is that augmented analytics crafts actionable steps for business owners within context by identifying particular business trends in your data. Essentially, augmented analytics hits two birds with one stone and is a more cost effective solution for entrepreneurs and business owners alike.
Augmented Analytics and Workflow
Augmented analytics will change your workflow as a business owner in a significant way. On top of saving time and money, augmented analytics software will provide you with actionable steps and solutions that will help your team increase productivity and effectiveness. Overall, this new way of looking at data will change your decision making process.
Even though augmented analytics is still in its infancy, Gartner predicts it will mature rapidly in the coming years, deeming it the future of data analytics. Currently, tools like Humanlytics and Brainspace both leverage the power of artificially intelligent systems and processes. These two platforms are just some augmented analytics examples of what business insights and data tracking will look like for the future of all businesses.
A couple brands that are currently using augmented analytics for their business are Real Eats, Zest Tea and Venture for America, which is a non-profit organization! On top of helping business owners understand where changes are needed to optimize the effectiveness of their business, augmented analytics can also help with customer retention as well.
Read More About: What Is Search for Augmented Reality and How Can It impact SEO?
For example, the data unearthed by augmented analytics will not only reveal where users are spending the most time and how they’re spending it, but will also tell business leaders what they can do to appeal to their target audience better. Marketers can cater their online campaigns to user preferences and strengthen their user journey. Over time, this will also help brands retain their customers because they’re now delivering more relevant information to specific users.
Benefits for Businesses of All Sizes
Augmented analytics is sophisticated technology that aims to simplify complex data sets and provide business owner—big and small—with solutions to all their digital problems. So, whether you’re an entrepreneur who’s just starting out, or a seasoned CEO with years of experience, augmented analytics can help improve your online presence.
For instance, by connecting your Facebook Analytics and Google Analytics accounts to your augmented analytics platform, you’ll be able to view your customers’ journey from beginning to end. Plus, augmented data analytics platforms can condense comprehensive amounts of data into aesthetically pleasing and easy to understand visuals that will aid in document comparison and business presentations.
These capabilities are where augmented analytics differs from other data tracking platforms; with them, you’ll clearly be able to see the cause and effect relationship your team has with your online data. For larger businesses, this is especially important because they can see any business trends their teams are looking to follow.
Tip Wrap Up
Augmented analytics is the future of data and analytics. The ability for a platform to automate, analyze and interpret big data sets, while offering suggestions to business leaders on what steps they can take to improve their online presence, is pretty futuristic stuff! We already have Alexa… soon, we’ll all have our own Jarvis!
Let’s review the most important parts of this post one more time:
- Augmented analytics definition: Augmented analytics is an automated process powered by sophisticated artificial intelligence and machine learning capabilities that assess, analyze, review and interpret data to provide business owners with actionable steps they can use to improve their business
- Augmented analytics will change a business’ workflow in a way that helps better inform their decision making process
- Augmented analytics not only helps with customization for digital campaigns, but also with customer retention
- Augmented analytics aims to help businesses of all sizes improve their online presence and the effectiveness of their business processes