Top 3 Must Have Data Technologies in 2019

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In the world today, everything we do generates data. It may be how far you've walked, where you've traveled to or the things you searched on the web. Data technologies receive your data as input and perform technical or predictive analytics by retrieving, processing, storing, securing and managing your information. These technologies have proven to be indispensable in the modern world with a high productivity rate in businesses, healthcare, insurance, investment services, financial services, and telecommunication. If you are looking into using data technologies to your advantage and want to know the best and accurate technologies available to you, well, here’s the Top 3 must have data technologies in 2019.

1.      Artificial Intelligence- This technology is almost as old as digital computers. Artificial intelligence makes use of algorithms. Algorithms are sets of instructions, input for a computer to execute. Artificial intelligence creates a technology that helps machines and computers function in an intelligent manner, just as humans. It could be in problem solving and reasoning by employing economics and probability techniques. Artificial intelligence also adopts data engineering processes. They gather information into their database and reforms them into what is known as “Knowledge Representation”. It could also perform functions like learning, planning and speech recognition, ability to manipulate and move objects, perception (with the use of sensory inputs) and reasoning. Artificial intelligence is a major aspect of robotics.

2.      Augmented Analytics- Gartner, one of the top marketing research companies in the world, termed augmented analytics as “The Future of Data Analysis”. Augmented analytics collects data from multiple sources, prepare the data, detect data signals, analyze the data, generate information and insights and finally, give an output to the user. Most times, these data technologies need trained experts for control and most of them have zero or little knowledge on the prospects of a business. Augmented analytics is programmed in such a way that a company doesn’t have to depend on said experts through the use of automated machine learning and AI algorithms.

3.      Blockchain Technology- this is a series of unchangeable data controlled by a series of computers not owned by a single person. It is like a chain of interwoven computers that makes it possible for the information to pass from one point to the other in a safe and automated way. It works just like the internet. It has proven to be helpful in the financial world. It eliminates the need for middlemen in business transactions. There is no central control system in this data technology and so, there is a very low tendency that it could be hacked. The data is unchangeable so, there is no chance of data adulteration. Blockchain is also one of the most transparent data technologies that enable data tracking and a high level of accountability.

Data technologies have proven to increase the efficiency of business management by creating automated languages that make processing faster and accurate. It is a business asset that manages digital information giving useful features that are indispensable to the growth of businesses and entities.