The future of analytics is here, now. It’s visible in those organizations that have used analytics to adapt quickly to our time of unprecedented change and are now poised for even greater success. And it’s visible in the struggle of others to turn data and analytics into actionable insights despite having the resources to do so.
According to a recent report from Gartner, those organizations that struggle may need to embrace a concept called composable analytics.
Analytics Agility: Fast, Flexible, Composable
The Gartner report provides an insight into composable analytics, also known as hyperconverged analytics, wherein companies can combine analytics capabilities like pieces of a puzzle to form analytics applications that provide greater agility than traditional approaches. It also enables more reusable modules that can be swapped in and out as needed to further extend the capabilities of existing applications.
According to the report, “By 2023, 60% of organizations will compose components from three or more analytics solutions to build decision-oriented applications infused with analytics that connect insights to actions.”
It’s All About the Cloud: Cloud Ecosystem and the Analytics Economy
The cloud is a major factor behind the imperative for businesses to adopt composable analytics for multiple reasons. The first is that, as more and more organizations are moving to the cloud, they can explore what higher levels of analytics capabilities they can achieve there.
Most organizations will not implement a full analytics stack all at once when moving to the cloud but instead will typically do it in stages. A hybrid analytics architecture is vital to have in place during this process to maintain analytics workflows and reports. For its users to get the benefits of the cloud, open, distributed, composable analytics technology can help.
One benefit for organizations already on their journey to the cloud—it provides a sensible starting point to pilot composable analytics. Companies can then share analytics applications through a cloud-based analytics marketplace that drives collaboration.
Composable Collaboration: Empower Users Across Your Business
When it comes to collaboration, that’s when the concept of composable analytics truly has the potential to make a significant impact on an organization. The analytics platforms powered by composable architecture provide low- and no-code capabilities that allow for broader user accessibility and the design of customer-focused analytics applications.
This eliminates a significant amount of the work that fell on the IT department and empowers business users to create their own applications. It also ensures that analytics will be more accessible across the organization as a whole, driving innovation consistently forward.The analytics platforms powered by composable architecture provide low- and no-code capabilities that allow for broader user accessibility and the design of customer-focused analytics applications. Click To Tweet
Attributions: Gartner, Top Trends in Data and Analytics for 2021: Composable Data and Analytics, Julian Sun, Yefim Natis, Rita Sallam, Carlie Idoine, Joseph Antelmi, 16 February 2021