Three imperatives driving the top trends in data & analytics for 2022

Data & analytics (D&A) leaders should embrace three imperatives when leveraging the top trends for 2022, according to Gartner, Inc. The key areas identified are:

1. Activate Diversity and Dynamism

The rise of adaptive artificial intelligence (AI) systems, such as AI engineering, drives growth and innovation while coping with fluctuations in global markets. Innovations in data management for AI, automated, active metadata-driven approaches, and data-sharing competencies, all founded on data fabrics, unleash the full value of data and analytics.

As one example, the trend “always share data” reinforces data sharing as a business-facing key performance indicator that an organization is achieving effective stakeholder engagement and increasing access to the right data to generate public value. The coronavirus pandemic and other recent large-scale global events created urgency to share data in order to accelerate independent and interrelated public and commercial digital business value.

By 2026, applying automated trust metrics across internal and external data ecosystems will replace most outside intermediaries, reducing data sharing risk by half.

2. Augment People and Decisions

To make insights relevant to decision makers, D&A leaders must deliver enriched, context-driven analytics created from modular components by the business. This includes prioritizing data literacy and putting in place strategies to address the scarcity of data and analytics talent.

Through 2025, the majority of CDOs will have failed to foster the necessary data literacy within the workforce to achieve their stated strategic data-driven business goals. The research shows that organizations that deal with the human elements of D&A are more successful than organizations that only consider technology. A human focus fosters broader digital learning, rather than simply delivering core platforms, datasets and tools.

The 2022 trends in this category include: context-enriched analysis, business-composed D&A, decision-centric D&A, and skills and literacy shortfall.

3. Institutionalize Trust

Achieving value from D&A at scale is only possible by managing AI risks and enacting connected governance across distributed systems, edge environments and emerging ecosystems.

AI is becoming more pervasive, yet most organizations cannot interpret or explain what their models are doing, resulting in a lack of trust and transparency. Organizations are not prepared to manage the risks of fast-moving AI innovation and are inclined to cut corners around model governance including security, escalating the negative consequences of misperforming AI models, such as incorrect business decisions or worse, those impacting life or death.

As AI regulations proliferate globally, they are mandating certain auditable practices that ensure trust, transparency and consumer protection. By 2026, the organizations that develop trustworthy purpose-driven AI will see over 75% of AI innovations succeed, compared to 40% among those that don’t.

Source:  Gartner Inc     Date: March 21,2022

Implications for Costa Rica

Digital transformation is the process of conversion of organizations, companies and governments, driven largely by the Fourth Industrial Revolution (or Industry 4.0). For Costa Rica, this is a potential field of action where this sector has found opportunities for development and diversification.

With +450 ICT technology companies and +100 of them developing high-value solutions in Industry 4.0, Costa Rica has become a regional hub for the generation of these technological solutions. Successful examples of this include the use of IoT sensors and drones in the agricultural sector, automation in the life sciences sector, and Big Data in retail, which is helping to identify consumption patterns and market trends.

According to the market study “Profile of the Costa Rican offer specialized in 4.0 technologies (2021)” by PROCOMER, the big data & analytics is the second most developed technological category among the group of companies that offer 4.0 services, with 45% of these companies, closely complemented by cloud technology.

It was found that the Costa Rican companies that specialize big data & analytics complements their offer with other 4.0 technologies, such as: artificial intelligence; 4.0 industry integration; internet of things, RPA and others.

These companies have extensive experience in the export of their technological solutions, with a long history in North America, a key market where the Costa Rican offer has diversified its operations and generated added value with its services.

Costa Rica works to consolidate itself as a regional hub in differentiated technologies. Do you want to know more about the opportunities in Costa Rica? Click here.