Industry executives and experts share their predictions for 2023.  Read them in this 15th annual VMblog.com series exclusive.

Predictions for Data Analytics in 2023: The Year of Analytics Democratization

By Members of Alteryx

Over the years, data has filled businesses with promises that it can empower them to make insightful decisions. But the reality was that not everyone had the necessary knowledge to best leverage data. To fulfill that commitment, the future relies on turning every knowledge worker into a citizen data scientist.  

A recent survey found that organizations experience higher ROI from analytics investments when they upskill employees as part of building a data driven culture, deploy easy-to-use analytics across the enterprise, and ensure alignment between IT and the rest of the business.

As we ring in the new year, we’ll see enterprises revolutionize their analytics strategies across departments and teams by repositioning their culture to be data-first and insight driven. Experts at Alteryx anticipate this trend will continue to accelerate in the year ahead and have shared thoughts outlining the developments they believe we will see in 2023.

1.   More knowledge workers in non-data science roles will turn to advanced analytic techniques

“Thirty years ago, a marketing professional didn’t need to know about the internet. Fast forward to today and it’s an integral part of just about any job, including marketing. Analytics is on a similar trajectory, and that will become even clearer in the coming year. We’ll see more companies enable knowledge workers throughout their business to garner impactful insights from their data. The combination of no-code/code-friendly cloud analytics solutions and increased investments in data literacy and upskilling will take data analytics out of the realm of specialty roles and into the entire organization.” – Alan Jacobson, Chief Data & Analytic Officer

2.   Data-driven companies will modernize the reskilling of employees

“Data analytics are now a key investment for companies. It is imperative for every organization and every leader to match that investment by allocating resources into modernizing the reskilling of employees. Employees skilled in data literacy and analytics are the most important asset to every business looking to make strategic decisions with data. In 2023, we will see an acceleration of modern analytics learning opportunities, such as Datathons, internal data analytics user groups, extend to knowledge workers within lines of business. Leaders are also enabling employees with ‘time on the job’, such as 10 percent of their work week, to invest in the development of new skills or something they are passionate about. By infusing fun, hands-on experiences, and encouraging collaboration between technical data experts and knowledge workers, organizations and leaders will start to see their workforce investments pay in dividends.” – Libby Duane Adams, Chief Advocacy Officer

3.   Blurring the lines of business

“In three to five years, we will see more transferable skill sets that drive solutions across traditional business functional roles. Instead of working in distinct lines of business such as finance or human resources, they will use their process automation and data analytics skillsets to find solutions for business problems across the organization.” – Steve Brodrick, Chief Transformation Officer

4.   Utilizing analytics to navigate uncertainty – the rise of no code solutions, cloud analytics

“In 2023, there will be a rise of no-code analytical applications driven by the need to make data informed business decisions across functions. No-code tools reduce the experiential hurdle needed to deliver value from data in the cloud, whilst simultaneously delivering on the original vision of cloud technology – giving people the power they need to have their voices heard. Organizations will continue their investment in no-code/code-friendly, self-service cloud analytics platforms that allow users across lines of business to participate in the data analytics process, rather than a few data experts and specialists. This will allow business users with domain expertise to surface valuable insights and make them widely available across the organization.” – Suresh Vittal, Chief Product Officer

5.   And, the time for code-friendly solutions is here

“One of the trends we are expecting is no-code tools being complemented with code-friendly capabilities. Providing a code-friendly environment allows professional developers to use the same platform as citizen developers. It also allows organizations to blend the speed and quick development time of no-code platforms with the power and flexibility of code-friendly solutions. The combination of no-code and code-friendly environments will satisfy everyone across the enterprise no matter how much coding experience they have.” – Jay Henderson, SVP, Product Management

6.   In inflationary economies, software will serve as the antidote

“Despite the economic downturn, companies are going to push forward with software solutions that will deliver efficiency by automating core processes and removing manual costs. While most will think of this as applying to operational activities, it applies equally to analytics.  Analytic tools that leverage AI and ML will amplify the ability to do more with less and free up meaningful time for data professionals to focus on insights and outcomes versus cleansing, transforming, and pipelining.  Now more than ever, analytics automation helps streamline data operations while also helping organizations understand how best to diagnose and respond to increasing risk and uncertainty.” – Adam Wilson, Senior Vice President & General Manager, Designer Cloud Powered by Trifacta

Looking beyond 2023

Bottom line: 2023 will bring a shift toward building a culture of analytics across organizations where spreadsheet jockeys become citizen data scientists. With no-code/code-friendly and self-service solutions, more organizations will reap the benefits of data-driven decisions.

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