Import.io exhibited at the Gartner Data & Analytics conference this week in Grapevine, TX as part of the British Consulate’s booth. After talking with attendees in data analytics roles and other vendors, I came away with several thoughts on data industry trends.
Data analytics is about telling stories and forming predictions
More organizations are starting to look beyond graphs and focus on forming stories with the data they’re gathering. With the stories analysts craft, businesses can understand behaviors in their market, identify patterns or changes, and make predictions based on those insights. These predictions can empower decision-making processes ranging from marketing, energy management, or even personnel decisions.
Web data can enrich and supplement internal data
Good data teams already are capable when it comes to effectively manage the data they’re already creating and tracking, but great data teams are always looking to supplement their data sources, especially for machine learning. Many of the attendees we met were often mentioning data that could help enrich their stories, such as weather, governmental, or even gas pricing data. By extracting data from the web, these businesses can add those and many more data points to their collection.
Demand for data in the CPG industry is booming
While nearly every sector of the economy was represented in Grapevine, one of the hardest to miss was the CPG (consumer packaged goods) industry. Common themes from these companies were a desire to utilize advanced algorithms to increase the efficiency of their supply chain, tap into new data sources to gain knowledge about their customers, and find new cost-effective ways to monitor prices of their competitors.
Everyone has their own unique way of looking at data
One of my favorite parts of the past few days was talking to so many different people from all sorts of different businesses and backgrounds, excited to connect and share how they work with data. Just walking around the different exhibitors and seeing all the cool ideas enabled by the plethora of data we live in was inspiring. At the British Consulate booth alone, there were companies tackling data analytics, anticipating consumer behavior with applied prediction, creating new ways to visualize connected data, revolutionizing customer feedback, and of course, enabling the world’s data.
Successful teams start with effective personnel and data management
Throughout the summit, there was a heavy emphasis on effective management being the key to having a functional team. This starts with having the right team in place and a strategy that enables them to be agile and collaborative. From there, the journey continues with proper data governance, architecture design, and implementation of platforms such as Hadoop to manage an ever-growing supply of data.