Gartner reveals top data and analytics trends for 2024

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Management consulting firm Gartner disclosed the key data and analytics (D&A) trends for 2024 at the Gartner Data & Analytics Summit. Ramke Ramakrishnan, VP Analyst at Gartner, highlighted the pivotal role of artificial intelligence (AI) and the growing significance of GenAI (generative AI), underscoring their influence on work dynamics, team collaboration, and operational processes.

During the summit, analysts unveiled the top D&A trends that IT leaders must integrate into their strategies to navigate the evolving landscape effectively.

Betting the Business

As AI continues to reshape industries on a strategic level, D&A leaders are urged to exhibit a “bet-the-business” mindset towards AI adoption and earn trust to spearhead AI strategies within their enterprises. Ramakrishnan stressed the imperative for D&A leaders to demonstrate value by aligning capabilities with business outcomes, warning against the repercussions of misallocated resources and underutilised investments.

Gartner forecasts that by 2026, chief data and analytics officers (CDAOs) who establish themselves as trusted advisors to CFOs will elevate D&A to a strategic growth driver.

Managed complexity

The intricacies of D&A systems pose challenges, with redundancies often leading to chaos and increased expenses. Recognising complexity as a reality, leading organisations are working to manage it effectively. Embracing complexity involves leveraging AI-enabled tools for automation and productivity enhancement. Gartner predicts widespread adoption of data fabric by CDAOs by 2025, enabling them to tackle data management complexity while focusing on value-driven digital business priorities.

Be trusted

With the rise of GenAI, concerns over data reliability and AI ethics are mounting, necessitating a concerted effort to foster trust. Ramakrishnan highlighted the role of decision intelligence practices and responsible AI governance in building trust among stakeholders. Ensuring data readiness for AI applications, including ethical governance and bias mitigation, is paramount in bolstering trust.

Empowered workforce

AI adoption should empower, not threaten, the workforce. Organisations must invest in AI literacy among employees and adopt adaptive governance practices. Ramakrishnan stressed the importance of a trust-based approach to managing information assets, emphasising the need for tailored AI training programmes. Gartner predicts increased funding for data literacy and AI literacy programmes by 2027, driven by enterprises’ struggles to realise the expected value from generative AI.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow