Data Analytics: The Challenges and the Latest Trends to Flourish in the Post-COVID-19

Abstract

For many industries, 2020 has been a turbulent year, but data analytics has been one field that has observed steady and substantial growth amid economic and market instability. We find ourselves in a very paradoxical position in 2020. A builder cannot properly build a house without the right instruments or materials, and a business cannot make the best decisions without the right data and consumer insights. The rapidly changing demands of customers are forcing businesses in all industries to continually spindle their strategies so as to remain competitive and drive sales—and data and analytics are the best way to do this. On the one side, to survive the global health crisis, we are told to separate ourselves socially. The hyperconnected world, on the other hand, helps us to communicate even more easily and more effectively, exchanging knowledge and ideas from the comfort of our homes across the world. This, in turn, urges industries to build tools to help us better explain concepts and encourage each professional to make a valid contribution. Such technologies certainly did not arise just this year, but they are affecting many areas of business and life now, and there is no exception to data analytics. This chapter presents the different trends that are gaining momentum in the industry during post-COVID-19.