Data Analytics Technology Updates

Data interactions have multiplied by 5000% from 2010 to 2020. With increasing

consumers interacting in the digital space, a gold mine of user information is present for

business intelligence services.

This has compelled an increasing number of businesses to become data-driven. With

the growth in the importance of data over instinct, data analytics technology is also

enhancing its pace.

The blog explores how data can transform your business and highlights the importance

of this data in the business world.

By delving into data analytics technology updates, you can learn better to manage and

use your data to boost your business. We have identified three advanced data analytics

solutions

This guide is mainly made to help business executives understand the new data

analytics technology and provide resources to empower them to use data better.

Data Analytics Technology Updates

1. Google Analytics 4 (GA4):
Google Analytics 4, commonly known as GA4, is a new Google property that gives

importance to the customer journey. Google has decided to sunset its Universal

analytics by July 1, 2023 and has replaced it with GA4.

If you are using google analytics, you must consider GA4 migration to benefit from

robust and new features and to prevent data loss.

This tool is undoubtedly a treasure trove of valuable data for businesses. GA4

represents a significant shift in the way data is collected and analyzed, offering more

advanced features and capabilities compared to its predecessor.

Unlike the previous version of Google Analytics, this property is event-based, which

means it is more focused on user action than user visits. It can be used to track the data

of multiple devices.

Google is providing free GA4 migration to its clients. However, there is only so much

one can do with automated support and delayed responses from Google

representatives.

It is essential that clients with complex tracking infrastructure and ecommerce data

collection seek expert help to make sure that they receive proper guidance and

accurate implementation.
Data-driven businesses depend on accurate data to make major decisions, and with

embedded layers of tracking, there are many things that could go wrong during

migration to GA4.

How is it useful for business owners:

​ Understand your customer journey
​ Smooth data collection
​ Better Customer Profiling
​ Determining user preference
​ Enhancing the consumer experience
​ Retarget abandoned users
​ Improved ROI

What is new and What remains the same?

GA4 has enhanced cross-platform tracking capabilities. Unlike the traditional GA, GA4

allows businesses to track user interactions across multiple devices and platforms,

including websites, mobile apps, and even offline interactions.

This holistic view of user behavior provides a more comprehensive understanding of

customer journeys and enables businesses to optimize their marketing strategies

accordingly.

There are many changes that are coming with GA4, while there are many reports that

are the same as Universal analytics. Among the big changes that are visible to the

users are:
 ​ Bounce Rate and Average Session Duration are replaced with Engagement Rate
and Engaged Sessions, which provide insights into user interaction and session
quality.
​ Goals have been replaced with Conversions, and all conversions are now treated
as events, allowing for more flexibility in tracking and measuring user actions
aligned with business objectives.
​ The definition of a session has changed in GA4. A session is now counted when
a "Session start" event is triggered, generating a unique session ID for more
accurate cross-platform session tracking.
​ GA4 offers a drag and drop feature for customizable report creation, making it
easier to tailor reports to specific analysis needs.
​ Adding a secondary dimension in a report has been updated. Look for the "+"
sign next to the primary dimension to access and select the desired secondary
dimension.

Overall, GA4 is more user-friendly but it will take some time for the users to acclimatize

to it. It is made with the primary objective to protect individual data

2. Microsoft Fabric:
Microsoft Fabric brings AI into data. It is a cloud service that brings data management

services to your fingertips in one place. It is one place to discover and manage your

data, a perfect turnkey option for all information.

If you are familiar with Microsoft data services, Microsoft leveraged the three existing

Microsoft platforms: Power BI, Synapse Analytics, and Data Factory.

It took them to the next level with Microsoft Fabric. Microsoft Fabric is unique because it

is a data lake that can be used across different workloads.

It is an end-to-end analytics solution with full-service capabilities including data

movement, data lakes, data engineering, data integration, data science, real-time

analytics, business intelligence and data visulization services all backed by a shared

platform providing robust data security, governance, and compliance.

With the help of advanced data analytics solutions and the technology updates in data

analytics, it will be easier for companies to collect this unstructured data using tools

such as Power Bi consulting.

How is it useful for business owners:

 ​ Understand your customer journey
​ Smooth data collection
​ Better Customer Profiling
​ Determining user preference
​ Enhancing the consumer experience
​ Retarget abandoned users
​ Improved ROI

Fabric is aimed at removing glitches in connecting different tools in a data analytics

ecosystem. The lake-like architecture provides for more flexibility in handling data, but

the embedded AI aims to give a better structure to unstructured data in a more

seamless and intuitive manner.

As the product gains traction and more users migrate their data to take advantage of

this all-encompassing tool (as it promises), it will be interesting to see if the AI stands

the test of time.

Google Bard and ChatGPT

Google’s Bard has tried to catch-up with the latest advancements in AI led by OpenAI’s

ChatGPT and the slew of plugins that it has enabled. Bard is a conversational AI

chatbot that can generate text of all kinds.

Bard has not replaced Google Assistant, but it is much more formidable. Bard is based

on its own Large Language Model known as LaMDA which has been trained on billions

of data points and parameters.

However, Bard is still in the experimental phase and is continuously being trained on

feedback from the common public. ChatGPT has been proven to ease in which data

analytics is pursued.
It has the potential to revolutionize complex functions like integration, querying, cleaning

and even visualization.

Google explicitly mentions that Bard is not yet optimized for coding tasks and there may

be a future where Bard is more capable on this front. There have been some

experiments to compare how Bard fares against ChatGPT to accomplish data analytics

workflows and functions.

For example, when asked to make a given code in SQL more efficient, Bard was able to

provide 10 different solutions, all of them being sensible.

But when Bard was asked to explain a common syntax error in an R code, it was unable

to provide any help. Similarly, when it was asked to explain a line of code written in

Python, it failed to do so. This is where ChatGPT was able to ace both tasks.
In another example. Bard was asked to act as a data scientist and asked to write a

simple query to count users based on different categories.

Surprisingly, it was able to provide the code followed by an explanation. Interestingly,

when Bard was subjected to work on a more nuanced query, it provided three probable

solutions, at least one of which turned out to be a correct option.

When tested for data visualization services, Bard again provided the answer when

asked to ‘create a scatter plot’. However, when asked to draw a line plot using a

gapminder dataset, Bard got confused in assigning a parameter as a column or an

index despite being prompted in the command.

Hence, Bard is able to accomplish certain simpler data analytics functions. But it still

has a long way to go in being a leader in the field of data analytics. ChatGPT is ahead

in the game for now.

Source:https://www.datacamp.com/blog/bard-vs-chatgpt-for-data-science

https://www.digitaltrends.com/computing/how-to-use-google-bard/

Final Thoughts:
Harnessing the power of Advanced Data Analytics Solutions can be a game-changer for

businesses, enabling them to unlock valuable insights and enhance their operations

through data-driven decision-making.

It’s no secret that leading businesses and industry giants understand the importance of

data and leverage it to drive success.

By staying up-to-date with the latest advancements in data analytics technology and

partnering with a team of experts, businesses can access high-quality data analytics

services that can drive growth and innovation.

If you’re seeking reliable solutions, consider connecting with Quilytics, a reputable data

analytics company serving businesses in the US. We are dedicated to providing

top-notch data analytics services, empowering businesses to make informed decisions

and thrive in today’s data-driven landscape. Reach out to us to learn more about our

solutions and how we can help your business succeed.