Data analytics is typically something for data scientists, engineers and IT professionals. Nevertheless, this seems to be changing now as low-code/no-code (LC/NC) platforms take strides toward making analytics easy for business users, analysts and decision-makers without programming experience. They are in turn changing the manner in which an organization utilizes data for decision-making, process optimization and strategic growth.
Growing Demand for Low-Code/No-Code Analytics
Data is becoming a huge driving force for business decisions with each passing day. The need for data-driven insights is critical today as organizations often face challenges like a shortage of skilled data professionals, time consuming development cycles for analytics applications and the complexity of integrating multiple data sources. Low-code/no-code analytics platforms are trying to reduce these problems by allowing the users to drag-and-drop workflows with very less technical knowledge.
According to Gartner, by 2025, more than 70% of new enterprise applications will be low-code or no-code compared to almost less than 25% by 2020 (Ref: https://www.nic.in/blog/understanding-low-code-no-code-lcnc-platforms/#:~:text=The%20focus%20will%20shift%20from,less%20than%2025%25%20in%202020.). This is a telling shift toward using these platforms to simplify otherwise complex tasks, move digital transformation projects even faster and lengthen the reach of data analytics to all the parties.
What makes low-code/no-code analytics powerful?
- Ease of Use – LC/NC platforms offer users a virtually GUI interface whereby they just drag and drop through pre-built templates or get to automated workflows for modelling dashboards, reports and data visualization with practically no technical knowledge.
- Faster Deployment – Traditionally, it took a few weeks or months for approvals, requirements analyses, scopes and build, test and revalidate. But with LC/NC technology, enterprises can design/develop/test applications within hours to a few days. With time on their side, this also gives speedy insights and commands.
- Cost-Effectiveness – Hiring and maintaining data scientists and developers can be expensive for organisations. The LC/NC industry can afford individuals who need to know less in this specialized field and this will reduce the expenses with regards to data analytics in small and medium-sized businesses or start-ups. Space for growth depends entirely to some extent on budget variance.
- Diverse Data Source Integration – A few LC/NC analytics tools allow the use of database and cloud services like ERP, CRM and all the good data sources consolidated into one.
- Scalability and Flexibility – These platforms support business growth by allowing users to scale their analytics capabilities without significant investment in infrastructure or technical resources.
How Businesses Are Leveraging Low-Code/No-Code Analytics
Many sectors are already the beneficiaries of LC/NC analytics. For example:
- Retailers use them to monitor consumer actions, regulate stock and develop pricing tactics.
- Healthcare institutions use these analytics to understand the details of patient data, foster administrative efficiency and improve the general quality of care.
- Financial institutions will implement this type of system for the purpose of detecting a fraud, marketing and advertising and potential regulations.
- Manufacturers use these methods for predictive maintenance, deployment strategies and quality control.
Problems and Limitations
LC/NC analytics platforms offer countless advantages, but they come with some limitations like;
- Restricted Customization: These solutions may not be able to address the same issues in highly complex or specialized analytics.
- Data Security: It is important to make sure that the LC/NC solution used is secure and compliant with industry regulations when analysing particularly sensitive data.
- Scalability for a Large-Scale Enterprise: Small and medium-sized businesses can get great benefits from LC/NC, but large companies who manage significant amounts of data could possibly require a hybrid model that consists of both LC/NC complemented with traditional data sciences.
The Future of Low-Code/No-Code Analytics
The rapid implementation of LC/NC analytics shows their importance in the world of data analytics. The LC/NC analytics platforms are expected to have the automation feature of AI and machine learning, which may also integrate predictive analysis and natural language processing, making it user-friendly in their own right.
Conclusion
Low-code/no-code data analytics is changing the face of how companies approach data-driven decision-making. By allowing the business users to adopt analytics, the platforms will decrease their dependency on technical experts and accelerate their digital transformation. The advantages outweigh any limitations and therefore, no business intelligence is actually part of the future without LC/NC analytics. Accordingly, businesses adopting these technologies today are on the right path to remain competitive and reactive to their market.
We, at CRG Solutions, assist businesses to further empower by generating insight and opportunities. We believe organizations can automate, accelerate, and scale their analytics workflows with modern LC/NC platforms, making data-driven decisions faster and more accessible. Feel free to get in touch with us.
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