Analytics were one of the fastest growing technology trends in 2014 and momentum is continuing to build, according to Deloitte Analytics' recent report, Analytics Trends 2015: A Below-the-Surface Look.
"Put simply, analytics is becoming both the air that we breathe — and the ocean in which we swim," the report says.
Deloitte believes eight trends will dominate the world of analytics in 2015.
1. Quadruple Down on Data Security
2014 was a rough year for data security. Deloitte says business and tech leaders are deeply anxious about data security in 2015 and for good reason. Data is exploding all around us: mobile data generation, real-time connectivity and digital business have changed the nature of the game when it comes to protecting data assets, and made it harder too.
As a result analytics have an increasingly important role to play in data security. Analytics are already transforming intrusion detection, differential privacy, digital watermarking and malware countermeasures.
"Securing data is really the difference between remaining operational and dealing with a serious crisis," says John Lucker, principal, Deloitte Consulting, and Deloitte's global advanced analytics and modeling market leader. "And companies can't wait for legislation to save the day. Without a keen focus on data security now, some organizations might not have a bottom line to worry about. But it’s not all horror stories. Security is also about building brand reputation and trust. Strong security practices, including the use of advanced analytics capabilities to manage privacy and security challenges, can set businesses apart from the competition and create comfort and confidence with customers and consumers."
Lucker notes that one thing companies can do right away is elevate the role of the executive responsible for data security in the organization.
"For example, in consumer products and retail companies — where consumers are looking for reassurance around privacy and security issues — it is important to have a visible (and hopefully visionary) senior executive in charge of security evaluating and meeting business, technology and consumer security needs. Consumers need to know that someone is looking out for their interests."