From Data to Dollars: AI-Driven insights for business growth

By Joan Romero , Martin Alejandro Infante and Matias Gudar (He, Him, His)

Imagine a world where data isn't just numbers on a spreadsheet, but a treasure trove waiting to be unearthed. A world where AI acts as your pickaxe, uncovering insights that fuel explosive business growth. That's the power we bring at Patagonian, and it's not some distant utopia – it's happening right now. By 2030, the global big data market is expected to soar to $684 billion.

But what good is a mountain of gold if you lack the means to mine it? That's where AI steps in, transforming your data graveyard into a gushing spring of insights.

Our AI and Innovation team has identified 5 key trends shaping the future of data analysis in 2024:

1. Augmented analytics

Bid farewell to deciphering cryptic charts. Artificial intelligence (AI) is transforming business operations around the world. Its integration into big data has not only improved data visualization and analysis but has also enhanced human capabilities in data processing. 

Augmented analytics applies AI to render data visually stunning and intuitively understandable, even for non-data experts. Joan Romero

Picture interactive dashboards that narrate stories, not just display figures. Visualizations and interactive dashboards offer intuitive comprehension of complex data. By harnessing machine learning and AI, it renders data accessible and comprehensible for users of all proficiency levels. AI-powered systems enable faster and more flexible decision-making while adapting to change. Using GenAI, some agents based on LLMs (Large Language Models) can evaluate data at different scales and feed different cases that could not be done with traditional methods.

Imagine tapping into the power of your data, even without being a tech whiz. That's the magic of Generative AI! At Patagonian, we bring this power to everyone. We've held workshops for our non-technical teams and even public tech talks, all to promote data analysis using this exciting technology.

But we don't stop there. We've also built cutting-edge solutions for our clients, featuring "agents" - AI superheroes that can interact with your databases, make decisions, and even take action on your behalf. With these technologies, your data can actually talk back!

What are the key benefits of augmented analytics?

• Automates time-consuming tasks, enabling users to focus on strategy.
• Enhances data analysis accuracy through machine learning algorithms.

• Improves data visualization and analysis
• Allows faster and more flexible decision-making.
• Enables data assessment at different scales, revealing hidden trends.

These are some related tools and technologies

Tools: GPT-4 Code interpreter, OpenAI GPT store, Tableau, Power BI, Looker, Microsoft Azure Machine Learning, Google Cloud AI Platform, Amazon SageMaker.

Stack: Python with libraries like TensorFlow, and PyTorch.

Technologies: Machine learning for automated data insights, LLMs for Natural Language Processing (NLP) and LMM (Large Multimodal Models) for Computer Vision for analyzing images.

2. Edge computing: 

Think of this as the data ninjas, collecting insights directly from your devices. No more waiting for data to travel far and wide, decisions happen in real-time, sharp and swift.

Edge computing offers a path to collect data from devices through low-latency connectivity, high-performance processing, and secure platforms. Martin Infante

It accelerates the journey of data from a device to a nearby edge and facilitates data management. Additionally, it obtains accurate data and valuable insights that help in making informed decisions, reducing costs, and enabling continuous operations. It is tremendously useful in the enterprise market, as it generates great opportunities to increase the use of digital experience.

What are the key benefits of edge computing?

• Provides real-time data and insights
• Enables continuous operations, by enhancing uptime and reducing data loss risks
• Improves customer experience and creates new opportunities for revenue growth.
• Offers low-latency connectivity, high-performance processing, and secure platforms.

These are some related tools and technologies: 

Tools: Microsoft Azure IoT Edge, Amazon Greengrass, Google Cloud Edge TPU, Spark Streaming. 

Technologies: Low-latency networking protocols like MQTT

3. Data governance

Robust frameworks ensure responsible data management and protect privacy. Data lakehouses are a new type of data storage architecture that is expected to become increasingly popular in 2024. Data lakehouses combine the best features of data lakes and data warehouses, providing organizations with a single, unified repository for all of their data.

Data lakehouses offer many advantages over traditional data storage architectures.

Unlike data warehouses, it offers the opportunity to store both structured and unstructured data bridging the gap between data lakes and data warehouses. Mati Gudar

This architecture unlocks the full potential of your data, reducing infrastructure and operational costs, enabling efficient management, and enhancing scalability. Data lakehouses also make it easier for organizations to comply with data privacy and security regulations.

These are some related tools and technologies

Tools: Cloudera Data Lakehouse, Snowflake, Databricks Lakehouse, Delta Lake, Apache Iceberg, AWS Services (Athena, Batch, Glue, S3, MWAA (Airflow), Step Functions, Lambda) and Azure Datalakehouse.

Technologies: Data lineage tracking, access control, data encryption.

4. Quantum computing 

Quantum computing heralds a new era in data analysis, promising unprecedented speed and problem-solving capabilities. With quantum computers significantly outpacing traditional counterparts, their application in data analysis is poised to revolutionize various industries. In 2024, we can expect to see more research and development in this area, with early adopters exploring real-world applications.

5. Data Mesh

Unleash the power of collaboration. Data mesh, a decentralized data management approach, empowers your teams to break down silos, enabling seamless sharing and collaboration. This translates to warp-speed agility and innovation. Treat data as a product, owned by domain experts who make it readily available and easily consumable by others. This shift unlocks the true potential of your data, fostering a culture of innovation.

Beyond agility, data mesh offers a strategic edge. Compared to traditional approaches, it's more scalable and resilient, adapting to ever-evolving data landscapes. Furthermore, complying with data privacy and security regulations becomes significantly easier with robust governance mechanisms embedded within the data mesh framework.

AI isn't just about fancy tech, it's about real results:

Patagonian is where AI expertise meets business strategy. We empower businesses with innovative software solutions, including AI Discoveries, digital transformation services and AI-powered software development solutions. 

But it's not just about the technology itself. Creating a robust data platform is the key to feeding these solutions, like machine learning models, with the high-quality data they need to perform at their best. Our AI and Innovation team leverages the latest trends to craft impactful solutions for several industries. We are experts in translating innovation into practical solutions, as evidenced by our successful client engagements:

• Augmented analytic case studies: 1. Leveraging AWS and Python, we developed a platform employing OCR and machine learning to extract, process, and aggregate medication side effect information, empowering laboratories with valuable insights.2. We developed an AI-powered tool to optimize oil well drilling design and execution. This tool grants access to relevant data from similar wells, enabling informed decision-making, proactive problem-solving, and cost-effective operations. This solution saves millions for our clients and ensures safer, more efficient wells. Now that's a win-win.

• Edge computing case study: we developed an open-source project that empowers users to build and manage their own cloud, offering a customizable and cost-effective alternative to traditional cloud providers (AWS, GCP, Azure). Its key features include a user-friendly interface, scalability to match any demand and robust security protocols. Benefits include dramatically reduced latency, ideal for applications like 5G, and increased control over data and infrastructure. This flexible solution finds application in diverse industries like telecommunications, media, energy, financial services and healthcare, enabling organizations to build a cloud tailored to their specific needs.

Embracing the AI evolution

As AI continues to evolve, Patagonian remains at the forefront, committed to harnessing its power to address real-world challenges. Beyond AI enthusiasts, we're strategic business partners equipped with vertical knowledge to tackle industry challenges. The above case studies are mere glimpses of how we leverage AI and data analytics trends.

We invite you to contact our team to witness how AI can turn your data into a powerful weapon, propelling your business to new heights.

Remember, it's not about having the most data, it's about using it the smartest. And with AI as your guide, the smartest path is just a click away.