
Everywhere you look, enterprises are seeking new ways to process data to improve business operations or resolve business problems. As every business relies on data for decision-making, the demand for (and adoption of) data science is at an all-time high. With the data analytics market poised to grow by $21.4 billion between 2023 and 2027, it is crucial to stay abreast of the latest developments in the world of data science.
Whether you are looking to improve the accuracy of demand forecasting, enhance the effectiveness of your equipment, or unearth problems your workforce is facing, you need to embrace the latest innovations to improve decision-making. That said, here are 8 data science trends to look out for in 2023:
1. There Will Be Immense Democratization of Data
In the coming year, data democratization will top the list of data science trends. For organizations looking to achieve the company-wide insights they strive for, the democratization of data will make data science tools accessible to more users – thus enabling them to do more with data.

There will be greater adoption of low and no-code applications, and self-service will increasingly become prevalent across industries. This will enable new processes and devices to push intelligent insights not just into the hands of data scientists but also citizen users, so they can do their jobs more effectively and efficiently.
2. Efforts Toward Data-Driven Consumer Experience (CX) Will Increase
3. The Focus on Data Governance Will Grow
The trend of data democratization will lead to a laser focus on data governance. In today’s hyper-regulated business environment, several organizations need to consolidate their data with a governance suite that provides controlled access to everyone in the organization. From being a nice-to-have function, data governance will become a pressing necessity, emerging as a competitive advantage in 2023.
4. AutoML Solutions Will Be in Demand
Another data science trend that will be big in 2023 is AutoML. Providing methods and processes to make machine learning (ML) available to everyone in the organization, AutoML solutions enable easier adoption of ML capabilities that can be used by anyone – without expert knowledge. Since these solutions can transfer data to algorithms and search for the best neural network architecture for the problem at hand, companies can save a huge amount of time, bringing down processing time from several hours to just a few minutes.
5. Hyperautomation Will Become the Mainstay
Hyperautomation initiatives will continue to grow at a relentless pace in 2023, enabling businesses to simplify operations and eliminate traditional silos. As an advanced technology that uses a combination of AI and RPA, hyperautomation will help in improving operational effectiveness across a range of processes: from employee training to process design, data management, cybersecurity, and more. By empowering businesses to undergo profound digital transformation, hyperautomation will help in minimizing manual labor and augment competitive advantage.

6. The Demand for AIOps and Adaptive AI Will Grow

- Better collect and aggregate ever-increasing volumes of data from multiple IT infrastructure components.
- Identify significant events and patterns related to application performance and availability issues, as well as diagnose their root cause or even resolve them without human intervention.
In the coming year, these AI-related technologies will allow operations teams to proactively respond to slowdowns and outages with end-to-end visibility and context.
7. Virtual Agents Will Get More Popular
In 2023, as achieving competitive advantage becomes more difficult, the dependence on virtual agents will grow. Organizations will increasingly utsource a variety of tasks to virtual assistants, from administrative duties to email management, content creation to research, and more. Such outsourcing will enable the workforce to focus on developing the business strategy or working on high-level projects.
8. NLP-Based Systems Will Further Expand
As businesses use data to build their future strategies, in 2023, NLP will play a bigger role in monitoring and tracking market intelligence, extracting crucial information from human text and speech using techniques like syntactic and semantic analysis.
The Way Forward with Data Science Services
The convergence of the digital world with AI, cloud, and IoT has brought about a massive transformation in the world of technology. In today’s data-driven world, if you want to extract maximum value from your data and deliver the right business outcomes but don’t have the expertise or experience, we can help!
At Ellicium, we deliver end-to-end Data Science Services: from putting together the right datasets to creating algorithms and integrating analytics. We provide solutions around conversational AI, chatbots, text/speech-based assistants to automate communication, lower manual efforts and help you achieve highly personalized customer experience. Through our managed services offering, we can help you make the most of your data while also ensuring that you stay a step ahead of emerging trends.
Contact us today to start your data journey in 2023 with confidence!