Why Augmented Analytics Is the Hottest Sector in Tech

You may not have heard of it, but “augmented analytics” is going to be one of the best sectors for investing in 2019 and beyond.

This is a revolutionary application of artificial intelligence (AI), and its market is expected to grow from its current $4.6 billion to $18.4 billion by 2023.

That's 300% growth, for an entire industry, in just four years. That's making AI stocks some of the hottest investments on the market right now.

This industry growth will come from both well-known, cash-rich firms, as well as smaller niche players.

To help you cash in on this explosive sector, we uncovered three companies poised to control the market. They've already invested heavily in making complex data useful to enterprises.

Before we get to the three best AI stocks to buy in 2019, here's why this technology is so revolutionary – and why you can't afford to stay away…

Why Augmented Analytics Is the Hottest Sector in Tech

Yearly revenue for business data and analytics worldwide has grown from $122 billion in 2015 to $186 billion this year. It's expected to grow to $260 billion in 2022, a 40% leap in less than three years.

This doesn't look to be slowing down, either.

In a 2014 study by Accenture, 79% of executives agreed that companies failing to harness Big Data will die out. Eighty-three percent of the same pool were reported to have invested in Big Data projects to stay competitive.

This is starting to ring true. Businesses currently have such an overwhelming amount of data on their customers and operations that they've struggled to make it useful. They are beginning to seek AI and machine learning (ML) solutions to help sort through their massive stockpiles of data.

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Different AI and ML engines can automate the process of sifting through data and presenting it to users in an intuitive, actionable format. That means taking piles of raw data and converting it into easily digestible graphs, charts, or other visualizations.

This obviously makes an employee's life easier, which makes the business more lucrative. They have faster access to data that helps them make informed decisions. So when employees have the right level of access to the right data, it raises the company's overall productivity.

In this case, businesses want AI-driven analytics tools – or augmented analytics – made accessible to everyone. Some larger companies already got a head start on this trend, but businesses far and wide will be adopting it over the next few years.

Most organizations currently use combinations of open-source AI and ML technologies to support their needs. But Gartner, the leading global research and advisory firm, predicts 75% of AI- and ML-driven business solutions will be provided by commercial vendors by 2022.

That's where this is turning into an opportunity for investors like you.

Gartner predicts this growth in AI stocks (and the 673% earnings growth of one of our top AI stock picks) will be driven by new commercial demand for augmented analytics…

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Gartner recently published its annual list of the most disruptive data and analytics technology trends, and augmented analytics came out on top.

Gartner has nailed these predictions before, like when blockchain technology took the top spot in 2016. Bitcoin value surged almost 2,000% less than a year later, affirming the need for the digital ledger technology.

On the list this year, augmented analytics beat out blockchain and a host of other AI, ML, and analytics functions like explainable AI and augmented data management.

Augmented analytics will top all business applications of AI because it fundamentally changes the way data is used across an enterprise – it makes it more useful to more people. Gartner sees this being a main factor behind purchases of business intelligence platforms, and it should set apart companies adopting the most affordable, effective options.

Now that you know a little about the market, here are our picks for the top three augmented analytics firms. Some of these companies will be familiar to you; some will not. They can play different roles in your portfolio, but you can expect them all to turn profits going into 2020.

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We've lined them up from one solid defensive play to a young, speculative small-cap stock with the potential to explode. Here's our first pick…

AI Stock to Buy No. 1: Domo Inc.

Domo Inc. (NASDAQ: DOMO) is a young rising star in the data analytics world. It only has 116 clients, but they're big clients. Executives from companies like Target (NYSE: TGT), Southwest Airlines (NYSE: LUV), Sephora, and National Geographic have been using Domo's software to gather real-time, top-down information about their businesses conveniently from their phones.

CEO Josh James attributes their 95% retention rate to an unparalleled user experience. The Domo system was all developed in-house as the company focused on putting together an original product that couldn't be mimicked elsewhere.

Now, the unique cloud-based platform allows end users to drill down from global, to national, to local operations – even down to individual retail items – and get a snapshot of their performance.

The system was hailed for its flexibility and scalability, and how it increased confidence in executive decisions. Gartner analysts write that one thing separating Domo from the competition is its ease of use and deployment “requiring little or no support from IT.”

Domo was founded in 2010 and only went public in summer 2018. Now the company's investing heavily in research and development for the long term.

The stock price has gone up 13% over the last year. It currently sells at $31.14, with a high target of $38 for the 2019. Five of six analysts recommend buying.

This might be the most speculative of our three stocks, but if Domo manages to stay true to its pursuit of disruption, it will pay off big once augmented analytics really start to catch on.

Full story (and two more picks) at Money Morning

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