Artificial Intelligence (AI) holds tremendous potential to revolutionize various aspects of business, from refining customer experiences to optimizing internal operations. However, the perceived obstacles, such as the need for substantial infrastructure investment and skilled manpower, can be daunting. This is where the new wave of no-code and low-code AI tools comes into play, making AI accessible and user-friendly.
These innovative platforms pave the way for almost anyone to explore and craft applications that harness machine learning in groundbreaking ways. Be it crafting web services, designing customer-centric apps, or orchestrating sales and marketing initiatives, integrating AI has become remarkably uncomplicated.
Despite the significant interest in AI, with 91% of enterprises investing in this technology, actual large-scale implementation is considerably low at 26%. This disparity underscores the challenges companies encounter while developing machine learning applications, such as time constraints, high maintenance costs, and scarcity of specialized talent. In fact, over 70% of data science projects reportedly yield minimal or zero business impact.
Low-code tools are transforming this landscape by making software development universally accessible. Today, anyone with a basic grasp of technology and a business perspective can build an app using low-code solutions. As per Gartner’s prediction, by 2024, low-code platforms will drive more than 65% of all app development. Further, the global low-code market is projected to skyrocket to a staggering $187 billion by 2030. Clearly, the future of app development is being reshaped by the emergence and adoption of low-code and no-code platforms.
What is a Low code no code (LCNC) Business Platform
A Low Code No Code (LCNC) business platform is an extension of a software development approach that enables users to design and develop software applications with minimal hand-coding to a business platform. It leverages a graphical user interface, instead of traditional procedural code, making it possible to develop applications in a fraction of the time it would take with a conventional programming approach.
- Low-Code Platforms: These are primarily designed for professional developers to expedite the process of coding by minimizing the amount of manual coding needed. Low-code platforms use a visual development environment where developers can drag and drop pre-designed components to create/change business enterprise applications, alter a business process, to gain access to reports. They flexibility to add custom code when needed for complex requirements but that is driven usually by developers.
- No-Code Platforms: These platforms are designed to make application development, and business processes accessible to non-developers or business users. They use a completely visual approach, enabling users by assembling pre-built components without needing to write any code.
low-code and no-code platforms aim to democratize the use of complex enterprise business platforms like Data management, enabling a wider range of people to build applications, accelerate delivery times, and reduce development costs. They are particularly useful for rapidly prototyping solutions, automating business processes, and developing enterprise applications that can easily adapt to changing business needs.
A study by Forrester found that low-code/no-code platforms can reduce the time to market for new applications by up to 90%. Another study by McKinsey found that low-code/no-code platforms can reduce the cost of developing new applications by up to 70%.
AI in Data Science: The Ascendancy of Low Code, No Code(LCNC) Platforms in Data Management
Traditionally, the field of data science required individuals to have a deep understanding of a range of topics, including statistics, machine learning, data visualization, and computer programming, particularly in languages such as Python, R, and SQL. This high entry barrier, coupled with the complex, multi-stage data processing pipelines, made data science a niche domain limited to those with specialized skills.
Data scientists would spend a significant amount of their time acquiring, cleaning, and processing data, a process often referred to as ‘data wrangling’. After this laborious process, they would apply statistical or machine learning models to draw insights from the data, followed by the creation of visualizations to communicate these insights.
With the advancement of Artificial Intelligence (AI) in recent years, many aspects of data science have undergone a significant transformation. AI and machine learning algorithms have become more powerful and efficient, automating several stages of the data science pipeline and enabling the analysis of larger and more complex datasets. They have also improved the accuracy of predictions and decision-making, leading to more effective and reliable insights.
The rise of Low Code No Code (LCNC) platforms is a revolutionary development in the field of data science and data management. These platforms, which allow users to build data applications with little to no coding, have made data science more accessible to a wider range of people, including those without extensive programming experience.
LCNC platforms offer pre-built modules for tasks such as data ingestion, cleaning, transformation, modeling, and visualization, allowing users to simply drag and drop these components to create a data processing pipeline. They also often provide features for data governance, cataloging, and protection, thus streamlining the data management process.
The integration of AI with these platforms further enhances their capabilities. Machine learning models can be easily incorporated into data pipelines, allowing users to quickly develop and deploy predictive models. This AI-driven approach can also automate data cleaning and preprocessing tasks, which have traditionally been time-consuming and prone to errors.
With the rise of LCNC platforms, data science is evolving from a highly specialized field to one that is more democratized and collaborative. These platforms are empowering a wider range of individuals to participate in data management and decision-making processes, fostering a data-driven culture within organizations. Furthermore, they are increasing efficiency, improving data quality, and enabling organizations to respond more quickly to changing business environments.
Empowering Business Users with Low Code No Code Data Platforms for Custom Applications, Workflows, and Analytics
LCNC (Low Code No Code) platforms enable quick and simple customization of apps and workflows through a drag-and-drop feature, saving time and resources. They centralize and automate data management, improving accuracy and freeing up staff for strategic tasks. They also democratize data access and analysis, fostering data-driven decision making across the organization. Low Code No Code (LCNC) Data platforms are drastically transforming the landscape of data management in the organisation in several ways:
- Democratizing Data Management: By simplifying the process of creating data-driven applications, it enables a wider range of users like business professionals and not just IT or software development teams to participate in data management.
- Streamlining Complex Processes: Provide tools for data ingestion, transformation, cleaning, and visualization that are more user-friendly compared to traditional coding methods. This simplification leads to more efficient and error-free data management.
- Enhancing Agility: LCNC platforms allow for rapid development and modification of data management applications. As business needs change, data workflows can be swiftly adapted without needing to write extensive code, enabling businesses to respond quickly to changing environments.
- Improving Data Quality and Governance: LCNC platforms often include features that assist with data cataloging, Active metadata, Data lineage, and data curation. By making these tasks more accessible and AI automation. It helps improve data quality and Data governance.
- Empowering Data Literacy: By lowering the technical barrier to entry, It empowers more employees to engage with data, leading to greater data literacy across the organization.
- Facilitating Scalability: These platforms are built to scale in any of the data environments or cloud or on-premise. meaning they can handle increasing volumes of data without requiring substantial additional coding. The platform automatically scales and manages the increasing volume of data.
Overall, the rise of Low Code No Code platforms is leading to a democratization of data management, making it easier, faster, and more efficient for businesses to leverage their data to drive decision-making and innovation.
SCIKIQ is an All-in-one, Low Code No Code Data Platform
SCIKIQ is the next-generation data management platform for data-driven organizations, leveraging AI/ML to empower teams with real-time insights, centralized data sources, and automated intelligence – all at a fraction of the cost and time of traditional solutions. Through its No Code, Drag, and Drop User Interface, business teams can focus on decisions and outcomes rather spending time stitching together data across Organisational Silos. Also read, How SCIKIQ Helps various Personas
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