The future of Big Data
Where is big data heading? What should be marketer aware of this year? In today’s world businesses must land the data first, then apply data science to it to define the necessary requirements.
Big data is the new age technology. Big data has taken the world by storm and there are no signs of slowing down. Big data has made ground-breaking insights available in real-time. Nowadays data is everywhere. You might have few questions – Will data continue to grow? Where would big data industry go from here? What’s next? What technologies will develop around it? With the rise of big data technology, it is essential to know where big data is heading. Here are 10 big data predictions that will answer all your questions:
1. The rise of an algorithm market
The businesses will quickly learn that they can purchase algorithms rather than program them. After buying an algorithm, businesses can add their own data in it. The algorithm provides more customization as compared to buying a software. There are many services available such as – Algorithmia, Data Xu & Kaggle. Algorithmia is one of the best service. There is one limitation to consider that you can’t make changes in software as per your need. Your business will have to adjust according to the software. This era will end soon and algorithms selling services will be changing the big data market.
2. Big data talent demand will increase
The number of colleges offering big data courses is growing rapidly. If you love big data and analysis than its better to start your career in data science. As the volume of big data grows, there will be high demand for data scientists, data engineers, and data analysts. Though the career in data science is bright, there will be a shortage of skilled big data talent in the market. To overcome this challenge, companies should start investing in training their current workforce. So that companies' employees can cope up with emerging technologies.
3. Machine learning will be the next big thing
Those days are gone when machine learning was considered concern of scientists only. Nowadays machine learning has become the hottest trend of technology. According to Ovum, machine learning will be a necessary element for data preparation and data predictive analysis. The practice of taking decisions from big data by people will be outdated soon. In near future, the machine will be capable to take more accurate and reliable decisions rather than human beings. According to one survey, the market of machine learning is expected to grow around $45 billion by 2020. The financial sector will utilize maximum machine learning technology in near future. Data revolution will be at pick in 2020.
4. Personal data & privacy will become more important
Big data will face huge challenges around privacy. The volume of data we are creating right now and the volume that will be created in future will make privacy even more important. People think that in order to utilize new technology; giving personal information is not a big deal. But this attitude will change soon as hackers have proved themselves that even hacking the most secure system is easier for them. Data security and privacy concerns will be the biggest hurdle for big data industry. Gartner predicts that by 2018, 50% business ethics violations will be related to data. Companies and platforms will have to be transparent in what they store,where they store and how they intend to use it.
5. The Internet of Things will go mainstream
Social media and mobile internet have empowered people to become generators of data. People want to be connected all the time. Wearable technologies and data-enabled devices are breaking out of the gadget-geek and early adopter markets. The Internet of Thing technology would be integrated into more than 95% of electronic devices.
6. Data visualization tools will be useful
There are many data visualization software available in the market designed to create visualizations from data, making it easier for us to spot links between cause & effect. As data journalist David McCandless mentioned in his TED talks – “By visualizing information we turn it into a landscape that you can explore with your eyes, a sort of information map. When you are lost in information, an information map is kind of useful.” According to Forbes, some of the best data visualization tools are – Tableau, Qlikview, FusionCharts, Highcharts, Plotly and DataHero.
Stream processing is a next big thing in big data. Businesses can no longer compete in today’s environment if they are waiting to receive daily, weekly or monthly reports on the health of their business. Companies constantly have to understand what is happening with their business and how to react to changing reality. With streamed processing, data is processed instantly. You can use real-time streaming tools such as – Apache Spark, Apache Storm, and Apache Samza. Real-time streaming insights into data will be the hallmarks of data winners.
7. More investment in big data technology
The business investments in big data might vary from industry to industry. The increase in big data spending will remain consistent overall. According to IDC analysts, total revenues from big data and business analytics will rise from $122 billion in 2015 to $187 billion in 2019. Many industries will adopt data technology rapidly. Manufacturing industry, healthcare, and banking industries will be using big data technology.
8. Data volume challenge
We will continue generating larger volumes of data, especially considering that the number of handheld devices and internet-connected devices is expected to grow rapidly. Here volume refers to the amount of data generated through websites, portals, and online applications. Facebook, Twitter, YouTube and Instagram users are increasing day by day. You can now imagine the volume of data will be generated every minute & every hour.
9. The future of cloud
Don’t think that choosing Hadoop or Spark is enough to get huge success in big data. But yes, if you choose right infrastructure as per your business industry; success is ensured. To drive your business efficiently, you need to be able to capture, store, analyze and act on the information. The good news is you can turn to the cloud to help you address key demands. Always remember that choosing the right cloud solution will empower your business. The cloud offers many powerful advantages. You can utilize cloud solutions such as Amazon & Volansys. According to Forrester research, cloud-computing will become $236 billion business in the market is expected to account for the most of analytics and solution purchases by the year 2020.
Big data technology will keep on surprising us. Big data is only going to get bigger in future. Companies who ignore the big data technology will fail to keep up with the market. Because data is the new currency in today’s market. Data is the number one business driver in every industry. So, enterprises should start preparing themselves to utilize big data technology at its best. Keep in mind big data is the new future.