What is stored for Big Data in Future?
It is no secret that Big Data is no longer at hands of early adopters. In fact, it is taking the business world to the next level! The question in many minds does have to be how far can this trend go? Will the data keep growing at mind-boggling rates? How will technologies around big data develop? Well, a number of experts have made their predictions and this article has compiled a list of some of the most notable ones. So, just relax, read through and take some notes!
- Data Growth Will Continue
If you thought your business is handling many data already then fasten your seat belt. There is more data coming your way! We all anticipate growth in handheld devices, the Internet will penetrate to almost every place around the globe, and this surely translates to huge data for business to handle.
- Data Analysis Techniques Will Improve
Of course, as data keeps growing, data analysis techniques have to keep up pace. For example, you can expect that SQL remains a standard data handling language but technologies like Spark will soon be among the most adopted for big data.
- New Big Data Tools Will Emerge While Existent Tools Evolve
You can expect there will be an evolution of tools that handle data to a completely new level. Most tools are now looking at ways to attract users with no data analytics expertise. For instance, Salesforce and Microsoft recently announced new features that afford non-coders the chance to create apps that view business data.
- Machine Learning Will Continue Being A Strategic Trend
Machine Learning is already a vital element adopted for data preparation and predictive analysis but as Ovum and Gartner postulate, businesses will have to tap more into the field.
- Privacy Issues Aren’t Going Away Anytime Soon
Big data adoption has always been pegged back by privacy issues and the road is going to get slippery especially as privacy regulations keep coming thick and fast. Going forward, companies will have little choice in addressing this issue around privacy control and procedures. If you are looking to cut a shortcut around this then here is one stat to scare you off; Gartner predicts that around 50% of business ethics violations will be related to big data. In other words, tighten any loose nuts soon if you do not want your business being stuck in any data related lawsuits in future.
- The Emergence of the position: Chief Data Officer(CDO)
Some experts believe that in the short term, some business will create a position for the chief data officer but certain business will find the position less useful in the long term.
- Autonomous Agents Will Continue being a Huge trend
Expect more in the world of robotics, autonomous vehicles, virtual personal assistants, and smart advisers in the next five years or so.
- Big Data Skill Shortage
Judging by the rate at which big data is developing, it is going to be tough for companies to find the data analysts and scientist to fill in various big data positions. This should perhaps serve as a reason enough for businesses to start training their own talent early enough if they are to wither the coming storm.
- An emergence of Big data-as-a-service(BDaaS) model
BDaaS is a somewhat nebulous term used to describing the outsourcing of various big data functions to the cloud. Over the past few years, a number of companies targeting this niche have sprung up all around the world. Do not expect this trend to slow down anytime soon as it has been forecasted that the BDaaS market will be at around $30 billion by the year 2021.
- A Growth in the Algorithm Markets
Many businesses are now realizing the need to purchase algorithms then they can simply add data to them rather than investing so much money and time to creating their own algorithms. Keep this in mind, it is expected that services like Algorithmia, Data Xu, and Kaggle will start multiplying and growing.
- Cognitive technology Will Create a Buzz
Many businesses will start seeing the link between analytics and cognitive computing in much the same way that many now see similarities between big data and analytics.
- Actionable Data and Fast data will Serve as a Substitute to Big data
Interestingly, some experts argue that the size of data does not matter that much. Some of them have even suggested that most companies do not leverage a small fraction of the data for which they have access. The idea here is that companies should focus on asking the right blend of questions coupled with using the data on their hands regardless of if it’s big or not.
- Real Time Streaming of Data Insights Will Be A Necessity
Businesses fancy the chance to use data to make decisions in real time and this will be possible as data technologies streamline their platforms. So, expect tools like Kafka and Spark to streamline their real-time insights going forward.
- Intelligence Will be Built into Business Analytic Software
The IDC recently predicted that nearly 50% of the business intelligence software would have included things like prescriptive analytics by the year 2020.
- More Businesses Will Adopt Big Data
The Forrester predicts that more and more businesses will try to drive revenue from their data. Thus, it is expected that those who choose path will make many profits compared to those who choose not to go the data way.
Now, it is only a matter of time before we can see which of these predictions turn out to be true and which ones will merely pass into obscurity. For now, enterprises can use these predictions as a yardstick to fine tune data related functions in the business. After all, it is highly likely that big data will grow exponentially over the coming years. So, do not let your business be caught off guard!