Big Data has come into much prominence and has had great impact on the business set-up. The question is what next? And will it continue to grow? What technologies will indeed develop around it? Why Big Data is so important?
17 Predictions of Future Of Big Data
Here are some predictions of Big Data going forward:
- Data volumes will continue to grow. Much data will continue to be generated as well as larger and as well as larger volumes of data, especially considering that the number of handheld devices and Internet-connected devices will develop further.
- Ways to analyze data will improve. Much analysis will be done and ways and means will develop to improve upon it.
- More tools for analysis (without the analyst) will emerge.Microsoft MSFT – and Salesforce etc such tools will emerge on the business scenario. Apps will be created in order to view business data.
- Prescriptive analytics will actually be built into business analytics software.IDC does predict that half of all business analytics software will indeed include the intelligence where it’s needed by 2020.
- Real-time streaming based insights into data will be part of data: Data will be much used to make decisions in real time along with programs.
- Machine learning as a top strategic trend: Machine learning will indeed be a necessary element for data preparation and also predictive analysis in businesses moving forward.
- Big data will face rather huge challenges around privacy: Companies will be forced to address issues related to privacy controls and procedures.
- More companies to appoint a chief data officer.The CDO will indeed play an important role.
- Autonomous agents and things to continue as a huge trend: Robots, autonomous vehicles, virtual personal assistants, and smart advisers will add to the new trend dimension.
- Big data staffing shortages will indeed expandfrom analysts as well as scientists in order to include architects as well as experts in data management.
- Big data talent crunch may easeas companies employ new tactics. The companies will make use of recruiting as well as internal training to get their respective personnel problems solved.
- The “data-as-a-service business model” focuses: More business set-ups to attempt to monetize their data.
- Algorithm markets will also emerge.Forrester surmises that businesses will rather quickly learn that they are able to purchase algorithms rather than program them and subsequently add their own data.
- Cognitive technology- new buzzword.For many business houses, the link between cognitive computing as well as analytics will rather become synonymous. Similarities can be seen between analytics and big data.
- All companies are data businesses now: More companies will be attempting to drive value and revenue from their respective data.
- Businesses using data will have productivity benefits: Business people can aspire for productivity benefits in the coming future.
- Fast data and actionable data will replace big data : Companies need to focus on asking the right questions and making use of the data they have — big or otherwise
