Big Data is one of the hottest tech trends that has taken the world by storm. As the creation of data continues to grow rapidly, the investment in the sector of big data analytics increases. As per the research conducted by IDC, the worldwide revenues for big data & business analytics market will reach up to $203 billion in the year 2020. The availability of huge data and the new technologies needed for managing data are driving towards the data-driven business with the development of effective Big Data Analytics Solutions.
Here are some of the future predictions from the top experts in the field of Big Data that everyone should be aware of:
Tools for Analysis without Analysts
Microsoft & Salesforce have already built features that will let non-coders develop the app to view the business-related data.
Predictive Analytics for Businesses
In the prediction made by IDC, it states that almost half of the businesses analytics software will make use of intelligence wherever required by the year 2020.
Data for Real-time Decisions
In the years to come, Forrester believes that real-time streaming insights into data will be rising. Users will make use of data to make real-time decisions like Spark and Kafka.
Machine Learning on Demand
Gartner says Machine learning is top trend used in 2016 and Ovum predicts that it will be an essential component for data preparation & predictive analytics in businesses.
Challenges around Privacy
With the huge challenges of privacy that Big Data is likely to face, Gartner believes that 50% of the business ethics violations will be only associated with data by 2018.
Need for Chief Data Officers
As per Forrester, we are likely to encounter increasing demand for the post of Chief Data officers in the short term. However, some of the businesses will require less of them in coming years.
Autonomous Agents & Tasks
Gartner suggests that autonomous agents will keep on increasing along with virtual personal guides, smart advisers, chat bots, autonomous vehicles, etc.
Data-as-a-service Business Model
With increasing trend of Data-as-a-service model, it is believed by Forrester that more businesses will try to monetize their data after the IBM’s acquisition of the Weather Channel.
‘Cognitive Technology’ is Next Big Thing
As per the research conducted by IIA, Cognitive technology will become the new buzzword that is related to automated analytics. The connection between cognitive computing & analytics will enhance for many enterprises in the same way businesses find similarities between big data & analytics.
More Companies in Data Business
Forrester predicts that ‘all the companies are in data business now’. A huge number of companies will try to drive revenue as well as value from their business data. The companies using data will achieve more benefits of $430 billion in productivity as compared to those that are not using.
One thing that we are sure about is that Big Data is only getting bigger in the years to come. Take the benefits of data for your business growth with the help of Big Data. Another important factor that will ensure the success of your business website is the right Enterprise Content Management System.