From the buzzword to the technical mean, today, the ‘Big data’ concept is the success key of growth locks. The advancements in other technology domains have simplified the analysis of large data files to a greater extent. Big firms and companies are achieving new heights by working on their big data strategy and analysis platforms.
One of the surveys reports that the expected revenue generation from big data will be around $274.3 billion by 2022.
Grasping the current big data market knowledge and its meaningful applications is the need for business advancement. Below is the gathered list of ten big data trends responsible for the unpredicted achievements and in-depth analysis to visualize what is ahead for us.
Ten Big Data Trends
- Machine Learning
The use of Big Data with Machine learning can expand the organization’s dimensions in a multitude of forms. Experts predict that the machine learning market growth is subjected to USD 9 Billion by 2022 with a 44% CAGR.
The performance caliber gets momentum when artificial intelligence and machine learning comes in partnership. Companies integrate their powerful elements in their core processes to avail the crucial information and issue tackling at a fast pace without the manual power involvement. Being together, they open the ways to data analysis from several sources like mobile applications, sensory devices, and search engine queries.
- The Power of Artificial Intelligence
Both mid-sized and multinational firms are using artificial intelligence technology to enhance their workflow and routine processes. The algorithms embedded in AI programs are capable of performing tasks faster than humans along with high accuracy. The chances of facing errors become null as the program seeks to satisfy the mentioned conditions always and improve the working mechanism. When a machine handles tasks in a faultless way, the human power can be shifted to other critical assignments where the presence of a living being is necessary.
The best part is that every company can run AI applications that are pre-built to cope with the demand increase. It is the level up in the game. If the organizations accurately implement this technology, the advantages and growth will find their ways to their addresses.
The term Data-as-a-Service seems new but was there from a long time not in our notices. The concept is to fetch and access the data from online sources or shared spaces. It becomes not-to-ignore for companies who work on large data sets and require information exchange with other departments rapidly but limits due to technological barriers.
This concept is identical to the download of games, music, and videos from the internet. It acts as the central hub that connects the organization’s branches and increases productivity. Also, when everything is set in one place, the management and maintenance become less challenging.
As most businesses’ operations are occurring on the digital medium, the concerns regarding data privacy and security are nagging in everyone’s mind. Blockchain can solve this problem and can make the digital workplace concept more secure and robust.
The blockchain trend is emerging, and it excites to imagine the machine learning and artificial intelligence capabilities with unchangeable decentralized blockchain data layers. One who adopts this innovation early can become the pioneer of their respective niche and gain growth.
- Big Data Applications
Creating smart apps for mobile devices is another use of AI and ML technology. These applications are usually comprised of Big data solutions, data analytics, predictive analytics, and other data-related services. Recommendation engines are a prevalent example nowadays seen in many entertainment and eCommerce applications.
- Big Data in IoT
The integration of data analytics and ML algorithms in the Internet of Things (IoT) devices enhances the response accuracy and flexibility achieved by machine learning.
Multinational companies are facing exponential growth with the use of IoT devices to carry out data analysis. The trend is emerging and soon going to be the universal norm of the business world.
- Smart Security
Security is also one of the aspects where enterprises are fusing big data analytics. The past security data logs supply sensitive information regarding the former hacking attacks that enterprises can utilize to anticipate future attempts and mitigate its effects by beforehand security planning. Hadoop is famous in Big Data platform, which companies incorporate in their event management (SIEM) system and security channels. Some contact with the vendors whose security solutions have big data analytics abilities.
- Velocious Data Transmission with 5G
The increasing file sizes, cloud storage access, and growing sensory devices are triggering the need for a high-speed connection, which is the 5th Generation network or 5G. The 5Ghz frequency can transmit a large amount of data with the speed of 10Gb per second, outperforming all the existing networks the world is relying on now. The technology will allow creating a data pipeline that can manage the data flow from many sources.
The user experience with wearables, VR, and monitoring devices will also gain significant improvement with it. 5G, on the industrial level, will provide the power to access and process the data in the fast lane.
- Migration of Dark Data to the Cloud
We generate a mammoth amount of big data on digital platforms. Only a tiny chunk of its organizations is able to use it. Rest seems to wander aimlessly in a digital space.
Explained as an unstructured data web, the dark data is not only a tiny amount but is the big data rapid growing component. It has quality and meaningful information regarding user behaviors, rivals, and markets, which is the treasure for any company to hunt.
- Research and Development
The means through which a business operates and performs everyday tasks are getting improved using big data analytics. From supply chain to marketing, everything is in effect. With that, enterprises collect market insights, hidden patterns, audience preference, industry trends and optimize their products accordingly with the conducted research.
Data analytics supports research and development in various ways in various industries. It provides advanced tools to analyze social media trends, product quality, production area, location-based services, customer behavior, and many more.
Firms can smartly utilize the ML algorithms and computational power to reach new heights in the business.
As we progress with technology every other day, the expected future with big data analytics is looking bright from all sides. In public and private segments, data usage monitoring and regulations will be there. Big data will not stop growing based on the market condition.It will shift the paradigm of the way enterprises perceive and use data in the coming time. Everyone will yearn to adopt big data strategies in their work operations. For fulfilling that purpose today, you can get a consultation from top software and development companies like Cubix to tweak your business center core with efficient Big Data techniques.