BIG DATA IN 2020

You would be hearing a lot about big data. Just like its name, Big Data is the biggest thing in the marketplace. Perhaps, you just have heard that this technology is creating a number of job opportunities around the world. While businesses are considering this technology a breakthrough, it is both a challenge and opportunity for developers & experts.

While some people know that it is a technology, others have no clue about this technology. Secrets have lingered with its name, and millennials are curious to leverage the potential of this technology for gaining dissimilar benefits. Moreover, software outsourcing companies are also active to leverage big data

What is Big Data?

Big Data is described as a massive chunk of unstructured and structured data, that accompany a hardship for processing data using traditional methods. Basically, Big Data is a collection of facts that represent both increasing and varied types of data (data being collected). Big Data experts and proponents assertively refer to it as “datification”.

The amount, speed, variety and unstructuredness lead to unmanageable data using traditional methods. The traditional data analysis methods are not promising enough to give accurate insights. Thus, new technologies, processes, and tools to accommodate and analyze this vast amount of data.

FIVE Predictions on the Future of Big Data:

1.     Data volumes will continue to increase and migrate to the cloud.

The majority of big data experts agree that the amount of generated data will be growing exponentially in the future. In its Data Age 2025 report for Seagate, IDC forecasts the global datasphere will reach 175 zettabytes by 2025.

2.     Machine learning will continue to change the landscape

Playing a huge role in big data, machine learning is another technology expected to impact our future drastically. Machine learning is becoming more sophisticated with every passing year. We are yet to see its full potential—beyond self-driving cars, fraud detection devices, or retail trends analyses.

3.     Data scientists and CDOs will be in high demand

The positions of Data Scientists and Chief Data Officers (CDOs) are relatively new, but the need for these specialists on the labour market is already high. As data volumes continue to grow, the gap between the need and the availability of data professionals is already large.

4.     Privacy will remain a hot issue

Data security and privacy have always been pressing issues, showing a massive snowballing potential. Ever-growing data volumes create additional challenges in protecting it from intrusions and cyberattacks, as the levels of data protection can’t keep up with the data growth rates.

5.     Fast data and actionable data will come to the forefront

Yet another prediction about the big data future is related to the rise of what is called ‘fast data’ and ‘actionable data’. Unlike big data, typically relying on Hadoop and NoSQL databases to analyze information in the batch mode, fast data allows for processing in real-time streams. Because of this stream processing, data can be analyzed promptly, within as little as just one millisecond. This brings more value to organizations that can make business decisions and take actions immediately when data arrives.

What the future holds for organizations

Being frightening and fascinating at the same time, the future of big data analytics promises to change the way businesses operate in finance, healthcare, manufacturing, and other industries. However, most experts agree that big data will mean big value. It will give rise to new job categories and even entire departments responsible for data management in large organizations. New regulatory structures and standards of conduct will emerge, as companies continue to use consumers’ personal data. Also, most companies will shift from being data-generating to data-powered, making use of actionable data and business insights.

Conclusion

Big Data is one of the most popular technology concepts in the market today. Data has the immense potential to change the world around mankind by giving significant insights to improve customer experience, satisfaction and providing unseen aspects of human behavior in absolute light.

Current problems are solved by current or new data. At the rate which businesses are increasingly adopting to the new business practices, the catch remains on whether they can collect the data, store it safely, understand it and extract value from it. This ensures they build the right IT infrastructure by considering how much data they have, will have, speed of new data, necessity for better data and budget constrain. Businesses should take advantage of new technologies even as disease outbreaks such as Covid-19 and other changes in the world are speeding up the digital process.