How Businesses Are Taking Advantage Of Big Data Trends?

By Jyoti Nigania |Email | Jan 8, 2019 | 5004 Views

The amount of data generated these days from all business domains conjointly called massive data is large, encompassing data gathering, data analysis, and data implementation method. Over the years, massive data analytics trends are dynamical, from a division approach to business-driven data approach, clutches agile technologies associated a magnified specialize in advanced analytics. Business enterprises have to implement the proper data-driven massive data analytics trends to remain ahead within the competition.

Previously, massive data was primarily deployed by massive businesses, UN agency might afford the technology and channels accustomed to collect and analyze the knowledge. these days the scope of massive data is modified resulting in business enterprises massive and little depend on big data for intelligent business insights. This has a light-emitting diode to massive data evolving at associate improbably quick pace. the most effective example of the expansion is massive data within the cloud that has a light-emitting diode to even tiny businesses taking advantage of the newest technology trends.

The unending stream of data is efficacious to the business, however, it may also be a challenge to draw unjust insights from an oversized data pool of data which can be unstructured. Even with these roadblocks, there's no denying the actual fact that massive data offers business tremendous opportunities for growth. Following are the big data trends which will be the verbalize the technology world in 2019 and on the far side.

1. Fast Growing IoT Networks
Internet of Things (IoT) will be the trend, which will generate more than $300 billion annually by 2020. According to the latest industry trends and research reports, the global IoT market will grow at a CAGR of 28.5%. Business houses will rely on more data points to collect information for more detailed business insights.

2. Predictive Analytics
Predictive Analytics offers customized insights that lead organizations to generate new customer responses or purchases and promote cross-sell opportunities. Predictive Analytics helps technology to integrate into diverse domains like finance, healthcare, automotive, aerospace, retailing, hospitality, pharmaceuticals, and manufacturing industries.

3. Dark Data
Dark data in technology is the digital information that is currently not in use for business analysis. This data is acquired through various computer network operations which are not used in a manner to derive insights or for decision-making. As analytics and data become daily aspects of organizations, there is an increased need to understand that any data left unexplored is an opportunity lost and may lead to a potential security risk.

4. CDOs in Demand
The profile of the Chief Data Officer (CDO) has evolved and human resource personals are scouting for professionals who can fill this trendy job role. Though in demand, CDO is still a relatively new concept to many companies. Organizations have realized that they need to hire a CDO, so if you are a data leader managing enterprise-wide data cleaning, analysis, visualization and studying intelligent insights, CDO may be the work profile for you.

5. Quantum Computing
Tech giants like IBM, Microsoft, Google, and Intel, race against each other to work rigorously in a bid to build the first quantum computer. Quantum Computing enables seamless data encryption, weather prediction, solving complex medical problems, real conversations, and better financial modeling to make organizations develop quantum computing components, algorithms, applications and software tools on qubit cloud services.

6. Open Source
2019 will witness more free data and software tools to become available in the cloud. Small organizations and start-ups alike will benefit the most of this data trend in 2019. Open source analytical languages like R, a GNU project associated with statistical computing and graphics has seen a huge adoption credit to the open source wave.

7. Edge Computing
Edge Computing has been into the technological space streaming network performance for quite a while now. All credit to edge computing that data analytics is partly reliant on the network bandwidth to save data locally close to the data source. Edge Computing makes data to be handled and stored away from the silo setup closer to end users with processing taking place either in the device itself or in the fog layer or in the edge data center.

Source: HOB