How Big Data Can Be Used In The Future
It is for sure that the big data has taken the business world on squall! But since the era is all about new and changing trends. So what will be the future about Big Data? What are the predictions for the Big Data in upcoming days?
People nowadays are more relied over the digital world of the “instant expectations” which has made today’s world all cloud based. And eventually all these data produces and compiles data at an equal rapid rate.
It is a simple prediction that the data usage from each smartphone will be doubled in upcoming days, seeing the current scenario of data usage. Which proves that there will be obviously no slowing down in future. Hence the Big Data will be a booming thing in future.
The Future of Big Data
Increase in Volume –
It is a 100% successful forecasting that the volume of Big Data will be continue to grow exponentially. It is been a record that people have created 90% of today’s data in these couple of years. Which is around quintillion bytes per day data, which is mainly created by the internet, social media, text messages, media files, web searches.
People have become so techno savvy these days, even from looking for a simple “How to’s” till ordering online and eating. Maybe in upcoming days this will go to next level of people doing everything online. This will create billions and trillions of connected devices and embedded systems globally which will create, collect and share ample of data every day.
Big Thing in Big Data – Machine Learning –
Machine learning will be one of the fore front of Big Data Future. Many experts believe that, computers capabilities to learn from data will be considerably improved due to more advanced unsupervised algorithms, cognitive services and deeper personalization and hence as a result, there will be machines now which will read and identify emotions, explore space, drive cars for us, heal the sick and even shop for us.
This sounds fascinating and scary at the same time. But let’s see what different ways future shows us!
Algorithms over Software –
Businesses who tend to look for more and more customization in their systems. Will be somehow replacing Software over Algorithms. Since we cannot mould software according to our needs (we can but at very limited extend only). Also we cannot limit our needs according to software. Many businesses will look for purchasing algorithm instead of creating their own. After buying algorithm, one can add their own data to it rather than programming.
Whether it is Internet or Big Data, one of the most eminent things for any emerging technologies is its Security and Privacy of data. And as in future the volume of data will be increasing, privacy will be even more important since stakes will be much higher. Hence data security and privacy will be biggest challenge for Big Data industries.
Investments in Big Data –
Total revenues from Big Data and business analytics will rise in the coming years since business spending on Big Data has already surpasses billion dollars in 2019. Though the business investments in Big Data varies from company to company, the increase in Big Data spending will remain consistent. While Health care, resource and banking industries will be the fastest to adopt the Big Data, manufacturing industries will be ones who will be spending the most on the Big Data Technologies.
CDO’s will be in high demand! –
CDO? You might be knowing Chief Executive Officer (CEO), Chief Marketing Officer (CMO). But ever heard about Chief Data Officer (CDO)? Mostly it will be a NO! But surely in upcoming days it will be a generic thing. Because eventually there will be an emergence of this new position in businesses. Wider the spread of Bid Data Technologies, need of hiring a Chief Data Officer will be a mandatory thing.