The Big data is the vast volumes of data generated from a number of industry domains. Big data generally comprises data collection, data analysis and data implementation processes. Through the years, there’s been a change in the big data analytics trends – businesses have swapped the tedious departmental approach with data approach. This has seen greater use of agile technologies along with heightened demand for advanced analytics. Staying ahead of the competition now requires businesses to deploy advanced data-driven analytics.
When it first came into the picture, big data was essentially deployed by bigger companies that could afford the technology when it was expensive. At present, the scope of big data has changed to the extent that enterprises both small and large rely on big data for intelligent analytics and business insights. This has resulted in the evolution of big data sciences at a really fast pace. The most pertinent example of this growth is the cloud which has let even small businesses take advantage of the latest technology.
The modern business is floating on a stream of never-ending information. However, most businesses face the challenge of extracting actionable insights from vast pools of unstructured data. Despite these roadblocks, businesses are deriving from the tremendous opportunities for growth presented by big data. Here is all that would count as the hottest big data analytics trends of 2019.
Booming IoT Networks
Like it’s been through 2018, Internet of Things (IoT) will continue to trend through 2019, with annual revenues reaching way beyond $300 billion by 2020. The latest research reports indicate that the IoT market will grow at a 28.5% CAGR. Organizations will depend on more structured data points to gather information and gain sharper business insights.
Industry insiders believe that the future of tech belongs to the company that builds the first quantum computer. No surprise that every tech giant including Microsoft, Intel, Google and IBM are racing for the top spot in quantum computing. So, what’s the big draw with quantum computing? It allows seamless encryption of data, weather prediction, solutions to long-standing medical problems and then some more. Quantum computing allows real conversations between customers and organizations. There’s also the promise of revamped financial modeling that helps organizations develop quantum computing components along with applications and algorithms.
Analytics based on Superior Predictive Capacity
More and more organizations are using predictive analysis to offer better and more customized insights. This, in turn, generates new responses from customers and promotes cross-selling opportunities. Predictive analysis helps technology seamlessly integrate into variegated domains like healthcare, finance, aerospace, hospitality, retailing, manufacturing and pharmaceuticals.
The concept of edge computing among other big data trends did not just evolve yesterday. Network performance streaming makes use of edge computing pretty regularly even today. To save data on the local server close to the data source, we depend on the network bandwidth. That’s made possible with edge computing. Edge computing stores data nearer to the end users and farther from the silo setup with the processing happening either in the device or in the data center. Naturally, the entire procedure will see an organic growth in 2019.
Unstructured or Dark Data
Dark data refers to any data that is essentially not a part of business analysis. These packets of data come from a multitude of digital network operations which are not used to gather insights or make decisions. Since data and analytics are increasingly becoming larger parts of the daily aspects of our organizations, there’s something that we all must understand. Losing an opportunity to study unexplored data is a big-time potential security risk.
More Chief Data Officers
The latest trendy job role on the market is that of a Chief Data Officer. Top-tier human resource professionals are looking for competent industry professionals to fill this spot. While the demand is quite high, the concept and value of a CDO are largely still undefined. Ideally, organizations are preferring professional with knowledge in data analysis, data cleaning, intelligent insights and visualization.
Another Big Year for Open Sourcing
Individual micro-niche developers will invariably step up their game in 2019. That means we will see more and more software tools and free data become available on the cloud. This will hugely benefit small organizations and startups in 2019. More languages and platforms like the GNU project, R, will hog the tech limelight in the year to come. The open source wave will definitely help small organizations cut down on expensive custom development.