“It is expected that the big-data market will be worth $46.34 billion by 2018.”
Big data is in a constant mode of evolution. It has created huge leaps of growth for businesses who have been using it. The massive increase in the volume, variety, and velocity of data showcases that big data will definitely encounter some changes worth mentioning in the year ahead, prevailing to leave some indelible mark.
Let’s see a few changes that will hit big data domain in the coming year:
1. Cognitive Technologies
Performing tasks that are quite similar to human intelligence require a lot of focus. As cognitive technologies are evolving, big data will try and implement it on a huge scale. It will automate the tasks that require human perceptual skills, like face and writing recognition. It will also take care of other skills that involve strategizing, reasoning and learning. The tasks which were once only possible by the intervention of humans will be automated. Previously, systems were only capable of capturing data and moving the same without understanding it. But with the ongoing developments in the field of cognitive technologies, the system will be able to comprehend what data means.
2. Massive IoT Impact
Internet of Things will become the crux of data analysis in 2018. As more and more people are using smartphones and tablets, businesses have started investing more in IoT to gather the data they need. Both the businesses and consumers have benefitted massively from the sensor based analytics. Hence, the overall impact of IoT on big data in the coming year will be quite remarkable. No matter which domain your business caters to, IoT will surely reap the benefit out of it.
3. Prescriptive Analytics
Prescriptive Analytics aids in providing the appropriate solution at the most appropriate moment, and of course, in the right context. Big data will see a greater involvement of prescriptive analytics and descriptive analytics in 2018. It will allow entrepreneurs to make wiser decisions with the data they have with them. If combined with mathematics, analytics and the right amount of experimentation, big data will help businesses in optimizing the correct level of production that will eventually enhance customer’s experience. Cognitive computing, along with analytics, will take big data to another level that will help businesses to make more informed decisions matched with well-coordinated actions. Hence, Predictive Analytics is here to make a huge difference in the world of big data.
4.Machine Learning Faster And Accurate Than Ever Before
Machine learning or ML technology is growing at a lightning pace. It ensures that soon it will be able to process complex data, analyze huge volumes of data at a faster pace and deliver accurate results. The rapid growth in this domain is due to enormous data, improved algorithms and of course, enhanced hardware. Hence, the processes will be streamlined like never before. Machine Learning will be transforming businesses by performing endless tasks, like real-time ads, fraud detection, data analysis, etc. 2018 will witness faster and improved Machine Learning, making more accurate and appropriate predictions.
5. Dark Data Revelation
There are huge volumes of historical data that are yet to be digitized, i.e, the dark data that still remains in the storage room from beyond the computer era. But this year, with the rise of big data, a lot of focus will be upon digitization and recovery of dark data. The revelation and digitization of dark data will portray recurring trends and product cycles so that accurate predictions are made for the future.
6. Enhanced Cyber Security
This coming year, Artificial Intelligence will dig deeper into the security domain. Machines will soon be able to predict human psychology quite accurately. They will also be able to comprehend unlabeled data without any human intervention. Hence, with such enhanced capabilities, AI will become the most robust tool for safeguarding data and the top defense mechanism.
These are the top-notch changes that are expected to raise the temperature in the world of big data. From cognitive technologies to machine learning, and dark data to AI based cybersecurity, every possible latest technology is on the ramp to bring forth major changes in big data, and that seems quite promising.
References: entrepreneur, contexti, ctovision, pluralsight, disruptordaily