In this world of technological advancement, data has become the world’s most valuable asset. Because of the progress in the tech industry, it is now easier to collect, transmit, store, and analyze vast amounts of data and turn it into knowledge.
Because of the rapid rise of IoT, billions of devices are now collecting data almost every second all over the world, and the continued digitalization of businesses, the vast data influx known as big data is projected to become a US$274 billion industry by 2022. This expected growth is also driven by the rise of artificial intelligence (AI), which requires massive amounts of data to train systems–whether as predictive analytics solutions to hyper-personalized virtual assistants.
Big data and big data analytics have become a crucial resource for both public and private organizations. The evolution of cloud software making is creating advanced big data and analytics more accessible than ever. Below are some of the big data and big data analytics trends to watch out for this 2021.
According to a report by IBM, data cleaning takes up as high as 80% of the data scientist’s valuable time. Augmented analytics aims to resolve that by automating the time-consuming task of data preparation to create analytics-ready pipelines. Augmented analytics is publicized as the future of business intelligence, which uses statistical and linguistic technologies to improve data management processes. It is projected to hit US$18.4 billion by 2023 since the data freeways have become even crowded over the years.
Cold storage and cloud optimization
We all know how valuable data is, but organizations are confronted with huge amounts of it, trapped in data silos and legacy systems. This is why cold storage delivered as a cloud service might be the solution. Optimizing the cloud services for viable data solutions is transforming how organizations store and deliver information on the edge. As the amount of big data generated approaches more than quintillion bytes, cold storage solutions could save enterprises as high as 5% of the overall data storage costs.
One of the debates that surround big data lies in its accuracy and data privacy. Through blockchain technology, big data can be more secured, making it accessible to its stakeholders.
“Because of this emerging trend in technology, we will see how AI and machine learning models operate on top of distributed, transparent, and immutable blockchain-generated data layers. Those who are willing to assimilate in this trend will enjoy the benefits of the use of big data particularly in investments and can potentially help generate enormous profits,” says Frank Richards, CEO of Globalytics Tech Research (GTR), analytics solutions for large businesses around the world.
Continuous Intelligence (CI) combines both data pipelines and automated decision analysis, making big data insights accessible to everyone in the business and supporting the decision-making process and encouraging automation endeavors.
According to Gartner’s predictions, 50% of new business systems will deploy CI by the end of 2022. This emerging trend aims to provide tailored, intelligent solutions that surround big data to match the customer’s needs and expectations. This is why CI is expected to gain momentum over the next few months.
Since our digital footprints generate massive amounts of big data, organizations and enterprises end up using only a fraction of it. The remaining unused data gets trapped in dark data silos. Also known as a web of unstructured data, dark data is not a small block, but it is the fastest-growing component of the big data ecosystem. It holds considerable information potential on customer behaviors, competitor analysis, and target markets for those who can access and devise strategies.
Big data holds many potentials and can be applied in various industries, making it one of the emerging technologies to watch out for in 2021. Big data itself is vast, but organizations and enterprises can take advantage of this technology through its different applications.
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