3 Big Data & Analytics Trends to watch out for in 2018
In the age of Machine Learning and AI, companies are racing towards better services and innovative solutions for better customer experiences. Businesses realize the need to take their big data insights further than they have before in order to serve, retain and win new customers. 2017 has been a big year for Big data analytics with lots of companies understanding the value of storing and analysis huge stream of data collected from different sources. Big data is in a constant mode of evolution. It is expected that the big-data market will be worth $46.34 billion by 2018[1]. Let's look into three major domains where big data and analytics research and developed will be focused in the upcoming year:
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IoT impact: Internet of things (IoT) will become the crux of the data analysis in 2018. With more and more people moving towards smart devices such as smartwatches, mobile phones, etc., and a massive increase in smart homes and infrastructure has created an unprecedented surge in real time IoT data generation. Both the companies and consumers have benefited from this massive surge of real-time sensor-based data. Stream based platforms for big data processing and real time trend analytics is becoming one of the most popular tools. With the increase in adoption of these new smart devices and sensors around the world will demand more such real time systems and platforms to scale to the challenges of volume, velocity, and variety.
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Data Cloud: A relatively small amount of data management and processing is happening in the cloud today. However, according to the recent survey by Oracle around 80% of the businesses want to move their big data analytics into the cloud. 2017 saw a continuous growth and investment by some of the major players in the development of cloud based technologies for big data analytics. Cloud data management systems will ultimately enable new data architectures beyond today’s data lake and warehouses. Though, many companies worry about the privacy and security aspects of moving towards cloud based data management. The cloud-based systems are providing unique features and capabilities to handle all such issues. In 2018, use of Hybrid cloud is also expected to grow significantly, as this provides best of both worlds.
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More accurate and evolving Machine Learning models: Using Machine learning or ML techniques to provide some unique solutions are increasing at a lighting speed. Companies are using ML on their data lakes to get new insights and provide better predictive models. With an increase in the amount of data being stored and processed it is expected that in 2018 ML-based services will be much more smarter, faster and accurate. Ronald Van Loon, the Director of Business Development at Advertisement, said:
“Your digital business needs to move towards automation now, while ML technology is developing rapidly. Machine learning algorithms learn from huge amounts of structured and unstructured data, e.g. text, images, video, voice, body language, and facial expressions. By that, it opens a new dimension for machines with limitless applications from healthcare systems to video games and self-driving cars.”
Platforms and new architecture to support huge data processing for ML and AI needs both offline and real-time is growing and will be a major trend in 2018.
[1]: MarketsandMarkets Report News URL