Rise of Big Data has been one of those tech trends which has constantly elevated in terms of growth and evolution. Perhaps after cloud, Big data has been the single largest influencer for organizations across diverse sectors in terms of decision making and is identified as a propeller of growth. To substantiate its impact, by the end of 2018 the big data market is all set to witness a whopping market share of over $46 billion.
Open Source frameworks such as Hadoop, NoSQL, and Spark will see massive market expansion as more companies will find the sweet spot to adopt such platforms going forward. According to a research by TDWI, more than 50% of organizations are planning to drive Hadoop clusters within their production systems by the end of 2018, which means that the overall rise of Hadoop will clock 32.9% in terms of adoption each year.
Big data in general alone is estimated to drive great revenues for organizations and according to IDC, the number is a staggering $203 billion.
– Predictions from Experts
The demand for data visualization techniques will continue to rise as innovative and effective visual patterns will become the norm and will continue to evolve. This will also give rise to effectively analyze patterns through data discovery with the aim to uncover deeper business insights. The amalgamation of data visual and data discovery techniques will only enable better processing of data sets unraveled through compelling visual models.
Though the era of digitization has had a great leap, it is still a very known fact among the industry peers that a large number of data is still available in analog form. These data are stored in many amorphous forms such as images, documents, pics, historical records, hardcopies and across many other non-digital formats. Unstructured data from various social media platforms such as facebook, twitter etc, are generated every second and this accounts to a massive number apart from data from video surveillance and other digital trends. All these are in the waiting and will be the next course of action orientation for firms to leverage upon. This means that there will be abundant data volume providing more scope for processing the data. In the end it will be all about merging various data sources and leveraging big data analytics to help firms make smart-better decisions envisaging effective actions.
Machine learning and AI `will continue to skyrocket as more businesses will look forward to transform their business position. With more fraudulence and hacking related activities on the rise, use of fraud detection techniques, pattern recognition, and other voice recognition techniques by the impetus of AI will make organizations be braced for any impediments and be more smarter in the coming years.
The above are some of the predictions and usurping trends which organizations can leverage upon and find more ways to adapt and thrive in the evolving marketplace. Going forward, it requires a conscious understanding and planning of a company’s strategy and technology roadmap which should also include healthy investments on the right technologies while also being abreast of the challenges that the future days bring with them.