Data was the most talked about subject in 2017. We have encountered several narratives such as AI replacing human workers, lapse in security of data held in the Cloud, and other hotly debated revelations. Whatever the case may be, there is a strong sentiment within markets that favor data-driven strategies and the anxiety isn't an excuse. As we embark on another new year some changes are expected to take over in the field of Big Data. Latest developments are likely to accelerate as we embrace data enlightenment, but it remains to be seen how organizations will harness the change to drive revenue.
While the growth of Big Data cannot be contained, it is still too early to pinpoint the direction of change with precision. So, we have compiled 7 upcoming Big Data trends of 2018 to let you know what to expect this year.
Keeping your organization updated with the latest developments helps in making the right business decisions at the right time. Big Data developments this year is all about Quantum computing, the Cloud, real-time analytics, and more. Read ahead to know the latest trends on Big Data that will influence your business growth -
More companies will adopt a Cloud-first policy in 2018 despite old canard surrounding the technology. From time to time, technology experts are busy dispelling concerns with data security while making masses realize the real narrative that data held in the Cloud is safer than holding them on premises.
The exponential growth of Big Data as a Service (BDaaS) is because of the immense support it provides for organizing remote tasks. It harnesses the Cloud support to enable hassle-free and secure access to employees working remotely. The most important takeaway is that the Cloud offers speed, scalability, and expediency while helping users to avoid runaway costs.
According to a report on Worldwide Market Forecast and Analysis (2016-2021), streaming analytics market was predicted to touch $13.70 billion by 2021 at a compound annual growth rate (CAGR) of 34.8%. This prediction seems to hold true for present-day markets.
Big Data analytics was an exclusive practice carried out by Fortune 500's to analyze streaming data from the Internet of Things (IoT) devices. However, many small- and medium-sized businesses will exploit real-time analytics in the future, thanks to the pervasiveness of Big Data technology and its affordability. Many companies in the past and recent times have turned to an in-chip and in-memory method to aggregate data faster than the competitors. In this way, profitable revenue can be made before the rest of market adopts the trend.
According to data from Rogers Adoption Curve, SMBs are moving from early adopter to early majority stage in 2018. This year, big data trends will be driven by the surging demand for collection and analysis of data. Hence, it clarifies one thing - powerful corporations are not the only ones in need of real-time analytics.
Big Data is just a tip of the iceberg. It comprises of machine learning, analytics, data collection, and data security. Each of these elements is largely unrelated to another yet they are viewed as an integrated system rather than with their parts. The application of these individual components is becoming known to common man due to the proliferation of self-driven cars, AI robots, and other mind-blowing technologies based on Big Data.
According to top Big Data trends of 2018, this technology will be viewed in a holistic manner and use of data as descriptor will fade out gradually.
In recent past, normalcy was severely affected due to the increase in hacking incidents. Nowadays, commoners are wary of the consequence of data loss or mismanagement, thanks to the spate of incidences from Russian meddling in 2016 US presidential elections to Cambridge Analytica scandal where Facebook exposed data of 50 million users to a political-research company. It is an inevitable truth that we have allowed data companies to have a firm grip on our lives.
Vast development in AI is allowing innovators to introduce technologies that were first envisioned in science fiction. On the contrary, there is a growing suspicion among many who strongly advocate against over-automation because it would threaten jobs globally and widen the inequality gap even further.
The impact of media's scrutiny on Big Data industry is not fully known. However, according to top big data trends of 2018, media's scrutiny is more likely to awaken the public by urging them to see positives and negatives of Big Data's proliferation.
Quantum computing is the buzzword doing rounds in the industry because its potential was demonstrated in a series of test runs by top tech giants such as Intel, Google, and Microsoft. In 2016, Google estimated that 49 qubit quantum computers would become operational before 2018. Later, 50 qubits were revealed as a-proof-of-principle. However, making quantum computing available for the practical purpose is still a while away from becoming a mainstay.
In 2018 and beyond, quantum computing will evolve from mere numerical abstractions to tangible and scalable machines that will become the pith and core of Big Data industry.
In the future, sophisticated hacking will place a significant burden on technology companies to implement complex counter mechanisms to stay ahead of the threat.
In the last three to four years, we have witnessed several big hacks that affected businesses globally. The recent incident includes ransomware attacks in 2017 that resulted in a huge monetary loss for companies whose data had to be rescued from hackers for a ransom. The alarming rate of hacking incidents indicates that data thieves are using tech skills to compete on an equal footing with those trying to thwart the grand theft.
In the future, data thefts will reach record heights due to a large amount of personal information that is being collected and consolidated by data companies worldwide on a day-to-day basis. Although some hacks ended up with the arrest of criminals, many incidents still go unreported. With a small chance of getting caught, hackers see it as a rewarding opportunity to steal digital data.
In 2017, we have witnessed an increased adoption of AI in technologies we use on a daily basis and given the growing demand for cognitive processing, data science, and automation, AI is set to become a key part of Big Data developments in 2018.
AI was responsible for innovation in autonomous cars and increased collaboration between technology developers and governments will pave way for exciting new developments in future. This will lead to the creation of more centers of excellence on Artificial Intelligence for making this technology more accessible and truly future-ready.
Voice-controlled AI personal assistant services from Amazon, Google, and Apple are harnessing the Cloud technology and Big Data to deliver a highly personalized experience to average users. It is one of the latest trends in Big Data where market size is expected to reach $10 billion by 2020.
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