Big data is one of the hottest tech trends that have taken businesses to the next level. Come 2020, every single individual is creating around 7MBs of data every hour. But what’s next? Will data continue to grow? Will big data and analytics solutions become a relic as quickly as the new trend? Big data is going strong and will make bigger strides in delivering eye-opening insights. It has become an essential resource for companies that wish to thrive in a highly competitive environment. It is estimated that the worldwide revenues for the big data & business analytics market will reach up to $203 billion in the year 2021 (source: IDC Research). Let’s take a look at the top trends and predictions of big data analytics that you should be aware with MiniBigHype.
1. Machine Learning Will Become the Next Big Thing
Have you wondered what empowers your smartphones to send personalized notifications from Amazon or Uber? These are just a few everyday examples of machine learning algorithms at work. Machine learning automates analytics by using algorithms and makes quick predictions, smart moves. Therefore, it is becoming the next big thing as it almost shapes our ease of living or improves decision-making skills. It brings value to your business as it analyses both historical and real-time data for evolving marketing strategies. Instant upsell/ cross-sell recommendations, and making smart predictions of customer behavior.
2. Real-Time Analytics Gains More Attention
Due to the widespread of mobile devices, the amount of data is generated is increasing significantly. Analyzing the data in real-time represents a competitive advantage to all the organizations. We all know that a small change in the marketplace can increase or decrease the value of your brand or services. Knowing up-to-the-minute information not only helps you identify the situation. But also let you survive and stand strong in the competition irrespective of the situation. Moreover, problems such as failure in production can mean serious issues with customers, suppliers, and even partners. With real-time tracking, you can recognize the possible failures, and correct them at the earliest.
3. Big Data is headingtowards the Store Next Door
It is a great metaphor that represents. How data-as-a-service is becoming commonplace for most enterprises and generates revenue from it. Data-as-a-service (DaaS) is not a new term for users who have encountered it in the form of music, videos, and images. However, many new players are entering the space. Including map data providers and product catalog vendors that take the concept to a whole new level. It enables you to keep data in a secured and single location, thus you can update it conveniently and quickly.
Top Predictions
- Big data will become more accessible
The key challenge today is that their data is not unified. By 2021, big data Analytics will become more accessible and useful than ever before. Building data lakes and other flexible storage environments was a top priority in 2018. Experts predict in 2021 that much of the critical data be housed in systems that are not only easily available but also opens limitless possibilities for every aspect of the business to be data-driven.
- DBaaSProviders Will Embrace Big Data Analytics Solutions
Database-as-a-service providers will embrace big data Analytics solutions for over a long period, as it quickly adaptable based on the client’s needs. With the continuous generation of data, enterprises are in constant search of unique ways that make their business operation work efficiently. By integrating big data analytic solutions into the platforms, DBaaS providers will host and manage data and also help enterprises to harness in a better way.
Summary
According to Forrester, all the companies are in the data business now. To gear up, you can hire a reliable big data service provider that can generate positive outcomes for your business. Partnering with a flexible and agile big data development team, you can ensure the success of your business and enjoy immense benefits.
Clavax is one of the leading big data services companies that offer a wide range of data analytics solutions to improve their decision-making capabilities. From consulting to implementation, the company is a one-stop solution for all your business requirements. The main motive of the company for using big data technology in the projects is to enhance the user’s life with the delivery of richer digital experiences & smarter decisions.
