The Future of Big Data Analytics: Trends and Predictions
An unparalleled rate of data collection is occurring globally. Talented individuals that can evaluate the data and make inferences from it are required because of this enormous expansion.
According to the International Data Corporation (IDC), the total amount of data generated worldwide could reach 175 zettabytes by 2025. To put that in context, downloading all 175ZB would require 12.5 billion hard drives, which is the largest hard drive currently in use.
By extracting information from enormous data sets and transforming it into useful data insights, data scientists and analysts are paving the road for future innovation. Continue to read on to explore all about the future of big data analytics.
Future of Big Data in the Business Field
Due to the fact that we are surrounded by the digital world, we can explore our vision of the future rather than remain stuck in an inconceivable past. Big data is viewed by many experts as a new force that will welcome human initiative and improve the business environment.
Big data is used in various industries, including marketing, machine learning, stock marketing, aviation, and education. As a result, you get the impression that big data enables users or leads to quickly access the right amount of information.
Future of Big Data in E-commerce
If we look closely, our lives are becoming accustomed to trends, social media, and artificial intelligence; thus, there is no future without big data. eCommerce is such an industry that benefits greatly from big data.
Being well-versed in data insights that support the company’s growth on the right path is increasingly crucial.
Consider India as an example if we were to discuss a specific nation. By 2025, the analytical industry in India is projected to lose almost US$16 billion, according to research.
Although it is true that keeping up with trends assists in maintaining our way of life, it is crucial to be savvy enough to recognize trends before attempting to follow them. Given that big data will be there for a very long time, it is an amazing field to enter.
Top Big Data Technologies in the Modern Era
1. Artificial Intelligence (AI)
Big data is unstructured information that must be carefully organized, differentiated, and integrated before use, whereas artificial intelligence is structured intelligence that emerges from data processing.
By taking into account all crucial business factors, AI facilitates better decision making. Modern businesses also depend heavily on big data to function. Big data and AI together are like effective management for increased business security.
2. Predictive Analytics
A subset of big data analytics called “predictive analytics” makes assumptions about potential future actions or events based on data from the past.
It includes :
● Machine learning
● Data modeling
● Statistical and mathematical modeling
3. Data Lakes
Big data is simply a lot of data, nothing more. It is basically housed in a data lake. It holds information that has been gathered from numerous sources and is of all types, including structured, unstructured, and semi-structured data.
With active participation and well-informed decisions, businesses that use these big data technologies can better respond to opportunities and accelerate their growth.
So, this was all you needed to know about the future of big data analytics. Turn to Education Nest to enroll in various informative courses like Data-driven Decisions with Power BI and learn more about big data analytics in detail.