Big Data

A man demonstrating cloud computing. / Photo by: Getty Images

 

The field of big data, especially analytics, has grown to such an extent that it is now a crucial part of most business strategies. Organizations are facing intense pressure to keep up with rapid advances in the field. Cloud computing, machine learning, data governance, and the need for real-time analytics are the top four trends in big data, according to Cynthia Harvey, writing for Datamation. 

Cloud Computing

Analysts expect big data is moving to migrate to the cloud platform. Brian Hopkins,  vice-president and principal analyst at market research firm Forrester, predicted that global spending on cloud subscriptions for big data solutions will increase almost 7.5 times faster than on-premise subscriptions. He said this view is supported by the fact that public cloud was the top priority for big data, based on previous surveys of data analytics professionals. He claims thst most enterprises will not be able to resist the cost advantages and innovation available through public cloud services. 

Faster deployment, improved security, better performance, faster insight into data, easier user access, and cheaper maintenance are some of the expected benefits to be derived from cloud analytics. 

Machine Learning and Artificial Intelligence

John-David Lovelock, vice-president of research at Gartner, stated that artificial intelligence is going to be the most disruptive technology in the next 10 years due to new developments in computing power, volume, velocity, variety of data, and deep neural networks. He added that the global business value derived from artificial intelligence will increase by 70 percent in 2018, reaching $1.2 trillion for the year.

Data Governance

A survey done by business intelligence company AtScale showed that data governance was the second biggest challenge faced by respondents. Data governance deals with ensuring the accuracy, availability, security, and compliance of data. The recent scandal involving Facebook and Cambridge Analytica may be the reason for the renewed concern for data governance. The controversy involving the two companies illustrates the public relations nightmare that can result when data are not properly tracked and user or customer privacy is not adequately protected.

Real-time Analytics

In order to meet the need for real-time performance, organizations are increasingly using in-memory technology. It is faster than accessing data stored on a hard drive or a solid-state drive and can lead to huge improvements in data processing speed.