Big Data Predictions from 2020. By 2025, our global data sphere is estimated to generate 175 zettabytes, one zettabyte amounting to one trillion gigabytes. That’s huge!
Ever since its inclusion, ‘big data’ has been a hype in the technology world. The hype technology has remained to be some sort of a miracle for most of the corporate woes in the digital age. Hypes can be a predicament that remains impermanent. But will this have the same fate with the big data industry?
No, big data won’t face the same fate!
The exponential growth of big data shows no signs of slowing down. Humongous data is being generated via the internet – social media platforms, text messages, transfer of media files, and web search requests. According to Statista, another share of data generated is due to the utilization of IoT devices and sensors and is estimated to have reached to near about USD 49 billion in size.
Big data is here to stay and is poised to grow stronger providing positive strides in delivering positive insights. Organizations and top industry leaders are seeking to reveal great value from it and not just some sham promises.
On this note, we shall further discuss the future of big data and where it currently stands.
Big data beyond 2020: interesting trends to ponder upon
Data scientists and chief data officers (CDOs) to move to the foreground
Data scientists and chief data officers (CDOs) are going to be the key trends in the forthcoming future. These job roles may be relatively new, but the need for their expertise will reign in the labor market. As Gartner predicts, for every 9 out of 10 companies out there, they all will be needing a CDO.
To reiterate the spirits of Gartner, NewVantage Partners made a declaration stating that nearly 62.5 percent (3/5th) of the firms have newly appointed CDOs.
Further on, chief data officers to possess higher authority with these firms. Most businesses will expect them to be at the forefront making data monetization decisions.
As data generation escalates, enterprises will need to bridge the gap between the demand and the supply of big data professionals.
A KPMGs survey in 2019 demonstrated 3600 CIO along with technology executives from across 108 countries confirming the fact that nearly 67 percent faced difficulties with skill shortages ever since the record updated in 2008.
Amongst the skill shortages, the topmost skills included enterprise architecture, business analysis, AI, cybersecurity, and big data analytics scoring the highest scarcity.
This is one major reason why data scientists have become one of the fastest-growing jobs across the globe.
A data scientist is considered awesome only if they have extensive knowledge of machine learning algorithms, data platform and tools, programming languages, and data manipulation techniques such as managing ETL purposes, building data pipelines, and preparing data for analysis.
Data generation will raise its head
Most of the data experts proclaimed that data is bound to grow exponentially in the future. A report – “In its Data Age 2025 for Seagate” IDC predicted the world to generate 175 zettabytes by 2025. Now imagine how large this number could be – this could be measured in 128GB iPads. It is said that in 2013, the data stack would have far stretched two-thirds of the distance between the earth and the moon.
This data stack would amount to have exceeded 26 times longer by 2025.
And why do data experts believe the growth of data will keep increasing?
Well, with the number of internet users worldwide generating businesses online – from communications to social-networking to shopping, it’s all data.
- Total population – 7.676 billion
- Unique mobile users –5.112 billion
- Internet users – 4.388 billion
- Active social media users – 3.484 billion
- Mobile social media users – 3.256 billion
Secondly, with massive connected IoT devices created daily, the growth of data will only rise.
Such large datasets will be challenging to analyze unless we don’t have a sufficient supply of big data professionals to handle this responsibility.
Rise of machine learning to change the landscape
The emergence of machine learning is playing a huge role in the big data industry today. As said by Wei Li, Vice President and General Manager at Intel,
“Machine learning is becoming more sophisticated with every passing year. We are yet to see its full potential—beyond self-driving cars, fraud detection devices, or retail trends analyses.”
Machine learning is a technology adopted by multiple players in the tech industry in an attempt to boost daily business operations.
Within 2019, machine learning topped the ranks by receiving the largest funding as compared to all the other AI projects combined. Until recently, where these applications remained unavailable due to the growing use of open-source platforms. These platforms were developed to create a bridge between the technology and people, however, the sad truth is, businesses are yet to come up with skills that could maneuver solutions on their own.
Contrarily, technology experts have an opinion stating that as time gradually passes by, computers will considerably be able to learn from data with the help of advanced unsupervised algorithms, cognitive services, and deeper personalization.
This will result in having machines that can easily drive cars, read emotions, treat patients, and explore the space.
Actionable data and fast data to proliferate
The rise of ‘fast data’ and ‘actionable data’ is another prediction the big data industry will experience.
This is nothing like big data, where they’re reliant only on Hadoop and No SQL databases to analyze the given information in batches.
Fast data is all about allowing data to process in real-time streaming. The major reason why data can be analyzed without the hassle and within a millisecond. This provides an add-on advantage to organizations making instant business decisions and will be able to act as soon as the data arrives. However, this could also spoil the habit of the users making them addicts of real-time interactions. As businesses accelerate it is driving organizations with better customer experience, thus consumers have high expectations to access these data as soon as it arrives.
By 2025, about 30 percent of the global data will become real-time, predicts IDC.
The future of big data is bright: organizations to make a transition from data-generating to data-powered.