Big Data Analytics has significantly changed the face of business intelligence in the last decade. The big companies have been spending a fortune on technologies to utilize the enormous amount of data that consumers leave behind every second. Big data analytics has already made a big-shift in business, the field is continuously evolving, and innovations are marked every other day. Let’s have a look at what it holds for the year 2020.
The increasing data is a big problem; we now have voice data, sensor data, mobile data, etc. All these data are getting bigger; it almost doubles every six months. The data can be unstructured and needs to be stored. The cloud-based technologies are already popular and is expected to rise by 60% in the coming years.
Many of the more prominent companies are already using IoT technology to perform their daily operations using data analysis. In the year 2020, the IoT devices will be installed on many devices to collect data for analysis. It would not only provide relevant data but would also offer transparency.
The Artificial Intelligence (AI) and Machine Learning (ML) algorithms would take the lead in data-driven organizations to automate the ease of the data governance process. The algorithms would be used to automate the processes of data engineering, data analysis and data sorting.
It is expected that 90% of the larger companies will generate some revenue from the Data-as-a-service (DaaS) in 2020. DaaS is a cloud-based technology that allows sharing and accessing large files in real-time using the internet. It will improve the productivity within an organization considering its reliability and sharing speed. Augmented Analytics has already shown steady growth. It combines AI and MI technologies to automate many analytical processes and build models, making it easier to use.
Data security and privacy protection would be a significant concern for various industries. The use of backups and snapshots to ensure data safety and reliability will increase manifolds. Though most of the data is private and confidential, the use of back-up systems will increase.
A combination of all these technologies will undoubtedly develop more intelligent and smarter systems that will be customer-oriented.