Trends in Big Data Analytics

Author James Mash 10.3.2016. | 11:31

Currently we are witnessing huge hype that surrounds big data analytics. This is caused by fast development of computation that produces tones of unstructured data, every minute. This hype is also caused by people who are finally starting to realize benefits of big data structures in business, marketing, customer service, healthcare, etc.

Source: http://i.imgur.com

Source: http://i.imgur.com

By structuring and analyzing big data marketers can closely target their audience, huge corporate entities can track interests of every customer and business people can determine patterns in their customer’s behavior. For all of these and many other reasons, which are not listed, new big data trends are closely followed by various business and scientific communities. In this article we are going to list some of the latest big data trends.

Get ready for Algorithms

Today fast computation provides tons of data, even in small business enterprises and networks. When everybody already have big data storage, all they need for putting them into business use, are smart algorithms. Today many companies decide to hire Big Data Analysts, who establish data patterns, but since these specific pieces of software can analyze data faster and more precise than humans, we will see huge raise in algorithm development business. Accept algorithms we can also expect fast development of other business intelligence software that can be used for structuring and managing big data storage.

Data lake as a service

Data lakes are storage which use flat architecture, unlike traditional storage that use traditional files and folders. Basically these are simple storage on unvarnished bytes of data, which can be integrated, structured and analyzed.

Since the whole structure is closely tied with Hadoop platform, we believe that creators of this open-source software will soon provide bunch of different tools and other software solutions, which will enable us to conduct more advanced analysis of data stored this way.

Big data managing companies will also offer data lake storage as a service. In the same way as cloud technology, this will enable users to store their data in data lakes, use tools which are on the offer, without the need to build or maintain their data lakes.

Increased popularity of Blockchain concept

Database that works as a public record of events that happened online or in certain closed systems. Although this unique concept has been closely tied to digital currency (also known as Bitcoin) it comes with many other possibilities.

Since the launch of Bitcoin, many different banks around the world are experimenting with Blockchain concept, including: Goldman and Sachs, Santander, UBS, R3, etc. This can only mean that in the future we will see increased number of systems that will use blockchain technology, and who knows, maybe one day we will have a World Wide Web blockchain ledger, which will represent the history of all our online clicks.

Government use of big data

Now you probably think about conspiracy theories, Snowden, CIA and NSA, but believe it or not, governments will start using big data to provide better service to citizens, and not just to spy them. Of course some people will view this as an attempt to disrupt our privacy even more, but think about it, if the all big companies are already using big data to improve customer experience, why wouldn’t governments do the same, at least if they want to get elected one more time. This means that we will see huge rise of eGovernments all around the world. Currently the only highly functional smart-government works in Estonia, whose citizens have complete control over their data.

With all these new trends we can surely say that 2016 will be very exciting when it comes to big data. As a bottom line, we can say that many operations that are currently done by humans will be taken over by smart algorithms, but since this fast advance in big data research will bring more importance to this sector, Big Data Analysts and other people who work in this industry don’t need to panic, because they definitely won’t become redundant.

 


This Guest Post was written by Sonya Watts. Sonya is a passionate business consultant from Melbourne, Australia. She has a wide range of interests, including online writing, technology trends and marketing in general. Being a regular contributor to BizzmarkBlog, she likes to share her own experiences in those fields. You can find her on Twitter – @wattsmsonya

Author James Mash 10.3.2016. | 11:31
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