The future of big data Analytics and how companies utilize these and Big Data predictions in the upcoming year 2017
What if I tell you that data could help you measure your customer success? Yes, we can now. All thanks to big data. What if you could find out how stingy your future employer could get? What if the police could crack into a master bank robbery plan that a team of ITcrats is planning so that they could be billionaires in no time?
Whaaaaattttt? Did I just say that you could get an insight into the future? Yes, indeed I did, and I just asked my colleague to pinch me hard before typing the next sentence to ensure that I am not dreaming, and I would suggest you to pinch yourself. So, now it’s clear any of us are not dreaming. Lol!!!
The point is if you are the business owner, you cannot survive the game unless you can manage a massive amount of data simultaneously. It is high time you thought of a unique way to preserve all those heaps and volcanoes of data that you are dealing with on a routine basis. And, in near future we would need to discover a yet new and innovative science of storing data from various sources starting from the highly confidential government documents to the scores of digital data that we generate every day each minute.
All this summed up forms the big data that we are going to explore in-depth throughout this article. It was not until recently that I started my research on what big data is all about and from what little knowledge I could find over the Internet I developed a write-up on Big Data: Analysis, Scope and Future. But, I realize it comprised of just the basic details which will not quench your thirst for more information and mine too.
So, what could big data mean?
For now I shall brief big data as a revolution set to change the world of Information Technology and communication and the way data is perceived and stored. Ok! So, that solves the confusion.
When do you think was the last time during which the world witnessed a massive revolution set to change human lives forever?
Think! Now, don’t tell me it must have been the World War II.
Yeah, of course the war has had its impact and we could find it gave rise to devastative weapons ultimately leading us to the nuclear age.
But, that is not our concern with Big Data. We are discussing a positive change that brought about an impact on human lives changing it forever.
My dear friends, it is the computers that I am bragging of about, don’t you think it has changed our lives forever?
Yes, it has in many ways.
Computers and Information Technology has changed the way we use and store data bridging the communication gap that restricted people from coming closer.
Now, its big data all set to create hype after the revolutionary change that Computers brought about to the world.
As I already mentioned if your business needs to find success, it should be capable of dealing with the oceans of data that we are generating each day. Do you think your business has got the thing in it?
There should be some innovative method with which you can transform this raw data into a form that could help you understand in-depth about the customers, competitors, and the market in real time. Also, you need a technique that would help you to measure and manage the performance of all the valid data parameters in your data couture more accurately and this is the scenario wherein Big Data enters providing you a better interface on Data Analytics.
Get ready to make a shift over from the current working model of methodologies that are incubated on the basis of experience, guesswork and of course the reality archetypes that was generated from a lot of hard work.
All this summed up together is what forms Big Data.
So, how do we define Big Data?
When volume, velocity and type of data tends to exceed the organization’s storage or compute capacity making it difficult to devise accurate and timely decisions, then, comes the Big Data, the game changer, your savior. And, all organizations are in need of Big Data at some point or the other as it is impossible to deal with immense volume, velocity and different types of data simultaneously when it exceeds a pre-set limit.
Big Data emerges:
Big Data was not introduced today or yesterday. It has been around for a long time now. As per an article published in datasciencecentral.com it cites instances in which the presence of big data dates back to as early as Mesopotamian 7,000 years ago. It was during this time that accounting methodologies were implemented to record the growth of crops and herds. And, another interesting fact is that the first data processing machine named as Colossus was developed by the British in the year 1943 to decode Nazi codes during the World War II.
This machine developed in the year 1943 could intercept messages at a rate of 5,000 characters per second while searching for matching patterns and the result was it helped to reduce the effort which might otherwise take up the entire time preventing them from concentrating on other more important tasks.
The electronic data storage era began as early as in the year 1965, when the U.S. government developed the first data centre that was capable of storing upto 742 million tax returns. And, the amazing part is that this machine is capable of transferring all these records over a magnetic computer tape that was to be stored in a single location, but was later on abandoned.
And, in 1989, history got its World Wide Web and Tim Berners-Lee, the British Computer scientist was the brain behind the connectivity world of web that connects us to our dearest ones across the globe. Then, came super computers in the year 1995 and these could do as much work in a second as much a person can in 30,000 years of his/ her lifespan.
Then, came BIG DATA in the year 2005 and I know you are eager to know the person behind the term, it was Roger Mougalas from O’Reilly Media. The term big data was derived from Web 2.0. And, the definition of Big Data was quite simple and easy to understand as it states these are large chunks of data that are impossible to manage and deal with using the traditional tools of business intelligence.
So, why do we need big data?
What do you think you would do if someone told you that these minute bits of information that you are storing in the augmented universe has started to exceed the total number of stars in the real universe?
Now, it’s not a myth, but, fact. And, let’s face it.
The amount of digital information that we are generating each and every day tends to exceed the limit that sums up to a total of information we have been generating since the beginning of the year 2003. And, to add some cream to the cake, 90% of all existing information was created in the past two years, which means in the last one year there was information generation like never before in the history.
If were to burn all the data that is generated on a single day onto a DVD and stack them one on top of each other it would be as tall as the moon.
As a user how do we contribute to the evolution of Big Data?
Are you aware of the fact that in a minute we can send around 204 million E-mails and when it comes to Facebook utilization people share around 30 billion pieces of data every day?
Yes, it’s not you or me who is using Facebook, but millions and millions of people from all around the world are using it. And, the number of Smartphones in the world is as high as 1.2 billion and by the year 2020, the number of Smarphone users is expected to hit a number of 6.1 billion across the globe.
Did you know that around 570 websites are being generated around the world every minute every day?
And, the next big thing the Internet of Things is expected to generate revenue as high as $300 billion by the year 2020.
By the year 2020, around 1.7 megabytes of new information will be generated for each human being every other second.
And, in the previous year, the demand for resources that can operate across data and analytics has crossed 4.4 million jobs across the globe. But, only one-third of these openings have been filled.
So, the people who have been training themselves to take up Big Data jobs grab the opportunity and find your call.
The next team that are going to benefit with the increase in the amount of data are the leadership technology providers who are capable of building complete range of strategies and plans that can incorporate the enormous chunks of data that are going out of control.
So, now Big Data and Data Analysis are the industry leaders that will offer a set of technologies and tools to handle the overflowing tides of data.
Are you planning to rock the stream of Big Data? Then, join in the revolution today and take your business to the next level.
If you are all set, one of the setbacks that you might encounter on your venture would be the lack of skilled resources as we already discussed. A number of businesses that have entered into offering Big Data Analytics services are experiencing a pull back as they have very less resources that have the analytical skills and talent to perform Big Data work.
These leadership teams find it difficult to get people who possess the required set of skills to perform Big Data Analytics.
Let me put forth some predictions that Big Data will be armed with to change the future of Technology:
#1. Accommodating the ever growing bundles of data:
As we already know and have discussed the need for a system that will store the data that is increasing every day. Yes, the growing popularity of these hand held devices including Smartphones and Android devices and the devices that favor internet connectivity are increasing every other day which makes it possible to produce more and more data per day. So, Big Data needs to be introduced to give space for all the data that is being produced daily.
We know that huge volumes of data are being produced and to store this we need an advanced technology system like the Big Data. But, the privacy of the data that is being stored in collaboration with the big data schema is to be ensured and it is one of the challenges that we are going to face in near future.
#3. Improvised data analysis techniques:
Data is going to be produced in huge bulks. It is essential to have a great data analytics techniques or tools to analyze the data that is being produced. SQL still remains the standard tool but Spark is one of the emerging tools that will boost the current data analysis structure.
#4. Real-time data streaming:
Users will be provided with insights into real time data streaming. This will help them to take better decisions relating to anything and everything.
#5. The need for chief data officers:
As more and more data evolves, big data will be altered and modified and more companies will see the need for appointing a chief data officer. But, in future as the big data evolves into a machine controlled technique, the need for a CDO will slowly decrease.
#6. Demand for big data experts:
As time evolves, we will need more number of people who are experienced at working on big data. The year 2017 will witness the need for big data analyst scientists, researchers and other experts.
#7. The need for adopting the change:
All companies will need to adopt the change that is going to revolutionize the world soon. And, you need to be a part of it. So, if you are company still does not use big data it is high time you started implementing it.
Also, a small note for those companies that focus only on web development it is better if you could spin around the wheel and rope in big data analysis services because your clients are not going to be too happy if you refuse to offer them big data services and solutions.
So, it is time to arm ourselves for the big data revolution that is all set to change the world of web.
So, who are actually capable of performing Big Data?
Data scientists, who possess mathematical, analytical, technical, and industry knowledge and experience along with the business judgment power that gives them an insight into the future scope combined with soft skills are the right choice of people.
If your organization has resources that possess the above listed table of skills, then utilize it and get them work on Big Data Analytics. These unicorns are the future of your business.
So, what are the qualities you must consider when hiring a data analyst?
They must be capable of:
Analyzing the resulting data with effectiveness
Ask the right kind of business questions
Realizing what kind of statistical approach will fit in to tie up together volumes of amorphous data.
Applying the right kind of skills while working on extraction and data analysis and these includes presentation skills, analysis skills, database skills and other coding abilities that they possess.
And, what is the technology that could be used for processing Big Data?
As I have already taken you on a tour across the large chunks of data that needs to be processed, do you think any simple forms of technology could suffice or fit in the process?
Never, it is out of question.
It will require core competent techniques to process the huge chunks of data within the short span of time that we have.
Thanks to the open source technology that makes all the software available at affordable prices, the tools and techniques that have to be implemented to make the big data process a success is almost easily available these days.
So, what are the processes involved?
Natural Language Processing
Data fusion & Integration
Time Series Analysis & Visualization
I believe there is hardly anyone out there who hasn’t come across the term Hadoop while searching for terms related to Big Data. It is one of the most commonly used frameworks that is capable of combining commodity hardware with open-source software.
Hadoop is capable of handling the large streams of incoming data which it collects and then distributes across cheap disks. Also, it possesses tools to analyze data which is what big data is all about.
Big Data is the future that is soon going to replace all conventional concepts of data management and data warehousing and the new generation is all set to break these existing contingencies that is preventing us from embracing more and more data.
Do you specialize in Big Data Analytics? What kind of services are you providing in Big Data? What do you think will be the state of Big Data by the year 2020?
Share your thoughts, feedback and comments with us.
Acodez IT Solutions is a big data analytics company based in India offering a wide range of big data analytics and other web design services to our clients in India and abroad. If you are looking for someone who could help you with the big data services then we are the right choice. We have ample of years of experience and skilled resources who can provide you with 100% satisfactory results. For more information, contact us today.
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