There are not many people in their roles today that have not been affected by the explosion of Big Data and what it means for businesses across the globe. But what can we expect in regards to growth through to talent in 2017? Here are five areas to think about...
1. Big data is getting bigger - literally!
Data sets are getting bigger, so the opportunity and business potential is also growing. Businesses continue to generate larger and larger volumes of data, as do consumers, whilst the number of internet connected devices continues to grow in our homes and businesses. More data can mean more insight, which in turn can lead to more opportunity.
2. Machine learning will begin to dominate
As the Artificial Intelligence (AI) world develops, so does the potential of Machine Learning applications. Early adopters of advanced Machine Learning techniques such as DNN (deep neural nets), will see the full potential of Machine Learning to their knowledge of data and the ability to spot correlations and trends that may have been missed otherwise.
If you want to know more about Machine Learning then Google’s new A.I. Experiments page gives an interesting insight into the power of tools and capabilities of advancements in this area: https://aiexperiments.withgoogle.com/.
3. How do we keep it safe?
Privacy and Data security will continue to be the biggest challenge facing the industry into 2017 and beyond. With the emergence of the “hacker industry” and government regulations tightening up on businesses, Data security has never been more crucial. It is essential that the Big Data industry tackles potential issues and security threats, especially as Gartner predicts that by 2018, 50% of business ethics violations will be related to data.
4. Visualisation of data is key
Visual Data discovery tools are growing at a rapid rate, demonstrating the importance of the Big Data industry being able to simplify the understanding of insights. It is predicted that visualisation data platforms are growing 2.5 times faster than other BI Market solutions.
Not everyone is a Data Scientist, so the ability for businesses to create intelligent insights that are easily digestible and understandable across the business is essential for them to take full advantage of the data, as well as driving engagement and potential with it.
5. Big data effects all businesses
It is apparent that all businesses, large or small, need to get on board with harnessing the potential of their data in order to survive. This opens up the market to vendors offering solutions to smaller companies and SME’s who may have been priced out before. Therefore forecasts for the continued growth see the industry being worth over $50 billion in 2017.