Nowadays, it would be difficult to understand the digital transformation phenomenon without Big Data technology. However, do you really know what it is?
What is Big Data?
Big Data is a term that is used to describe large volumes of data that can be analysed to reveal patterns and trends, especially related to human behaviour and interactions.
It has taken the world by storm, and there are no signs of it slowing down.
Machine Learning will be the next big thing. It will help businesses with preparing data and conduction analysis.
Privacy will be a challenge. The stakes of security will be higher due the increasing volumes of data. If there is not an efficient way to deal with this, the trend will fade very quickly.
It is rumoured that businesses will create a new position called Chief Data Officer (CDO). The position won´t be present in every company, because it is dependant on the business type and its data needs.
The demand for data scientists and analysts will increase, as the volume of data and big data grows. This would help data scientists and analysts to have higher salaries.
Investments in the technology will be sky high. According to International Data Corporation (IDC) analysts, “Total revenues from Big Data and business analytics will rise from $122 billion in 2015 to $187 billion in 2019.” This is an extremely large increase of $65 billion in the space of 3 years.
A higher number of developers will join the revolution. Statistically, there are already 6 million developers that work with big data and analytics, which makes up approximately 33% of developers worldwide. Therefore, as it´s use grows over the coming years, the number of developers developing applications that utilise Big Data will also surge.