Why does an invention powerhouse like World Patent Marketing keep talking about Big Data?
We can't stress the importance of Big Data enough. Every industry, nearly every department, now depends on business data analytics. In the age of digital transformation, big data has been taking industries by storm with the insights it can provide into customers’ needs and market statistics.
The future belongs to data science and having said that, let us look at the top 7 trends for 2017, in the realm of Big Data.
The Internet of Things (IoT) and Security
Big Data and the IoT are just different sides of the same coin. Organizations dealing in moving, selling, manufacturing of gadgets and appliances are attaching them to the internet by plugging them with sensors and mapping data with IoT.
It can generate massive amounts of data from billions of sensors connected to millions of devices; however, it is also very vulnerable to hackers. 2106 has already seen one such event, and 2017 may see more such threats unless appropriate security measures are taken.
The Advent Of Mixed Reality
The massive success of Pokemon Go was a wake-up call in the field of Augmented Reality (AR). Mixed Reality will be a very useful concept in the boardroom and will open up new opportunities for performing tasks and interpreting data.
Although this technology is still evolving, it can be very useful for performing unsupervised tasks. It can also excel in analysis and interpretation of unlabelled and abstract data just like a human mind does.
Blockchain has got a lot of media attention lately and is making some large banks keenly interested in exploring this technology. It has offered a myriad of applications including settling of transactions, recording smart contracts, and may also result in Decentralised Autonomous Organizations.
Artificial Intelligence (AI) on the rise
Once seen in science fiction movies, AI is now becoming a reality. Conversational AI will be able to work collaboratively with humans solving complex Problems. With smart devices connected to intelligent apps, the possibilities are endless in 2017.
Self-Servicing Big Data Solutions
Organizations have now come to realize the importance and the value data can bring to their businesses. But, not all organizations can afford this.
It has led to the development of self-service big data analytics enabling organizations to monetize their data without the need for the entire infrastructure. 2017 might as well witness the creation of a killer app to meet this end.
It is now the largest, open source big data project, with increased data processing speeds, and streaming to handle processing in near real time using an in-memory micro-batch approach.
There is a huge demand for more sophisticated data processing and analysis technologies. 2017 will certainly see some massive innovation in big data.
These are the top predictions for 2017. Lets us wait till the year arrives to see if our predictions find ground in reality.