By 2025, the big data market estimates to grow to a commendable size of USD 123.2 billion, says the Grand View Research. The big data hype is going strong and is poised to take bigger and larger strides in the next decade. At a CAGR of 10%, revenues from big data and business analytics, they are bound to grow beyond USD 76 billion by 2020, predicts SNS Research.
All these vistas are making it even more exciting for the big data world. Let us take a glance at some of the exciting trends in big data.
Wealthy job opportunities
As careers in big data and data science grow steadily, professionals in the big data space need to delve deeper into big data skills and get in track with what the industry is looking to hire today. Due to the increased in demand and deficit supply, organizations are compelled to make big data as one of the most lucrative professions of the century. Tech professionals with an aspiration to launch their careers in this field are making it happen by taking up big data certification programs.
According to “the Bureau of Labor Statistics (BLS),” an estimation of approximately 30% of job growth will be seen in the field of data science before we hit 2026. This predicted growth is seen to outpace the national average in terms of job opportunities resulting in 50,000+ newer jobs. The tremendous growth is due to the steady rise of businesses and big data systems adopted by governments.
Why not, the rise of technologies such as machine learning and artificial intelligence has only accelerated huge job opportunities in most industries. What’s even more surprising is the data that is generated. In a world where there is about 7.7 million population, we’re already contributing toward creating 2.5 quintillion bytes of data daily. With humongous data that is generated, the world will need more and more professionals in the big data industry.
Honestly, this means there will be huge job opportunities available worldwide. However, with limited data engineers, data scientists, or business analyst this won’t cater to the needs of big data. Aspiring data professionals must possess in-depth knowledge of the emerging big data trends.
Evidently, it is not tough to grab big data skills. There are online certification programs in big data and are not tough to choose one that suits you best.
For instance, there is big data certification that constantly focuses on developing skills in the technology part of big data and analytics. The latest certification programs are now including topics like market analysis and business intelligence.
Bulk data sources
With machines playing a significant role, businesses are now relying on data sources. Artificial intelligence (AI) are now scraping data from sources that were once unavailable to obtain from i.e. computers. With machines having this ability, collecting and processing data on a larger scale is now within the reach of more businesses.
Nonetheless, AI is now acquiring more data sources, to which we can easily relate how data can be distributed. You don’t need to rely on fixed sources for big data analysis anymore, this will be easily available from a dynamic set of data sources today.
Let’s quote an example here, if big data analysis is applied to social media networks, there are higher possibilities of obtaining better and deeper insights from multiple users.
The availability of bulk and newer data sources simply means having more businesses that can use big data to take up data-driven decisions.
Predictive analysis, the biggest trend today. With AI’s help, today, computers can consume and process large amounts of data. They get better in predicting tomorrow’s future. These insights are made based on the data previously collected. It won’t be long before predictions will be made with the right accuracy.
Predictive analysis is already implemented in several industries. The maintenance industry is now using big data analysis for predictive maintenance. Besides this, big data is now used in advertising as well. If you’re able to see ads advertised by ad networks that are accurate to your personal preference, then you’d know ad networks have perfected in analyzing and predicting behavior with utmost accuracy.
The big data industry has created a strong force of job opportunities for professionals in the big data realm.
When multi-cloud was hyped, many experts believed that big data would be replaced by something even better. In reality, it only made the cloud environment more efficient further strengthening big data analysis.
With distributed data, you have affordable cloud storage, better options in terms of processing logics, and more computing power.
Other new-age technologies like blockchain are also accelerating big data’s power.
Machine learning – big data’s ultimate solution
Since AI and big data are in close synchronization it is evident to have both machine learning and deep learning gain huge benefits through big data. The data analysis model gets developed faster to provide the process of machine learning is completely supported by data labeling and data collection.
Big data analysis is much more effective with the help of machine learning.
Yes, the outlook for the big data industry looks overwhelming!