Big data is all about turning facts and figures into insight, but when it comes to the industry itself, it’s still down to humans to predict the future. Here’s how we expect 2018 to develop the sector.
All About The Analytics
To date, much of the hype about big data has been quantitative, with bold claims about the sheer number of gigabytes handled or the speed of processing. While that’s been great for people inside the industry to benchmark their respective achievements, it hasn’t cut through to the public. They’ve simply been left looking at large numbers and wondering what it all means. Look for big data firms to make their mark in 2018 by taking a new approach: showing how analyzing big data brings revelations that make a recognizable difference to people’s daily lives.
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Let’s be honest here: for this 2018 trend, we’re probably talking more about the journey than the goal. That goal is true streaming analytics: the ability to process and analyze any data set while it’s still being created. This would mean getting insights that are literally up-to-the-second without needing to replicate datasets. Right now this usually means compromising by either restricting dataset size or allowing for a delay, but 2018 will take us ever closer to removing these limits.
Crunching The Numbers
Big data firms sometimes get so caught up in the technology that it’s hard to put themselves in the minds of their customers. Decision-makers need to justify choices such as using data analytics and cold hard figures are often the key to this process. Look for service providers to include tools that make it easier to put a dollar figure on the benefits and savings that come from running the analytics, in turn making it easier for customers to deal with the internal politics of departmental budgets.
IT to IoT
The jury’s still out on whether gadgets such as the Amazon Echo and Google Home really will break through to the mainstream, but the involvement of big name brands shows businesses and consumers will make increasing use of internet-connected devices beyond the usual computers and phones. This boom in the ‘Internet of Things’ means more data being created and thus more potential for analysis. 2018 might not be the year this becomes a big money opportunity, but it’s definitely the year companies should be getting ahead of the trend.
IoT expansion goes along with cybersecurity issues and safety concerns arise. Cybercriminals can, for instance, break into the power grid, traffic systems or any other connected system with sensitive data to shut down the entire cities.
Whether it’s bedroom hackers or state-sponsored cyberwarfare, it’s no secret corporations are increasingly worried about online threats. That provides a real opportunity for big data companies. 2018 is likely to see more providers developing and marketing products that harness data analytics as a tool to detect and even predict cyberthreats.
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