It may seem premature to already start discussing next year’s big data scene, but the fact of the matter is that big data’s future implications transcend any kind of limiting time intervals — its growth and continued rise in prominence have become constant focal points within the modern technological landscape.
With just under four months left in 2017, here are a few immediate predictions for big data during 2018.
Big data analytics, an already rapidly growing market, is predicted to see even more growth in 2018 and beyond. In fact, the market is currently predicted to surpass $203 billion by 2020. Furthermore, as 2017 nears its conclusion, data emphasis has grown with a similar rate of demand. Revenue growth from information-based products is expected “to double the rest of the product/service portfolio for one third of Fortune 500 companies.” Paired with the growing amount of data being produced by the world on an annual basis, these trends mark a seemingly unstoppable ascent.
Like big data, the cloud has continued to rise in prominence during the 2010s. Now, many companies are finding ways to implement cloud features in pursuit of better analytics management and quick, efficient turnover. Expect the cloud to become an even bigger part of the big data picture in 2018, as competition between cloud vendors and traditional analytics providers increases. Some new cloud pricing models are predicted to “drive up to 5 times higher growth in spending on cloud versus on-premises analytics solutions.”
Fast speeds have become an expected part of modern technology, from basic wifi connections to, yes, big data analytics. As the world slowly enters the preliminary stages of 5g networks and higher-speed marketing, analytics management will also need to conform to a faster, yet efficient model. Therefore, technological executives will need to build more real-time analytic pipelines to simultaneously handle analysis and subsequent action.
Finally, the Internet of Things (IoT) is arguably the biggest potential asset to big data analytics in 2018, and in the general future. Many organizations will be in a position to completely revamp their data management as a result of IoT sophistication, finding new ways to identify, interpret, and respond to data in real-time via interconnectivity. Additionally, more simultaneously connected devices signal positive implications for cloud-based big data’s overall security (and vice versa), as this symbiotic relationship can foster stronger connectivity, reliability, computing power, and other key components of a thriving infrastructure.