Big Data & Analytics is being increasingly leveraged by startups, SMEs and large organizations to reduce costs, improve customer experience, optimize existing processes and achieve better-targeted marketing. In addition to these, many companies are showing interest in Big Data due to its ability to improve data security.
Big Data is a trending technology that is being adopted by some of the most prominent industries like Banking & Securities, Healthcare, Education, Communications, Insurance and even Government!
So, how is Big Data evolving with the likes of new technological innovations like Ai/ML, Blockchain, IoT in the fray? What are some of the most exciting Big Data Analytics Predictions and Trends for 2022? Read on to find out!
What is Big Data ?
As the name implies, Big Data refers to large volumes of data –both unstructured and structured that an organization/business is inundated on a daily basis.
However, it’s not the size of the data that matters but what the organizations do with the procured data. This big data, if effectively analyzed can help companies to extract actionable insights and make data-driven decisions that optimize business processes, improve existing strategies and drive growth!
5 Big Data Trends for 2022 That You Should Know About
1. The rise of predictive analytics
The practical result of Big Data and Business Intelligence is Predictive Analytics. Many organizations are effectively leveraging various features of Big Data analytics to predict potential future trends. That includes leveraging mountains of market, new customer, cloud, application, social media or product performance data to carryout predictive analytics.
Leading enterprises, SMEs and even startups are using predictive analytics to apply Ai/ML algorithms, carryout predictive marketing & data mining, eliminate bottlenecks and optimize internal processes.
According to a leading report, the global predictive analytics market is forecasted to reach a whopping USD 22 Billion by the end of 2026. Therefore, Predictive analytics is here to stay for 2021, 2022 and beyond!
2. Ai will continue to evolve but humans remain crucial
One of the leading technology research & advisory companies has stated that Scalable Ai that is more responsible and smarter will facilitate improved learning algorithms, shorter time to value and enhanced interpretable systems.
Leading organizations and startups will be needing a lot more from Ai and associated technologies. They also need to find a way to scale these solutions. But this is where many companies are hitting the roadblock.
So, while Artificial Intelligence will develop in the days to come, enterprises will still need to rely on humans as Ai is not up to the mark (cannot do everything like humans).