Seven Critical Predictions for Big Data in 2020
Automation of Data Analysis, Data as a Service, Data Governance, Conversational Analytics, NLP, and
Big Data Analytics is transforming organizations and industries at an alarming rate. This type of technology has recently made a considerable shift, as businesses adopt it to enhance the way they analyze data.
Enterprises across the globe are positively embracing the strength of data analytics, as we see the remarkable changes in the branding and recruitment decision making landscape.
In the last twelve months, we’ve seen big data analytics make huge changes in the way business is being conducted across the globe.
However, it’s exciting to think about what this technology holds for companies over the coming year.
This piece will look at seven of the top trends in data analytics and predictions to look out for in 2020.
IoT Merging with Data Analytics
This year, we can expect to have 20 billion IoT devices collecting data for analysis. In large tech corporations, where IoT devices are already implemented in their operations, business leaders are now synergizing assistive technology to run more intelligent data analytics.
This means we will likely acknowledge more analytical solutions for IoT devices, helping to provide transparency and more relevant data. Additionally, 75% of companies may suffer when trying out the matured benefits of IoT due to lack of expertise by way of data science professionals.
Additionally, around 75 percent of companies might suffer while accomplishing matured benefits of IoT due to a lack of data science professionals.
Automation of Data Analysis
Recently many industries have used data-automation to enhance their potential, increase their marketing efforts, and improve their ROI. Perhaps it’s no surprise that a recent Gartner report predicts that 40% of data science tasks will be fully automated by 2020. This automation will help business leaders to efficiently plan ahead and use the appropriate analytics to make favorable business decisions.
Next year, in-memory computing is going to become increasingly popular due to the decreasing cost of memory technology. IMC helps businesses with NLP and cognitive computing, geospatial processing, real-time machine learning, streaming of sensor data, real-time sentiment analysis, and much more.
As the implementation of IMC solutions becomes more global, many industries will be able to improve the performance of their current applications, while creating opportunities for future scalability.
In 2020, up to 90% of the world’s largest enterprises are expected to generate income from data-as-a-service (DaaS). This technology enables all subscribers to access and use digital files online.
Most modern businesses have already embraced data for decision-making purposes. However, only a few savvy companies have invested in the resources to leverage the power that collected data holds.
In the past, working with masses of data was very challenging, with an extensive amount of computing resources required for storage and processing. Now, thanks to DaaS technology, these storage resources are cloud-based, less resource-intensive, and affordable to many more businesses. Ultimately, DaaS will help many companies increase their productivity.
A huge predictive trend for 2020 is the increased usage of augmented analytics. This process combines AI and ML protocols to change the way analytical data is shared, generated, and processed.
By using sophisticated algorithms, augmented analytics can automate insights generation. This will help businesses to become more independent and less reliant on data scientists and analysts.
The defense, aerospace, and transportation industries will make great use of augmented analytics as it will offer critical insights from customer data, currently unattainable without substantial investments in time and money.
In recent months, GDPR compliance has brought order to the way data is handled across the world, compelling organizations and businesses to make data governance a priority. As the regulation was passed so quickly in May of last year, many companies are still yet to fully comply.
However, on January 1st, 2020, the California Consumer Privacy Act was unveiled as a significant internet-related law.
In combination with the GDPR, this policy will force businesses to comply with data security, data handling, and consumer profiling. This act will not only focus on business operations and compliance as a whole.
Conversational Analytics and NLP
Trends for 2020 are predicting that up to 50% of analytical queries will be generated automatically via voice technology or with the use of NLP tech. This development will allow any employee in a company the opportunity to analyze complex data combinations by using user-friendly, widely adopted analytics platforms.
It’s looking like 2020 will be a huge year for the evolution of data and analytics platforms. I predict that the technology providers of these cutting-edge solutions will leverage change based on the current economic forecasts.