According to the World Economic Forum, it is predicted by 2020 that the amount of data we produce will reach a staggering 44 zettabytes. Data is ever-expanding, and it needs to be handled & gathered in the best possible way.
To date, we have seen big data analytics making the massive shift in the way business is being done but it can be exciting to see what technology has in store in 2020. Let’s find out the top data analytics trends in the upcoming year.
Why do companies need Big Data Analytics?
Analytics is the core. Tons of data produced regularly will remain unused without analytics! Acting on the derived insights from the analyzed data can lift your business to the next level.
Companies are analyzing a huge amount of data for letting their business stay higher on profits. With the help of analytics, companies are able to analyze data patterns, carrying out scientific analysis and using technological tools in order to do their job efficiently.
Analytics is a game-changer when it comes to keeping track and decreasing the costs involved. Identifying efficient ways of pursuing business and bringing out significant cost advantages for store tons of data.
Big data analytics is a multitasker, it eases the workload, increases productivity and therefore gets the business process go smooth & quick. It can further predict customer behavior more accurately and help in making correct business decisions.
Letting the customer have exactly what they require can be the best possible option to widen the customer base. With the help of analytics, a business can track customer’s preferences, needs and provide them what they require to have.
What’s in store for Big Data in 2020?
Automation has been taking its space in almost every industry, being highly favored and accepted, it’s widely used to enhance business potentials. Assisting business leaders to manage work efficiently and further predict the right course of action propelling their organizations with accurate analytics-driven decisions. With the emerging trends, 40 percent of work can get automated by next year.
The year 2020 predicts approximately 20 billion active IoT devices which will be potential to collect more data for analysis. While the biggies which already implemented IoT for the bigger operations are now forecasting beyond it and implementing the technology to run more accurate data analytics. We’re likely to witness innovative analytics solutions for IoT devices, providing relevant data along with complete transparency.
Memory computing is quite a noise when it comes to reduction in cost of memory. A technology developed by SAP, helping in compressing and storing the data in random access memory which does run 10,000 times faster in comparison to the standard disks. IMC has led to reduction in cost and complexity. This lets a wide-scale implementation of a solution that is manageable and improving application performance while providing opportunity for future scalability.
Augmented analytics is dominating through its merger of AI & ML techniques unlocking new gateways of creating, developing, sharing and consuming analytics. While augmented analytics is popular enough through its usability in improving data management performance and providing clear & precise results for making smart business decisions.
90 percent of large organizations will be generating some kind of revenue from DaaS. It’s a cloud-based technology enabling customers to access digital files through internet. While DaaS aims at letting the customers reach wider area without any possible geographical barriers bridging gaps between departments with larger organizations requiring data sharing but can’t get through. With the help of DaaS, sharing data in real-time can be quicker and easier, improving productivity within the organization.
Voice commands are trending and users currently urge to get their answers through quick voice recognition. The futuristic trends for 2020 say that up to 50 percent of analytical queries will either be automatically generated or generated using voice or NLP technology. The development will further allow the people in a company to analyze data combinations with the help of a widely adopted user-friendly analytics platform.
The enterprise content management market is expected to hit $59.87 billion by this year. The disruptive technologies are rushing over the human mind, letting us all rely on the machines more than ever. 95 percent of content developed is reviewed by machines is likely to never be viewed by humans rather the machine verified content is provided with detailed analysis supporting the organization’s digital initiatives. An organization can leverage such analyses to enhance productivity and bring on new opportunities in mobile, social and cloud technologies.
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