- Big data will continue increasing
According to experts, the amount of data generated will grow exponentially this decade. A report by Seagate forecasts that the global big data will be more than 175 zettabytes by the middle of the decade. This growth is occasioned by the increasing number of internet users and connected devices in businesses, homes, and social networking platforms. The number of embedded systems that create, gather, and share IoT data has also grown tremendously. This is expected to increase with time, meaning big data will also continue rising as we advance.
- Increased adoption of machine learning technologies
The rising adoption of machine learning, AI and data analytics results in an increased need for more data and analytics for sound decision-making. The integration of these technologies helps organizations in their effort to visualize and make even the most complex data visible, usable and accessible in decision-making. With massive big data and analytics, users can easily predict future conditions and manage business operations effectively.
- The COVID-19 outbreak
The coronavirus pandemic has increased the adoption of technology now more than ever. This rise has led to more data being generated as people implement the work-from-home paradigm. The pandemic is expected to continue impacting the big data industry like cloud computing and big data, and other associated technologies are adopted to reduce the spread of the virus. Epidemiologists use big data and analytics to fight the pandemic. Other organizations have implemented advanced analytics to see how the pandemic is influencing the economy and understand the nature of the virus.
- Adoption of big data analytics by end-user organizations
With more AI and big data technology adoption, the need to invest in big data initiatives is rising now more than ever. Therefore, it is critical for enterprises to implement this technology as they seek a way to gain a competitive edge. Since the organization ar going digital than ever, enterprises are adopting analytical solutions to make the data they gather count in their decision-making efforts. These solutions help organizations demonstrate information and better decision-making. Key big data players are launching new solutions to help businesses attain their needs.
Challenges to big data growth
Although big data continues growing exponentially, some challenging factors threaten the adoption of big data. One of the leading areas of concern is cybersecurity. Lately, there has been an increase in the number of attacks aimed at stealing critical information for personal gain or sabotage. Storing large datasets makes an organization a target for hackers. On the other hand, loss of data damages the reputation of organizations and leads to financial losses for any company.
Regulations are another obstacle that might hamper growth in big data. As many organizations embark on extensive data storage for their business decision-making, government agencies will come up with regulations to limit the use of data and restrict businesses from selling information for financial or any other gain.
Regardless of the challenges in big data, most experts agree that this area will be a valuable investment for many organizations. It will give rise to new jobs and entire departments in enterprises responsible for managing data. With this, many organizations will shift from generating data to using data from customers for actionable insights.