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).
3. Increased adoption of Business Intelligence in industries
Recent market studies have stated that various organizations in industries like consumer services, technology, manufacturing industries & business services will be increasing their planned adoption of Big Data and Business Intelligence technologies/tools in 2022. This is a Big Data Analytics Predictions that will most likely happen in the next year and beyond.
4. The necessity of cloud-based analytics solutions
The onslaught of the COVID-19 pandemic has pushed enterprises and SMEs to go remote instead of depending on traditional systems. This is where cloud-based technologies, tools and solutions came into the picture. Not only did these technologies facilitate remote work but also helped cut down costs associated with traditional technologies and bottlenecks.
But now, since the cloud has become mainstream, more and more companies will seek cloud-native analytics solutions to streamline Business Intelligence. This will help organizations to gain a competitive edge over others through flexible and efficient BI & analytics.
5. Increased BI budget by various organizations in 2022
According to a leading study, various organizations from industries like Financial Services, Retail and Technology will be increasing their Big Data/BI budget by a whopping 50%!
Around 63% of companies in the world are already stating that Big Data & Analytics will improve efficiency whereas 57% are saying that it will help make effective decisions.
These are a few exciting Big Data Analytics Predictions and Trends for 2022 that will take the technology world by storm. ARSR is a trusted Software Development Company in San Francisco that holds expertise in Big Data and offers various Big Data services like Big Data on Cloud, Big Data Strategy, Big Data on AWS and Big Data Labs.