The year 2020 brought unprecedented changes across the global landscape, and Big Data was no exception. As businesses struggle to adapt to a new way of work, they are turning to data technologies to remain competitive.
Forbes has revealed a list of top Big Data trends that businesses need to watch out for in 2021. These trends will not only keep businesses afloat but also increase their profitability in the long term.
1. Cloud Computing and Big Data
This trend has been picking up steam for several years, but 2021 will see a crucial transition as most companies move their data storage to the cloud. Cloud computing will increase collaboration capability, scalability, and partially reduce on-premise hardware costs.
2. Edge Computing and IoT Devices
With an increase in the number of IoT devices, Edge Computing is inevitable. It is essential to process data as close to the edge device as possible without latency. Edge computing processes Internet of Things (IoT) data in real-time, providing businesses with more immediate insights, improving operations, and reducing maintenance costs.
3. Artificial Intelligence and Machine Learning
AI and machine learning have been the buzzwords for some time now, and the trend will continue into 2021. Machine learning is a subset of AI that allows computers to identify patterns in large sets of data. The resulting insights help businesses to make the right decisions. AI and ML will be vital for organizations to cut costs, optimize business processes, and improve customer satisfaction.
4. Data Democratization
Data democratization makes data accessible to everyone in the organization, enabling better decision-making. It helps organizations to extract relevant data without the dependence on IT support. Common examples of data democratization are self-service BI tools, dashboards, and portals.
5. Augmented Analytics
With augmented analytics, you can extend Machine Learning (ML) and Artificial Intelligence (AI) to data preparation, discovery, and data sharing. By leveraging augmented analytics, businesses can easily visualize, summarize, analyze, and share insights with much less manual work than with traditional analytics tasks.
These Big Data trends are crucial for businesses to stay relevant and competitive in 2021. With the right integration of these technologies, companies can easily extract meaningful insights from their data, improve their decision-making and provide better customer experiences.
As new technologies are adopted, industries should also work to develop ethical safeguards for their data usage, as well as for the AI systems that rely on Big Data. These considerations will be crucial to building AI and machine learning models that are not only beneficial but also safe for business operations.
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