The rise of big data has a revolutionary impact on the economy as the technologies change and digitalisation became a new trend. The main driver of the increasing role of data and data analytics is the growing complexity of information that companies gather and process. All information that the businesses have comprise the big data that is actively used to extract more knowledge about the markets. consumers and consumer behaviour. Furthermore, the big data and data analytics are new and growing trends. The data analytics continues to evolve and it is expected that in 2021 there will be new technologies and ways the firms refine and process the data. This article discusses new trends in data analytics and the future of the industry.
1. Big Data and Data Analytics
The first step is to define the big data and data analytics considering key areas and applications of the concept. The big data includes a vast array of information that can be numerical or graphical, which many corporations and organisation use to achieve different objectives. The use of big data varies according to the objectives. Data analytics is the process of analysing and processing the big data to achieve specific objectives such as consumer behaviour, organisational processes and the market data.
2. The increasing speed of actionable data
The actionable data is the new trend in 2021 and it is expected to improve data processing. The actionable data quickens data processing, which is positive for data analytics. This means that the data can be processed immediately because of more actionability. Hence, the trend is likely to improve quality of data analytics and provide more rewards to users of the big data.
3. Synchronisation between IoT and big data
The Internet of Things or IoT and digitalisation are two innovations that change the data analytics. In 2021 it is expected that even more organisation will begin to adopt the technologies. Furthermore, the IoT and the digital technologies are getting more synchronised, which leads to better results for organisation that process the big data. In addition, the IoT helps more effectively gather the data from connected devices to further enhance dynamics in data analytics. Therefore, this synchronisation allows users to more consistently analyse the big data.
4. Data analytics is about to enter the board corporate level
Data analytics and the big data are relatively new concepts that have great prospects in the future. However, the data analytics has a strong impact on the corporate governance and spurs the increasing interest in data management as evidenced by the rise of data professionals and the Chief Data Officer (CDO) among established companies. This is the new trend that is likely to accelerate in 2021 as more firms will invest in data analytics require new professionals who will be responsible for managing the data. Therefore, the role of CDOs is expected to rise as the businesses rely more on the big data and data analytics.
5. Machine Learning (ML) will be in focus in 2021
ML is one of the key innovations that are associated with the big data and analytics. It is likely that companies will continue to invest heavily in ML products to realise more gains from improved data analytics. In addition, the new trend is the automation of ML, which helps create more knowledge and improve data analytics. This will increase productivity and enhance data analytics.
6. Metadata to become quicker
Next year the metadata or the sets of information that contain the relate data will become smarter and quicker. This will enable analysts to more effectively gather and sort the data, which will lead to more quality of data analytics. Furthermore, this trend combined with the AI and machine learning will be a new trend in data analytics that is likely to be longstanding. Therefore, this is one of the key big data trends to expect in 2021.
7. The rise of quantum computing
Analysing myriad of complex data is a time-consuming process. Improved processing of data will significantly improve data management. This is where the quantum computing comes. The new technology allows for better a management that increases overall productivity. The trend will be applicable to many large corporations that rely on a vast amount of data. In addition, quantum computing applied to data analytics will help improve complex research.
8. Growth in application of Natural Language Processing (NLP)
The more applicability of voice recording processes and applications is likely to grow in the foreseeable future. Moreover, this will be accompanied with increasing use of the NLP, which means that the language will be processed more accurately and effectively. This creates new opportunities for many businesses and technological solutions. Therefore, NLP systems will be more effective and productive to help receive the data in a more effective way.
9. Cloud management will improve data analytics
It is already clear that the data volume will continue to rise exponentially in the future. This creates problems with data storage and management. The cloud systems allow users to store safely and effectively large amount of data through the cloud computing technology. The data analytics is likely to evolve in this direction as more companies shift to cloud computing.
10. Growing use of new technologies
There are several data analytics technologies that reshape the industry and Hadoop is one of the most important applications. Hadoop is the new technology that allows for accumulate information from different sources. In addition, this application helps manage information by running processor-concentrated AI. In addition, platfora and Hive are additional tech trends in data analytics that will shine in 2021. Platfora improves testing and data management. Hive helps more gather data and enhance quality of data analytics.
Data analytics is already used by many corporations. Most of the companies are from technological sector and financial. However, the technology is likely to progress further and it is reasonable to expect that next more sectors and businesses will invest in data analytics and adoption of key technologies.