What is going to be ‘Big’ this 2014, in the IT world? Any guesses.
Well, Big data is one of the technological booms that hit the headlines in 2013. It dominated almost all the business and media discussions. The great variety, volume and velocity of data flowing within all the organizations irrespective of its size leaves us with this thought: Will 2014 be a year for Big Data in the IT fraternity?
Let’s jump right in to see the future of ‘Big Data in 2014’
Big Data is gaining traction with many organizations across the world. The advancement of this technology has provided us with smarter access to a large variety of data. Everything that we do today is on ‘the web’, which is why organizations has been able to capture new insights, making the data smarter.
Big Data in 2014 will pave the way for innovation! It will increasingly be a part of the core business models, enhancing an organization’s capability to compete globally. So, what is expected for the coming year, 2014? First of all, IDC (International Data Corporation) has stated that the market for Big Data will hit $16.1 billion this year, which means 6 times faster growth compared to overall IT market. This means to say that the market for Big Data technology and its related services will grow at a 27% compound annual growth rate (CAGR) to $32.4 billion through 2017.
Dan Vesset, Vice President for IDC Business Analytics and Big Data research says, “The Big Data technology and services market represents a fast-growing multi-billion dollar worldwide. The Big Data market is expanding rapidly as large IT companies and start-ups vie for customers and market shares.”
Big Investments in Big Data
Organizations from every industries are now willing to invest in Big Data Management, as they have realized the value of it. Popular management systems like Hadoop are already on a steep up rise and are in great demand by organizations of all sorts. There are definitely big prospects for Big Data.
More Data Analytics
Companies have realized that their future is in Data and are now willing to invest in Analytics for key business operations. Soon if not already, everyday aspect of business operations, machine processes and management systems will be infused with analytics.
Businesses to focus more on Data Security and Privacy: Organizations are planning to emphasize on privacy, security and governance aspects of Big Data processes this year.
More Big Data apps to come: More of the IF firms are working on design and creation of highly reliable Big Data apps. 2014 will see a whole new ecosystem of Big Data’s cognitive computing apps.
Data Scientists to be in high demand:
This New Year paves way to convergence of Big Data, Cloud Computing, Mobility, Social media and Internet. Therefore, Data Scientists and Data Managers with Math, technology and business skills with ability to unearth hidden values of unstructured data are going to be in huge demand.
Big Data Analytics Predictions for 2014 states that,” The sexiest job in 2013 was the Data Scientist generalist, in 2014 the demand for data analysis will rise as Data Analysts are closer to business issues, making them the go-to resource for data based decision making”
Hadoop to grow with Big Data:
Apache Hadoop, the open source framework for running data applications on large hardware clusters will continue to reign with Big Data. We will also see broader adoption of YARN as the next Hadoop generation.
Big Data to emerge into Media:
Through the year 2014, we will see Big Data steam into entertainment, advertising, marketing, education, music, community and practically every other aspect of the online culture. This trend is going to push Big Data to newer levels to scale along the ‘3Vs’ (Variety, Velocity and Volume of data.)
Well, 2014 is surely going to be very interesting, as we will see ‘Big Data’ as a common language in business discussions while organizations begin to experiment more along these lines!