Data is valuable, it is rightly said that data is oil. Data analytics is the science of analyzing raw data to make conclusions about the information. Many of the techniques and processes have been automated into mechanical process and algorithms that work over raw data for use.
Data analytics is one of the most powerful tool. There are constant changes in the field of big data and analytics, also new technologies are emerging all the time. Keeping up with the latest trends, here are big data analytics trends for the year 2022
Predictive Analytics: It is a way to predict future events based on past behavior. The global predictive analytical market is set to reach 28.1 billion dollar by the year 2026. Many companies already use this analytics for applying machine learning/ artificial intelligence. With the rising internet proliferation, use of cloud technologies, and connected systems will compel businesses to invest in predictive analytics.
Blockchain And Data Security: Blockchains are an integral part of to ensure secure transaction with minimum effort. With the rise in popularity of online traction, many ecommerce businesses have started using blockchain, and also has found applications in other domains like healthcare and security. It allows users to store encrypted data on a secure, decentralized network. Blockchain is a good solution as the volume of data is increasing immensely, thus creating a potential threat to its security. Blockchain is considered tamper proof and hacker proof.
Artificial Intelligence: A Garter report predicts, that nearly sixty percent of artificial intelligence will be embedded in 2022 for big data and analytics solution. The use of AI will help organizations analyze large data sets more effectively and uncover pattern and insights. AI will help organizations improve their performance by increasing their efficiency and profitability while reducing costs involved. AI allows computers to perform tasks that usually requires human intelligence.
Growing Cloud-Based Solutions: Due to the onslaught of pandemic, almost all enterprises, small and medium prefer remote and hybrid work environment. More cloud-based technologies are adapting to this shift, and helping companies save costs with tools and bottlenecks. Cloud-based technology will become mainstream in 2022. Many companies will prefer cloud-based native analytics solution to gain a competitive edge and business intelligence.
Growing Business Intelligence Budget: Business intelligence software is evolving to meet modern enterprise needs. These software’s offer several advantages in comparison to traditional on premises deployment. With predictions by experts, many businesses will increase their business intelligence budget by fifty percent.
Data Universe: Organizations are dealing with elephantine amount of data today which has given rise to data universe. Data universe compromises data management architecture data fabric, lakehouse, and mesh. These touchstones show how industries are finding quick and agile ways to convert the growing volumes of data into insights and actions. With a central repository of structured and unstructured data, businesses can harness more data, from more touchpoints, in relatively lesser time while fostering collaboration among teams.
The above mentioned trends are few of the most promising technology of 2022, that will change the big data and analytical scenario in the years to come. Businesses need to adapt themselves as per the requirement of the market to maintain a competitive edge over their competitors.
