We can have all the data in the world, but if we don’t know how to use it for our business, there is no point in having all the raw data and anticipate that something good will happen. Bigdata Analytics helps to gain valuable insights to give us the opportunity to make business decisions more viable. In a way, Bigdata analytics is the junction of business operations.
It is the vantage point where we can watch the streams and note the patterns. Bigdata analysis plays a central role in modern information society. Some of the trends that can be seen in Bigdata Analytics and Business Intelligence are as follows
Analytics of things
Analytics of things is the next trend after the popularity of the Internet of things (IoT). Internet of things (IoT) creates a massive measure of information which Analytics of things (AoT) analyses to settle on a choice pertinent to business. There is no doubt that analytics can make connected devices smarter and perform smart activities. Analytics of IoT devices makes them more efficient. However, IoT itself is developing and AoT is at the beginning stage. One of the major difficulties facing AoT is the data storage problem of real-time data generated by the Internet of Things. The data generated by each sensor is quite large, and it is a difficult task to monitor such a large amount of data.
Data security and privacy
Whether it is the internet of things or big data, the greatest test for developing technologies has been security and privacy of data. The volume of data that is being created at the present time and the volume of data that will be created in the future will make privacy even more important as stakes will be much higher.
One of the technologies that organizations are exploring in an attempt to speed their big data processing is in-memory technology. In a conventional database, the information is storage systems equipped with hard drives or solid state drives. In-memory technology stores the information in RAM rather, which is comparatively quick.
Industry experts believe that the future of tech belongs to the company that builds the first quantum computer. No surprise that every tech giants are racing for the top spot in quantum computing. Quantum computing allows seamless encryption of data, weather prediction, solutions to long-standing medical problems and more. Quantum computing enables real conversations between customers and organizations. There’s also the promise of revamped financial modeling that helps organizations develop quantum computing components along with applications and algorithms. The role of big data analytics will become even more prominent.
Evolution of Self-service BI
Self-service BI tools work well for many organizations. New data sets can be explored without much IT support, which benefits business experts a lot. Visual data discovery tools have turned out to be exchangeable with self-service BI and are getting well known to a great extent. With visual data discovery, you can gain surprising data insights, thereby reducing errors when making business decisions. BI as a service provides a solution to its users for 3 critical functionalities: extracting and desegregating data from huge databases, organizing it into a high-performance data warehouse, and giving business users the capability of accessing and processing this data via purpose-built interfaces