Tremendous growth in industries across the nation has increased the use of big data for multiple purposes. It is being utilized by both private and public sector. Some major industries where it is used include technology, media, healthcare, retail banking and real estate to name a few.
Big data is generally defined as enormous amount of unstructured, structured and semi-structured data which can be analyzed for generating useful insights.
Let’s go through some major trends associated with big data and its analytics which are gaining popularity:
- Security of big data
With multiple cases of security breaches related to big data, various companies are now dedicated to secure the data more efficiently. Technologies like attribute related encryption are gaining popularity for securing vital data in an organization. Also, training of staff on regular intervals to ensure data protection is also part of the trend.
- Deep learning
Relations between the data can be established effectively using deep learning. It is a type of machine learning that works on a set of algorithms. It helps in abstraction of big data and involves neural networking. The use of deep learning for big data analysis is quite promising.
- Monetization of data
Various companies are focusing on strategies to monetize the data. Companies can earn profit by getting revenues from their own data. Combining data from multiple resources can also no become an important strategy to monetize the data.
- Data agility
Various companies are now getting more attracted towards data agility. It is the property of extracting the information quickly from big heaps of data. Also, implementing this extracted data for improving the processes also comes under this technique.
- NoSQL databases
NoSQL databases are also gaining popularity for analysis of big data. Various features like cost effectiveness and ability to manage large scale data makes it more beneficial than relational databases. Also, they do not require predefined schema for inserting the data.
- Cloud technology
There is exponential growth in the use of cloud computing to process and store data. Some major cloud service providers include Microsoft Azure, Google Cloud Platform and Amazon Web Services to name a few. A company must choose the type of cloud which includes public cloud, hybrid cloud or private cloud while going for a cloud computing for big data.
- Accuracy of data
In present scenario, various firms are realizing the importance of data accuracy. More accurate data helps in detailed segmentation at the consumer level which ultimately helps in making more wise decisions.
The dimension of big data is constantly expanding and various technologies related to it will keep on increasing to help the organizations generate maximum benefit out of it.