4 Trends Governing The Future Of Big Data
Big data was once the province of only the largest businesses and corporations with the infrastructure in place to extract useable intelligence from masses of available information. With an estimated 21 billion connected devicespoised to generate an overwhelming mountain of data by 2020, the landscape of big data is changing. Here are four insights into big data trends of the future.
1. More accurate targeted data available for purchase
The majority of industry insiders believe that privacy is already an ancient relic of a distant past. Whether it is already or it isn't, there is little doubt that it soon will be. With smart products ranging from toothbrushes to dishwashers all busily sending on information about every moment of our lives, there is little information about our lives that can't be soon bought for a fee.
2. Data analysis will soon become unskilled labor
At the moment, it still generally takes highly trained data analysts to make sense of the insights generated by the most advanced artificial intelligence. Advances in AI, however, will make these insights much more user-friendly and actionable by even unskilled analysts. The more highly skilled analysis jobs will migrate to the front end, where they will take over the advancement of AI. Their current positions will begin migrating down to a lesser skilled labor force.
3. A new C-Suite executive position
As data becomes a larger force in corporate competition, a new position is poised to emerge to lead the challenge. The Cheif Data Office (CDO) will act as something of an intermediary between the Chief Technology Officer (CTO) and the Chief Executive Officer (CEO). In other words, the CTO will be responsible for overseeing all aspects of the systems that gather, process and sort data, which is where the teams under the CDO will pick up. Those teams will be responsible for turning raw data into actionable intelligence, which can then be used by the CEO to create strategy that will chart the course of the company.
4. Demand for data scientists will increase
As data analysis requires less skilled labor, demand for the data scientists that program the analytical algorithms in the first place will rise. In the not-too-distant future, businesses will no longer buy software but rather the algorithms that program the software. With those algorithms, they can quickly and easily design their own proprietary software.