2021 has broken the all-time high amount of data generation per year – the amount is 74 zettabytes. Shocked? But it’s true. The information flows from 6.3 billion smartphones, 35 billion IoT devices, and many other gadgets. Big Data analytics trends started with this avalanche of new information.
Businesses got many benefits from Big Data analytics in 2021 by increasing sales, improving customer experience, supporting to make better decisions, competitive advantage and easier risk management.
New trends in Big Data Analytics:
Using both small and big data – The major trend of 2021 is the shift from big to small and wide data. The main difference is that small data allows businesses to analyze and have a better understanding of everyday problems. On the contrary, Big Data allows processing huge data to find correlations.
The omnipresence of AI – Smarter AI algorithms have future contributed to the interaction of Big Data and intelligent systems that makes one of the trends in Big Data. AI also make the concepts of Big Data more effective with better predictions. AI helps in quick addressing privacy issues.
Data as a Service (DaaS) – Another bigger market trend is the Data as a Service model. This is a relatively new business model of data distribution. It refers to the business practices when firms and users delegate the data collection, storage and management to providers. DaaS became popular since it addresses most of the challenges. One can collect actionable insights from all the raw data. Also, the DaaS market is competitive.
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