Big data came and swept us. Each year we predicted how it’s going to further tantalize us and this contemplation has led us till here. Each year building on the previous knowledge. Each year data promising us something new.
Big data services have expanded its tentacles some more and what came as an alien is now the local citizen of the modern world.
Convergence of data management technologies: Data quality, governance, metadata management, analytics, and integration are the tools that are used for leveraging data. For meaningful extractable data for insights from companies and customer data, the demand for integrated and flexible tools will be increased for businesses. With flexibility and adaptability of integrated tools, users are allowed to prepare, analyze, and govern data with easy calculation of insights.
The rise of data governance: With data becoming important, what else becomes important? With data increasing every single moment, government regulations like GDPR (General Data Protection Regulation) become critical. A complete transparency help companies in the regulation of complex compliances.
The demand for chief data officer: Instead of hiring big data consulting services or any other big data services, appointing someone as Chief Data Officer (CDO) is a better alternative. Gartner predicts by the year 2019, 90% of big organizations around the world would appoint a CDO. The individual would be very helpful in navigating regulatory demands, managing enterprise-wide governance, leveraging data, and other such tasks. Corporations can easily manage unstructured data and use the power of analytics for the maximization of organizational information.
The importance of GDPR: Data governance offers the opportunities for monitoring compliances, approvals, usages, and accountability across different organizations. Whenever the data is about personal concepts, data has to be protected under GDPR.
Metadata management proliferation: Metadata is specifically ‘data about data’. For a clear understating about business definitions, lineage, and valid values-metadata management is there to help companies handle data governance, data management demands, and regulatory compliances. For protection of data, management is essential and legal compliances have to be understood. Big data companies have to figure out what all it entails and what all there will be till the dusk of 2020.
Data asset monetization: Many companies nowadays are leveraging the classification of metadata for physical, logical, and conceptual data sets in order of priority. A huge amount of data is generated every day and to classify it is becoming difficult. A numerical data is applied to businesses based on data classification. Monetization, in this way, becomes easy for corporations around the world. The reason data classification is utterly important.
Predictive Analytics for improvement of data quality: Machine learning will be used massively in order to wade through the colossal weight of data filling data centers. The data anomalies and quality differences have to be straightened out which otherwise go unnoticed.Ever the more reason to hire individuals offering big data consulting services.
Internet of Things: There are about 8.4 billion devices that are connected. All devices are generating data with potential insights into new businesses. Sensors and drones are becoming commonplace owing to a huge availability of big data consulting services. With the use of self-service tools, an exclusive business view is meaningful and called for. This calls for monetization of data sets as we are moving towards 2020.
The business landscape is changing with every passing day. From the time when it was a new beginning of big data and data analytics to the time where we are actually living data everyday- it’s hard to imagine corporations and organizations without proper arrangements for data in place.