Big Data Trends for 2020
Big data is an essential resource for businesses, and organizations now have the technology to analyze information in real-time and make improvements when necessary. Furthermore, the annual revenue from the big data market will reach a staggering 56 billion by 2020.
Big data is no longer a buzzword, and the benefits of embracing this technology among firms have ample amounts of documentation. The era of disruptive technology is changing the skills and tools available to employees. Companies now have access to new and innovative capabilities that will streamline their operations.
Demand for big data employees will rise
As more and more companies start to embrace big data and all the advantages it has to offer, the demand for employees specializing in this sector will increase. Recruiters will need people who have the expertise to know what to do with vast volumes of information.
However, the downside is that there’s still a shortage of talent competent in these areas. Companies that are looking to fill positions in these niches are taking longer than usual.
One way to overcome this problem is to be aware of the workforce needs of the organization. As a result, they will be able to make strategic investments, which will aid in big data employee development for the future.
Focus on data governance
As General Data Protection Regulation (GDPR) came into effect, governments all over the world are taking notice of the impact of its guidelines. Given the fact that businesses have access to large volumes of sensitive data, it has become crucial for them to comply with the law.
New rules are coming into place wherein the power is going back to customers. They have the right to determine what companies can do with their data. Organizations will have to make sure they follow these regulations to avoid facing hefty fines. In turn, this will help them gain the trust of consumers, which will positively impact their brand reputation.
Improvement in natural language processing
Big data will continue to enhance the interaction between humans and technologies. Armed with vast volumes of information, natural language processing will help smart devices immensely. They will be able to interact with all types of users, regardless of the language and style of speech.
This would bring down the reliance on code when it comes to communicating with humans. At the same time, they can ask systems to provide insights to overcome obstacles.
In 2020, big data will continue to experience immense growth as companies adapt and make the most of what this technology has to offer!