10 Big Data Trends Driving the Future of Business




Usefulness of Big Data: The ultimate goal of big data is to have the biggest impact where it is used. It cannot just be an idea or a skunkwork research that shows the use of Big Data but instead where it will impact in the business. Not all areas of business will thrive in the same way thus this has to be tested for results. According to Bodkin, it will be a lot faster with executive sponsorship. This will bring integration among companies in a circular model.

Source of revenue: According to Big Data analysts, this not just a source to help make income but this is a source of revenue. Google and LinkedIn have made their mark entirely with using Big Data as a platform to derive revenue. Many companies have also started to operate on their data and to let the data be given to customers with a fee. Each company has an overview of their customers and this information that happens in their backyard is need by other companies and thus becomes a source of revenue. General Electronics is growing at a fast pace in this domain of allowing Big Data be a source of income.

Increase in machine learning: It is expected that in 2014 more companies will adopt the use of machine learning technologies that is the combination of mathematical algorithms and automation. A machine can do as much as the algorithm lets in detecting information or data, but a human can sort out that data from any inconsistencies in a way that a machine cannot. Data will have to be prepared and cleaned out and only a human who understands the machine learning process in detail can do that. This machine learning will not be a nice-to-have but a must have thing.