Digital Data Assets, The next step 2020 and beyond
It has been said that by within the new decade, every person in the world will be creating 7 MBs of data every second. We have already created more data in past couple of years than in the entire history of human kind. Big data has taken the world by storm and there are no signs of slowing down. You might be thinking, “Where would big data industry go from here?”
Machine Learning Will Be the Next Big Thing in Big Data
One of the hottest technology trends today is Blockchain and it will play a big part in the future of big data as well. Machine learning will be at the forefront of the big data revolution. It will help businesses in preparing data and conduct predictive analysis so that businesses can overcome future challenges easily.
Privacy Will Be the Biggest Challenge
Whether it is the internet of things or big data, the biggest challenge for emerging technologies has been security and privacy of data. The volume of data we are creating right now and the volume of data that will be created in the future will make privacy even more important as stakes will be much higher. Data security and privacy concerns will be the biggest hurdle for big data industry and if it fails to cope with it in an effective manner, we will see a long list of technology trends that became a fad very quickly.
Chief Data Officer: A New Position Will Emerge
You might be familiar with Chief Executive Officer (CEO), Chief Marketing Officer (CMO) and Chief Information Officer (CIO) but have you ever heard about Chief Data Officer (CDO)? If your answer is no, do not worry because you will soon come to know about it. We will see the emergence of chief data officer as the new position and businesses will appoint chief data officers. Although, the appointment of chief data officer solely depend on the type of business and its data needs but the wider adoption of big data technologies across enterprises, hiring a chief data officer will become the norm.
Data Scientists Will Be In High Demand
If you are still not quite sure about which career path to choose then, there is no better time to start your career in data sciences. As the volume of data grows and big data grows bigger, demand for data scientists, analysts and data management experts will shoot up. The gap between the demand for data professionals and the availability will widen. This will help data scientists and analysts draw higher salaries. What are you waiting for? Dive into the world of data sciences and have a brighter future.
Businesses Will adopt data Assets
We will see a 360-degree shift in business approach towards digital Data Assets . More and more businesses will look to accuracy of digital data. After digitizing their data, businesses can add their own data to it or purchase external data assets . It provides businesses with more customization options as compared to when they are buying software.
Investments in Big Data Technologies Will Skyrocket
Business spending on big data will surpass billions dollars this upcoming decade. Although, the business investments in big data might vary from industry to industry, the increase in big data spending will remain consistent overall. Manufacturing industry will spend the most on big data technology while health care, banking, and resource industries will be the fastest to adopt.
More Developers Will Join the Big Data Revolution
According to statistics there are six million developers currently working with big data and using advanced analytics. This makes up more than 33% of developers in the world. What’s even more amazing is that big data is just getting starting so will see a surge in a number of developer developing applications for big data in years to come. With the financial rewards in terms of higher salaries involved, developers will love to create applications that can play around with big data.
Big Data Will Help You Break Productivity Records
In an environment where enterprises and users are paying more attention to data sovereignty issues, the Era of Big Data will enter the Era of Data Sovereignty. To collect data in the era of data sovereignty will be a key strategic issue that enterprises will face in the future.
The decentralized data asset management architecture, also known as DDAM will be the foundation for large-scale commercial Blockchain data applications.
Decentralized Data Asset Management Architecture, DDAM is a flexible, secure and stable decentralized data asset management architecture that helps all data producing managers to realize the value of their data. Data assets are data resources that can generate value for the data owner. However, not all data constitutes as data asset. Only scientific and effective data asset management can help data owners generate data assets.
This article is written by one of of our valued community members : Kerwin
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