With the onset of the pandemic, data has become complex and has been generated in huge volume. 2020 is yet another year for more innovation and developments in the area of Big Data and Analytics.
For companies to survive in diverse environment, being agile to the changes in data trends, data analytics and AI applications are necessary. The trends that are widely recognized are listed below:
Datasilos and limited local IT infrastructures are eliminated by the concept of big data being widely available everywhere – ‘wide data’. There are almost 340 databases with various data types, available now which is almost twice the amount, 160 that was available 5 year back.
So, companies that use Big Data analytics to find meaningful insights will surely benefit in future with wide data trends.
Data Analytics Competence
The effective use of data is on its analysis to derive helpful insights. The raw data available must be analyzed and represented in an understandable form to the people, facilitating them to take data-driven decisions. This is a much-needed service nowadays.
So, it is wise for the companies to promote data knowledge of their employees.
DataOps & Self-Service Analytics
The environment around is dynamic and creates inconsistent data. This is proved true in the case of the COVID-19 pandemic, where data is scattered throughout the world. DataOps and Self-service analytic tool comes handy here that can be used in data management of businesses.
DataOps is an automated, process-oriented methodology, that can be used by analytic and data teams, to improve the quality and reduce the cycle time of data analytics in businesses.
Self-service analytics allows companies to manipulate data, without requiring them to have a background in statistics or technology.
Data as input alternatives
In the future, data solutions are not only dashboards and visualizations, but also as input technologies that could communicate with digital devices. IoT is the huge revolution backed up with data interconnecting devices.
Metadata is a data that provides information about other data. Metadata allows data to be found by relevant criteria, accumulate similar data together, differentiate data and give location information too. This data is used in mass surveillances.
This characteristic of metadata is found relevant these times of COVID-19.
Real-time Data Analytics
Livedata analytics streaming has gained momentum in online finance during these COVID-19 times. Petabytes (1015bytes of data) of live data is channeled through networks to communicate with countless devices. Researchers on natural disasters rely on Big Data using robotic process automation (RPA), AI and machine learning to provide reliable predictions.
Data Analytics and AI are the essential resources for companies to survive. Hence being agile with all the related trends will help businesses through troubled times.