Is Big Data Dying?
Undoubtedly the answer is a big ‘NO’. Considering the positive changes brought by Big Data, we can say that “Big Data” is here to stay for the long run.
Data has always been an essential part of the modern economy. Industries and companies use data to come up with crucial business decisions and strategies. Nowadays, the amount of data generated in a day has immensely multiplied over the decades.
Our activities on social media, data from a search engine, GPS systems, virtual assistants, smart televisions, e-commerce websites all are collecting data from us, thus making Big Data an inevitable part of the future. Big Data is continuously evolving at a high pace and is making its way to becoming the brain of the future.
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Big Data Facts???
- “ As of now, there are around 6 billion devices connected to the internet, generating close to 2.5 million terabytes of valuable data every day.”
- “Boeing Aircrafts generates as much as 40 Tb of data for every hour of its flight. And that is further processed, analyzed, and interpreted for various processes.”
- Walmart handles more than 1 million customer transactions every hour, which is imported into databases estimated to contain more than 2.5 petabytes of data.
- According to a study, 100 terabytes of data is uploaded daily on Facebook.
- The Obama administration is investing $200 million in Big Data research projects.
Big Data Driving the Technological Evolution
Today most of the IT industries are moving towards artificial intelligence, automation, and robotics. Thus, proving Big data as a critical factor for driving the entire evolution. Big data plays a vital role in helping businesses with staffing, supply chain management, R&D, consumer behavior, and more.
With the progress in computing and data analytic tools, we are getting more ways of gaining insights into valuable data. Big data allowed the human perspective to be involved with the technology in the best way possible.
Big data allows the advancement of the technology that empowers customers. As a result, now customers have more access to information. They also have more choices and demands. And when it comes to buying, customers have unprecedented access to information about companies and the product they sell.
Thus, Big data undoubtedly plays a vital role in gaining insight into the behavior of these empowered customers.
Big Data Analytics – The Best Career Move
Tremendous Job Opportunities & Meeting the Skill Gap
According to Srikanth Velamakanni, the Bangalore-based cofounder and CEO of CA headquartered Fractal Analytics states: “ In the next few years, the size of the analytics market will evolve to at least one-third of the global IT market from the current one-tenths. ”
Nowadays, there is a huge demand for Data Analytics skills globally. Organizations are looking forward to exploring the power of Big Data. There is an increased number of organizations implementing Analytics and thereby looking for Analytics professionals. The majority of the organizations are in the process of implementing Big data or actively planning to add this feature within the next four years. Strong demand for Big data skills is boosting the wages for qualified professionals.
“ According to a study by QuinStreet Inc, the trend of implementing Big Data Analytics is zooming and is considered to be a high priority among U.S. businesses. ”
Big Data – Highest Paying Jobs
The demand for Data Scientists is high, and therefore, organizations are paying a good amount of salary to those professionals. Big data salary for freshers ranges between Rs. 4 to 10 lacs per annum, and for experienced ones, it ranges between Rs. 10 to 30 lacs per annum.
“The U.S. Bureau of Labor Statistics ( BLS) anticipates that data-related occupations will grow by 12 percent by 2028, thus creating over 546,200 new jobs in the same time period”.
According to a study, it was found that approximately :
- 45% of the surveyed believe that Big Data analytics will enable much more precise business insights.
- 38% are looking to use Analytics to recognize sales and market opportunities.
- More than 60% of the respondents depend on Big Data Analytics to boost the organization’s social media marketing abilities.
- According to a research-based survey by QuinStreet, “ 77% of the respondents consider Big Data Analytics a top priority.
Most of the respondents are currently using some form of advanced analytics on Big Data, Predictive Analytics, Business Intelligence, and Data Mining tasks. Most of the respondents of the Peer Research – Big Data Analytics survey reported that they already have a strategy set up for dealing and processing with Big Data Analytics. And those who do not have any strategy yet are also in the process of planning for using it efficiently.
Technology professionals with Analytics skills are in high demand as businesses are looking after them to harness the power of Big Data. A professional with analytics skills can master Big data and can be proven as a valuable asset to an organization.
Big data will continue to enhance, evolve, and will provide new dimensions to the technology. Thus the Big data will stay in the technological world for the long run.