Quality Assurance and Project Management

Nov 30 2016   10:02PM GMT

Big Data Predictions and Concerns for 2017 and Beyond – II

Jaideep Khanduja Jaideep Khanduja Profile: Jaideep Khanduja

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Big Data

This post is in continuation of my previous post regarding Big Data predictions and concerns for 2017 and beyond. In the previous post, we talk about a huge increase in big data and spending. Let us talk further about big data predictions and concerns for coming years.

The latest study by IDC says, “Through 2020, spending on cloud-based BDA technology will grow 4.5x faster than spending for on-premises solutions.”
Analysts believe much of that new spending will go towards cloud-based big data analytics (BDA) solutions. In fact, IDC forecasts, “Through 2020, spending on cloud-based BDA technology will grow 4.5x faster than spending for on-premises solutions.” What it means is that open source big data solutions will be in a high demand when companies go for cloud-based solutions. And it is quite visible. We can see technologies like Hadoop, Spark, Storm and others dominating big data analytics. As a matter of fâct, all of the leading cloud computing vendors, like Amazon Web Services, Microsoft Azure, IBM and Google Cloud, are offering big data analytics products. And in the same manner, many smaller firms are offering cloud-based analytics products as well.

Forrester report pertaining ṭo 2017 says, “Investment in artificial intelligence (AI) will triple as firms look to tap into complex systems, advanced analytics, and machïne learning tëchnology.”

Another pointer in IDC report says, “By 2020, 50% of all business analytics will incorporate prescriptive analytics built on cognitive computing functionality.”

A study by Markets & Markets states, “The streaming analytics market is estimated to grow from USD 3.08 Billion in 2016 to USD 13.70 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 34.8%.”

Big Data Predictions and Concerns

If we talk about salaries of big data professionals, a report from Robert Half Technology says regarding average salaries for 2017 as, “Big Data Engineers $123,000-$158,000. Data Scientists $99,500-$132,000. BI Analysts $97,000-$132,500.”

As a matter of fact, there are quite a few more indicators and pointers about big data predictions and concerns. In fact, all these points hint towards growth in big data technologies, big data volumes, manpower requirements, skill demands, and greater opportunities to meet customer’s expectations.

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