Top 10 Predictions for Data and Analytics for 2020 and Beyond
Data and analytics is all set to become more objective oriented, and this will hold true for industries across domains. If we go by the predictions made by authoritative bodies from the world of data science, we can envision a near future that will witness rapid advancements in AI and NLP to offer us possibilities in data analytics that we can only dream of today. Here are the top 10 predictions for the year 2020 and beyond.
1] Through 2020, lack of data science professionals will inhibit 75% of organizations from achieving the full potential of IoT. (100 Data and Analytics Predictions Through 2021)
Internet of Things (IoT) is a fast emerging as a key concept today and will play an even important role in the digitalization of the future. Enterprises of tomorrow will be more than willing to spend on IoT because of all that it promises. However, since IoT is still a relatively new concept, experts predict that while enterprises will take up to IoT by leaps and bounds, it will be quite some time before we have people who are truly masters of its implementation.
2] By 2020, over 50% of consumer mobile interactions will be in contextualized, "hyperpersonal" experiences based on past behavior and current, real-time behavior. (Customer Experience 2020)
Artificial Intelligence (AI) is advancing by leaps and bounds, and what in the near future, the usage of mobile devices and apps will be more “personalized” than they are today. The apps are already designed to track user behavior and search patterns to accomplish this, and this is all set to move to the next level, with real time data shaping user experience.
3] By 2020, 90% of large enterprises will be generating revenue from data-as-a-service. (IDC FutureScape: Worldwide IT Industry 2018 Predictions)
Enterprise data has already emerged as the biggest source of insights for enterprises to draw insights for strategic decision making, and more. In 2020 and beyond, data will emerge as the biggest source of revenue for a large number of enterprises. In other words, the future is all about the power of data.
4] By 2025, IDC predicts that the total amount of digital data created worldwide will rise to 163 zettabytes, ballooned by the growing number of devices and sensors. (IDC Data Age 2025)
Data is growing by leaps and bounds and this has no signs of slowing down anytime in the future. And this enormous growth will be fed by the rise in the number of devices and sensors across the globe.
5] By 2021, 33% of organizations will expect natural language query and natural language generation as standard capabilities of business intelligence systems being considered. (Ventana Research Assertions)
Today, we have natural language processing (NLP) powering the most advanced enterprise search tools and 3RDi Search is an example. However, NLP Is all set to witness a tremendous boom, so much so that NLP will become a norm for all business intelligence systems. In other words, there will be no analysis of business data without the use of NLP.
6] By 2020, revenue growth from information-based products and services will be twice the growth rate of the balance of the product/service portfolio in over half of Global 2000 firms. (IDC FutureScape: Worldwide Digital Transformation 2018 Predictions)
Data is all set to rule the world of enterprises, as predicted by IDC. In fact, by the year 2020, data and data-based products and services will emerge as the biggest source of revenue for enterprises, even twice the revenue generated by all their types of products and services put together.
7] By 2025, more than a quarter of all data created will be real-time. (IDC Data Age 2025)
The future is all about real time collection and use of data, and that’s what this prediction by IDC indicates. We’re moving towards an age where it is all about instant information that is personalized and tailor made for us.
8] By 2019, 30% of organizations will use object storage as a data repository on-premises, bringing cloud architecture to the data center. (Research by CIO)
CIO predicts that there will be a growing trend of data virtualization and the separation of the storage and computation of data. There will be focus on managing data in more than one models of deployment, and all these steps will be towards digital transformation.
9] By 2020, 95% of video/image content will never be viewed by humans; instead, it will be vetted by machines that provide some degree of automated analysis. (Gartner Predictions for IT Organizations)
Now, that is what we call advanced AI technology at work! As AI acquires advanced capabilities, there will be minimum need for human intervention, as most of the tasks will be taken care of by the intelligent machines.
10] By 2021, 66% of analytics processes will no longer simply discover what happened and why; instead they will also prescribe what should be done. (Ventana Research Assertions)
This prediction by Ventana indicates that analytics processes are all set to get smarter and by 2021, 66% of the technology will be smart enough to give ideas and solutions to humans, all with the help of AI technology.
The predictions tell us that the future indeed holds unlimited possibilities for data and analytics. We already live in times when data is all powerful and this is only going to get bigger in the near future and beyond.