Here at Apoorva we understand the importance of staying current in the ever-changing world of Information Technology and Data Management. With that in mind, we’ve compiled a list of relevant trends moving into 2016 and beyond.
To begin with, ‘Big Data’ will continue to get even bigger. Everyone in the world of business is familiar with the ever-increasingly (over)used buzzwords, Big Data. But how will these buzzwords really translate into business operation? More and more, businesses are inundated with information inputs, both structured and unstructured, stemming from everything from social media platforms to real-time machine data to transactional histories. Particularly with the rise of the Internet of Things (IoT), whereby everyday, physical objects are embedded with computing devices and connected to the Internet allowing for constant data collection and exchange (e.g. think Fitbit, Nest, smart grids, etc.), the amount of processable data is growing at an almost exponential rate. This behemoth of data holds the key to improved business models and more specific consumer targeting. The problem, then, will not stem from a dearth of available information, but rather how to best utilize the the colossal amounts of data presented.
Thus, the key to success for many businesses moving forward will be how to most astutely leverage the data. And in order to leverage data, the expertise and infrastructure for analysis must be in place. Data scientists are in increasingly hot demand, and it’s no surprise that the Harvard Business Review deemed Data Scientist to be the “Sexiest Job of the 21st Century.” The infrastructure, nonetheless will be of equal, if not greater, importance.
CLOUD, CLOUD, CLOUD!
This brings us to the second fundamental trend we will see in 2016 and beyond: the ever-expanding development of cloud computing. “The Cloud,” though to many layman an elusive and confounding term, is the necessary underlying infrastructure to support the seemingly boundless big data inputs. As Neil Mendelson and Jeff Pollock of Oracle assert, “Big data cloud services are the behind-the-scenes magic of the Internet of Things. Expanding cloud services will not only catch sensor data but also feed it into big data analytics and algorithms to make use of it.” Thus we will continue to see more businesses relying on cloud infrastructures to store and process their data. The era of big data and cloud computing is only just beginning in comparison to where it will be a few years from now. International Data Corporation (IDC) has predicted that by 2018, 50% of all apps will use cognitive services and embedded analytics, as compared to the current 1%. Just to put it in perspective, that’s a 4,900% increase, and cloud computing will underlie that increase.
Going hand-in-hand with the above trends, 2016 and the coming years will also see a significant rise in artificial intelligence. Companies will increasingly attempt to use technology to leverage their real-time data inputs through predictive analytics and machine learning in order to make data-driven forecasts. Real-time data and the technology and expertise to analyze it real-time will have significant impacts in industries across the board, as it will allow for a more tailored and cost-effective business models and solutions now. With all of these important trends in mind, information technology will no longer be a component to doing business, but rather, may actually dictate how business is done. Not investing in information technology could be a company’s undoing. Owen Pettiford of CompriseIT has stated that “2016 will be ‘The Year of the Laggard’ … Companies that have not taken advantage of [social, IoT, and Big Data] technologies yet will start to see an obvious gap in competitiveness, and they will start to lose revenue and employees.”
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