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Data Science Predictions for 2017

According to Information Week, Big Data Analytics Sales Will Reach $187 Billion by 2019.

 

From Dataversity

By Paramita Ghosh, November 1, 2016

For 2017, Data Science is allowing enterprises to create opportunities for business growth and profit like never before.

The limitations of science and technology that previously withheld the power of Data Science are gradually eroding, and the Data Management industry can expect some major changes to sweep through global Data Science practices in 2017. 

Here are predictions about where the Data Science industry is headed in 2017:

1. Machine Learning to Rule the Industry

Given the close relationship of Data Science and Machine Learning (ML), the future business analytics world will not be able to survive without ML. As ML is increasingly becoming more relevant to Data Scientists, a basic skill level in Machine Learning will soon become mandatory to even begin a career in Data Science. In 2017. Organizations will go the extra mile to locate and attract Data Scientists will solid Machine Learning skills to enrich their Data Science Departments.

2. Internet of Things Data Streams to Conquer Traditional Business Intelligence

As sensor-driven devices continue to engulf all facets of human society, about 50 percent of Business Intelligence (BI) platforms will capitalize on event data streams. This trend will result in a new breed of BI solutions surfacing on the horizon to capture and harvest real-time data troves from attached devices in a wide range of applications like weather forecasting, manufacturing, electrical, voice recognition, and health monitoring systems, to name a few. 

According to GE’s Industrial Internet Insights Report, the Internet of Things (IoT) market will contribute between $10 and $15 trillion to global GDP in the next 20 years, which can be witnessed in the rising popularity of IoT skills in the Data Science marketplace.

3. Big Data Technology Spending will Boom

Today, Big Data technologies are more mainstream and more necessary for the success of Data Science initiatives than they have been at any time in the past.

2017 will certainly see a continued boost in Big Data investments, especially as the cost to handle the “volume, velocity and variety of data” has substantially come down. According to Information Week, Big Data Analytics Sales Will Reach $187 Billion by 2019.

4. The Persistent Growth of the Hadoop Market

Hadoop will not only continue to deliver a centralized platform for cleansing, storing, and processing huge volumes of data, but it will also combat the cost-prohibitive nature of standard IT solutions. Hadoop offers an excellent solution to deal with a wide variety of applications like Predictive Analytics, ETL, Data Visualization, Data Mining, Data Warehousing, IoT, or Clickstream Analysis. Today, Hadoop is considered one of the most preferred single, scalable, and cost-friendly alternatives to commercial Big Data Management systems. The Hadoop Market Forecast 2017-2022 forecasts that this expanding market will surpass $16 billion by 2020.

5. Data Science in Action – Healthcare Business Intelligence and Analytics

In healthcare, a highly techno-enabled and digitized patient care world of 2020 is predicted. As technologies like video conferencing and wearable devices become more commonplace, the tech-savvy patients of tomorrow will gradually look towards the digital platform for their day-to-day healthcare needs. By and large, the future healthcare industry is heading towards a digital healthcare platform.

6. 25 percent of Enterprises will Recruit a Chief Data Officer (CDO) by the End of 2017

The coming year will experience an integrated data-driven culture in global businesses. CDO’s are some of the primary drivers pushing for more Data Science use within their departments. They understand the need for Advanced Analytics and the many benefits that Data Science can provide an enterprise.

The rapid growth and use of allied technologies like Big Data, Hadoop, and the Internet of Things will continue to evolve through 2017. The data deluge pouring in from online, mobile, social, and IoT networks are finally beginning to make sense to business owners all over the globe. Data Science will help make better sense of these trends and aid the continued growth of the Data Management industry as a whole well into 2017 and beyond.

#DataScience #Hadoop #BigData #MachineLearning  #MaharishiU #MUMComPro #BigDataAnalytics #IoT #DataManagement #CDO #Internet of Things

 

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Comments 2

Guest - MSP Blueshift on Tuesday, 06 June 2017 16:51

Awesome insights. Keep up the good work

Awesome insights. Keep up the good work
Guest - Gopal Reddy on Saturday, 10 June 2017 06:19

It's very useful information

It's very useful information
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