Ways In Which Big Data Is Anticipated To Change Life By 2020

The huge amount of data the world is dealing with these days is a curious case and the steady and rapid evolution of the internet is one of the biggest reasons behind this development. It may seem surprising but according to a report from IBM, 90% of the data available in the world at present has been created in the last two years. Today, 2.5 quintillion bytes of data are created every day and it is the job of the experts and innovators to find ways to use the data effectively. Big Data is the result of such attempts and it has proven to be quite efficient so far.

Knowing Market Statistics – Keeping an eye on the present Big Data trends, experts are anticipating big things for this technology. It is being anticipated that by 2020, Big Data is going to introduce a number of changes to life and market. Getting ready for those changes will be a smart move towards getting into a futuristic life. According to the reports, in 2017, Big Data market was worth $50 billion, the number is bound to become way bigger by 2020. Hence, the preparation is only logical. The areas which are supposed to get revolutionized by the changes are:

Security – At present, Big Data technology is being used heavily to keep frauds and scams under control. According to the available statistics, at present, 63% of the website owners are not aware that their website has been hacked, over 90% of people do not notice anything strange happening in their websites, and 50% of people become aware of the hacking when they receive a warning message from the browser or search engine. According to the experts, Big Data will introduce better scalability and performance to the security information and event management along with bringing more speed to the analyzation process of new data. It will also learn from experience and make apps and websites safer than before.

Health – As it is quite clear in the above-mentioned point that, Big Data analytics is increasing speed considerably. As a result, researches can be done faster than ever before, which, in turn, is quite helpful in diagnosis, predict disease patterns, and finding a cure faster. As the data is being analyzed and then used for finding the solutions, healthcare is about to get more efficient in saving lives and finding cures, or that is what Big Data experts are anticipating.

Science – Big Data is helping scientists unlock the secrets of the universe which was thought impossible even a few years back. This technology has made the CERN research possible. Before Big Data, it was considered to be impossible and that is due to the astronomical amount of data produced by a Large Hadron Collider. The processing power required for analyzing 30 petabytes of data produced by the collider annually was beyond impossible even a few years back but not anymore. As a result, newer horizons are opening up every day. Additionally, this technology is helping with space exploration and providing the required power for analyzing the huge amount of data needed to be analyzed.

Retail – It may seem a little unusual after getting into such deeper topics, but there is no denying that advertising and marketing are two most important areas where Big Data has been applied with success and the sectors have improved as well. Facilities like future purchase suggestions based on prior interests of individual customers are defining the retail market these days. The technology has changed the façade of online marketing significantly.

Finance – This is another area where significant improvements have been made by using Big Data technology and more changes are predicted for this area as well. High-Frequency trading now uses Big Data algorithm to make effective trading decisions with ease. Additionally, this technology is keeping various financial organizations in check. When pre-trade communication data is reported and analyzed, a number of errors and other anomalies can be easily handled, making the trading process simpler and less risky.

These are the ways in which Big Data is anticipated to change life as it is known and its various aspects by the year 2020. Keeping an eye on the market will help you to find out whether these predictions turn out to be true or not.