At first there were a lot of different opinions, but now, almost everybody agrees that big data was able to take over the whole business world. A lot of businesses are relying on it and improving the tools they use for taming big data on a daily basis. They all agree that the importance of big data is huge and that everyone who wants to stay competitive in the business world needs to pay a lot of attention to it.
However, a lot of people are wondering what will be the next step? Will big data be able to grow in the future? Are there other technologies that will get developed around it? The most likely outcome is that the data we are currently gathering and analyzing counties to develop alongside the internet of things. With these things working together, brand new technologies will develop.
Since it is expected that there will be new technology advancements that will implement big data, let’s take a quick look at what the future might bring.
Over the past 50 years or so, the processing power of computers has been able to double itself each year and a half. During this period, these newly developed processors were able to improve robotics and biotechnology, granting many innovations. Today, there is a chance for even further advancements, as accelerating technologies such as big data and AI are heading in the same direction, and with the possibility of these two uniting, there is a chance for game changing progress.
The same way scientists combined computer power in the 90s to decode the human genome and cut the time needed to get this done tremendously, newly developed technologies can combine for great results. AI and big data are already being put together; for example, Google cars and other auto-drive vehicles have already been introduced. Tesla has also combined AI and big data when launching their first autopilot feature.
With marketing being all about recognizing the needs of consumers, creating new trends and getting into the mind of potential customers will amaze them. It is highly important to deliver the right products, with the right messages to the right target audience in order to strike gold. In the past, big leaders and businessmen relied on their intuition and the ability to lead their companies the right way.
It was up to leaders and marketers to figure out the future, but they couldn’t do this with the utmost certainty. It was all about being brave and following your intuition along with the expertise. However, the use of big data is removing this need as we speak. Given the fact that marketing is almost exclusively digital today, it has become very tech-based, as marketers use a lot of different tools to help them with their job.
One of the most recent game changing tech advancements marketers put their faith in is big data. Big data has almost completely removed the need for these things, as it can fragment the marketplace, create segmentation and explore niche products. With it, companies have become smarter and they know where to focus their efforts. In a way, marketers are becoming less wise and the profession as we know it might change forever, as everyone can utilize big data and make the right steps in the future.
Not only is marketing now more targeted, in depth and more accurate, but a lot of marketers might become obsolete due to big data in the future.
Not long ago, big companies and organizations had a lot of accountants working for them, as they needed to handle all of their papers in a timely manner. Since it’s impossible for one person to work with papers so quickly, companies simply hired a lot of them and this was the solution. However, today, everything is turning to digital technology and this includes papers as well.
The development of accounting software has made accounting much easier and modern software has the ability to do everything automatically, including importing transactions, keeping track of electronic receipts, taking care of taxes and automating the payroll. Almost all of the tasks handled by accountants have already been automated and this means that accounting jobs might disappear. The irony is that a lot of accountants worked on the software.
With big data, these operations are only going to get better and more complex, automated accounting operations will emerge such as trend analysis, risk management, complex audits and many more. All of these things are probably going to cost accountants their jobs; however, performing these tasks is going to require great knowledge, meaning that new jobs will emerge as well.
AI and big data are also making a huge impact on how wars are fought these days. The brand new stealth drones have the ability to go on a programmed path, recognize threats on their own, target them, and alert the person operating. This processing is all possible because of big data enhanced with AI. However, many people are discussing whether or not this is ethical and what this kind of technology will do to the world we know today.
On the other hand, big data is also going to be used in the future for preventing conflicts by predicting economic instabilities, natural disasters, political crisis or any other catastrophic events that may lead to disasters both social and natural. This new technology powered by big data will go through and analyze blog posts, media reports, social media, and have the ability to anticipate any bad events, analyze them and learn what lead to them or what can fix them.
This is still in the making, but it’s quite promising and CIA and the U.S. Defense Department have already started working on this.
The future for big data seems quite exciting. I think that there are small chances of something coming out and simply making big data obsolete. There are a lot more possibilities for implementing big data and I think that we are only starting to explore the possibilities it has to offer us. There are a lot of noble and worthy discoveries that await big data in the future.