The objective of this module is to provide an overview of what the future impacts of big data are likely to be. Upon completion of this module you will: Gain valuable insight into the predictions for the future of Big Data Be better placed to recognise some of the trends that are emerging Acquire an overview of the possible opportunities your business can have with Big Data Understand some of the start up challenges you might have with Big Data

1. This programme has been funded with
support from the European Commission
Module 5:
The future of
big data

2. DATA SET SKILLS FOR BUSINESS
Module 5:
The future of
big data
The objective of this module is to provide an overview of what the future
impacts of big data are likely to be.
Upon completion of this module you will:
- Gain valuable insight into the predictions for the future of Big Data
- Be better placed to recognise some of the trends that are emerging
- Acquire an overview of the possible opportunities your business can have
with Big Data
- Understand some of the start up challenges you might have with Big Data
Duration of the module: approximately 1 – 2 hours

3. DATA SET SKILLS FOR BUSINESS
Module 5:
The Future
of Big Data
PREDICTIONS
TRENDS
OPPORTUNITIES
CHALLENGES

4. PREDICTIONS
DATA SET SKILLS FOR BUSINESS

5. After diving deep into 5 modules, we
can all agree that big data has taken
the business world by storm, but
what’s next? Will data continue to
grow? What technologies will develop
around it? Will big data become a relic
as quickly as the last trend —
cognitive technology?
Here are some big data predictions
from the foremost experts in the field.

6. One of the hottest technology trends today is
machine learning and it will play a big part in the
future of big data as well. It will help businesses
in preparing data and conduct predictive analysis
so that businesses can overcome future
challenges easily.
MACHINE
LEARNING WILL
BE THE NEXT BIG
THING IN BIG
DATA
1

7. Whether it is the internet of things or big data,
the biggest challenge for emerging technologies
has been security and privacy of data. The volume
of data we are creating right now and the volume
of data that will be created in the future will make
privacy even more important as stakes will be
much higher. Data security and privacy concerns
will be the biggest hurdle for big data industry and
if it fails to cope with it in an effective manner, we
will see a long list of technology trends that
became a fad very quickly.
2
PRIVACY WILL
BE THE BIGGEST
CHALLENGE

8. You might be familiar with Chief Executive Officer
(CEO), Chief Marketing Officer (CMO) and Chief
Information Officer (CIO) but have you ever heard
about Chief Data Officer (CDO)? According
to Forrester, we will see the emergence of chief
data officer as the new position and businesses will
appoint chief data officers. Although, the
appointment of chief data officer solely depend on
the type of business and its data needs but the
wider adoption of big data technologies across
enterprises, hiring a chief data officer will become
the norm.
3
CHIEF DATA
OFFICER: A NEW
POSITION WILL
EMERGE

9. As the volume of data grows and big data grows
bigger, demand for data scientists, analysts and
data management experts will shoot up. The gap
between the demand for data professionals and
the availability will widen. This will help data
scientists and analysts draw higher salaries.
4
DATA SCIENTISTS
WILL BE IN HIGH
DEMAND

10. We will see a 360-degree shift in business approach
towards software. More and more businesses will
look to purchase algorithm instead of creating their
own. After buying an algorithm, businesses can add
their own data to it. It provides businesses with
more customization options as compared to when
they are buying software. You cannot tweak
software according to your needs. In fact, it is the
other way around. Your business will have to adjust
according to the software processes but all this will
end soon with algorithms selling services taking
centre stage.
5
BUSINESSES WILL
BUY
ALGORITHMS,
INSTEAD OF
SOFTWARE

11. According to IDC analysts, “Total revenues from big
data and business analytics will rise from $122
billion in 2015 to $187 billion in 2019.” Business
spending on big data will surpass $57 billion dollars
this year. Although, the business investments in big
data might vary from industry to industry, the
increase in big data spending will remain consistent
overall. Manufacturing industry will spend the
most on big data technology while health care,
banking, and resource industries will be the fastest
to adopt.
6
MORE
DEVELOPERS
WILL JOIN THE
BIG DATA
REVOLUTION

12. According to statistics, there are six million
developers currently working with big data and
using advanced analytics. This makes up more than
33% of developers in the world. What’s even more
amazing is that big data is just getting starting so
will see a surge in a number of developer
developing applications for big data in years to
come. With the financial rewards in terms of higher
salaries involved, developers will love to create
applications that can play around with big data.
7
INVESTMENTS IN
BIG DATA
TECHNOLOGIES
WILL SKYROCKET

13. Today, businesses demand single software that provides
all the features they need and software companies and
giving them that. Business intelligence software is also
following that trend and we will see prescriptive analysis
capabilities at your competitors.dded to this software in
the future.
IDC predicts that half of the business analytics software
will incorporate prescriptive analytics build on cognitive
computing functionality. This will help businesses to make
intelligent decisions at the right time. With intelligence
built into the software, you can sift through large
amounts of data quickly and get a competitive advantage
over
8
PRESCRIPTIVE
ANALYTICS WILL
BECOME AN
INTEGRAL PART OF
BI SOFTWARE

14. None of your future investments will deliver a higher
return on your investment than if you invest in big data,
especially when it comes to boosting your business
productivity. To give you a better idea, let us put numbers
into perspective. According to IDC, organizations that
invest in this technology and attain capabilities to analyse
large amounts of data quickly and extract actionable
information can get an extra $430 billion in terms of
productivity benefits over their competitors. Yes, you
read that right, $430 billion dollars.
Remember, actionable is the key word here. You need
actionable information to take your productivity to new
heights.
9
BIG DATA WILL
HELP YOU
BREAK
PRODUCTIVITY
RECORDS

15. According to some big data experts, big data is dead.
They argue that businesses do not even use a small
portion of data they have access to and big does not
always mean better. Sooner rather than later, big data will
be replaced by fast and actionable data, which will help
businesses, take the right decisions at the right time.
Having tremendous amounts of data will not give you a
competitive advantage over your competitors but how
effectively and quickly you analyse the data and extract
actionable information from it will.
10
WILL BIG DATA
BE REPLACED BY
FAST AND
ACTIONABLE
DATA?

16. DATA SET SKILLS FOR BUSINESS
Take a BREAK and READ Article
1 in the Resource Section:
Future of Big Data
-P. Chaudhari, B. Patel

17. TRENDS
DATA SET SKILLS FOR BUSINESS

18. Truly keeping track of Big Data trends is
like trying to monitor the daily shifts in
the wind – the minute you sense a
direction, it changes. Yet the following
trends are clearly shaping Big Data going
forward.
DATA SET SKILLS FOR BUSINESS

19. Machine
Learning
As big data analytics capabilities have progressed, some enterprises have
begun investing in machine learning (ML). Machine learning is a branch of
artificial intelligence that focuses on allowing computers to learn new things
without being explicitly programmed. In other words, it analyzes existing big
data stores to come to conclusions which change how the application
behaves.
According to Gartner machine learning is one of the top 10 strategic
technology trends. It noted that today's most advanced machine learning
and artificial intelligence systems are moving "beyond traditional rule-based
algorithms to create systems that understand, learn, predict, adapt and
potentially operate autonomously."
Machine Learning Process
DATA SET SKILLS FOR BUSINESS

20. Predictive
Analytics
Predictive analytics is closely related to machine learning; in fact, ML systems
often provide the engines for predictive analytics software. In the early days of
big data analytics, organizations were looking back at their data to see what
happened and then later they started using their analytics tools to investigate
why those things happened. Predictive analytics goes one step further, using
the big data analysis to predict what will happen in the future.
The number of organizations using predictive analytics today is surprisingly
low—only 29 percent according to a 2016 survey from PwC. However,
numerous vendors have recently come out with predictive analytics tools, so
that number could skyrocket in the coming years as businesses become more
aware of this powerful tool.
The process
of Predictive
Analytics
DATA SET SKILLS FOR BUSINESS

21. Big Data
Intelligent
Apps
Another way that enterprises are using machine learning and AI
technologies is to create intelligent apps. These applications often
incorporate big data analytics, analyzing users' previous behaviors in order
to provide personalization and better service. One example that has
become very familiar is the recommendation engines that now power
many ecommerce and entertainment apps.
In its list of Top 10 Strategic Technology Trends, Gartner listed intelligent
apps second. "Over the next 10 years, virtually every app, application and
service will incorporate some level of AI," said David Cearley, vice president
and Gartner Fellow. "This will form a long-term trend that will continually
evolve and expand the application of AI and machine learning for apps and
services."
DATA SET SKILLS FOR BUSINESS

22. Intelligent
Security
Many enterprises are also incorporating big data analytics into
their security strategy. Organizations' security log data provides a
treasure trove of information about past cyber attack attempts that
organizations can use to predict, prevent and mitigate future
attempts. As a result, some organizations are integrating their
security information and event management (SIEM) software with big
data platforms like Hadoop. Others are turning to security vendors
whose products incorporate big data analytics capabilities.
DATA SET SKILLS FOR BUSINESS

23. Internet of
Things (IoT)
The Internet of Things is also likely to have a sizable impact on big
data. According to a report from IDC, "31.4 percent of organizations
surveyed have launched IoT solutions, with an additional 43 percent
looking to deploy in the next 12 months."
With all those new devices and applications coming online,
organizations are going to experience even faster data growth than
they have experienced in the past. Many will need new technologies
and systems in order to be able to handle and make sense of the flood
of big data coming from their IoT deployments.
Growth of
the
Internet of
Things
DATA SET SKILLS FOR BUSINESS

24. DATA SET SKILLS FOR BUSINESS
Take a BREAK and WATCH
Video 1 in the Resource
Section:
How Big Data Will Shape Our Future
-Rym Benchaar (Ted X Talk)

25. OPPORTUNITIES

26. DATA SET SKILLS FOR BUSINESS
WHY IS BIG DATA A BIG
OPPORTUNITY?
10%
Can lead to large
returns
For the median Fortune 1000
company, a 10% increase in usability
of and accessibility to data means
significant boosts in productivity and
sales.

27. What does that mean for specific industries?
RETAIL
49%
AIR TRANSPORTATION
21%
FOOD PRODUCTS
20%
AUTOMOBILE
19%
INDUSTRIAL INSTRUMENTS
18%
PUBLISHING
18%
RETAIL
$1.2 bn
AIR TRANSPORTATION
$3.4 bn
FOOD PRODUCTS
$3.4 bn
AUTOMOBILE
$4.2 bn
INDUSTRIAL INSTRUMENTS
$0.8 bn
PUBLISHING
$0.4 bn
Productivity
Increase
Sales
Increase
FOOD PRODUCTS
20%

28. GOVERNMENT
• Cut costs, improve efficiencies
• Improve security, transparency, public participation and internal
collaboration
• Analyse and predict events related to security, reduce fraud
TELECOMMUNICATIONS
• Manage high volumes of customer data being driven by operational
systems
• Deliver value and services by having “single view“ of customer and their
changing behavior
• Optimize mobile data and network efficiency
BANKING
• Manage risk and detect fraud
• Manage explosive growth in trade volumes and shrinking trade size
• Increase customer focus for the business
• Reduce data management costs
INSURANCE
• Improve processing speed of new applications
• Reduce inconsistencies in the increased manual claims processing
• Customize sales campaigns by improving claims segmentation
HOW CAN YOU
ACHIEVE
THOSE
NUMBERS?
To be effective
you must be
able to discuss
the industry-
specific needs
and pain points
of business
leaders.
DATA SET SKILLS FOR BUSINESS

29. RETAIL
• Manage proliferation of text and numerical data including customer data
and transaction information
• Optimize marketing spend, increase ROI
• Optimize inventory and supply chain
MEDICAL
•Consolidate data and data center
•Automate patient records and vendor payments
•Implement electronic health records
•Innovate – study the human genome
MANUFACTURING
• Optimize supply chain
• Synchronize data with suppliers for sources products and retailers for
sales
• Create centralized view of product and parts data for inventory control
• Reduce production downtime
UTILITIES
• Forecast/plan shutdowns
• Improve utilization of assets, reduce outages
• Improve integration of energy management systems
HOW CAN YOU
ACHIEVE
THOSE
NUMBERS?
To be effective
you must be
able to discuss
the industry-
specific needs
and pain points
of business
leaders.
DATA SET SKILLS FOR BUSINESS

30. While most big data teams have similar
goals, they often stall in different areas.
These areas can range from deciding
exactly what to do with the data to
deciding how to provide more people
with more access to data. We have
touched some of the big data
challenges already in the Module 1,
now let‘s take a closer look at the
challenges you might face business
wise when you dive into big data.
CHALLENGES
DATA SET SKILLS FOR BUSINESS

31. AGE FRIENDLY ECONOMY | FUTURE OPPORTUNITIES FOR SMES
CHALLENGE 1:
Figuring Out
Your Big Data
Use Cases
Why It’s a Challenge
If you’re trying to prove the value of your program, you need to start with
some solid use cases in mind. There are hundreds of use cases out there the
problem is selecting the correct one.
It’s best if you choose one where you can not only analyze data to find
meaningful trends, but also work with the business teams to make an impact
using your data.
What Can You Do?
There are many online tools like (e. g. Use Case Browser) with hundreds of
real-life use cases. You can filter through results to find ones that are suitable
for your purposes.
Pick out a few smaller use cases first. Smaller use cases mean it will also be
faster to gain results and start demonstrating impact. This will give you a
morale boost and some quick wins to provide motivation as you begin your
big data journey.
DATA SET SKILLS FOR BUSINESS

32. AGE FRIENDLY ECONOMY | FUTURE OPPORTUNITIES FOR SMES
CHALLENGE 2:
Improving
Your Agility to
Get Answers
Fast
Why It’s a Challenge
Organizations want to find answers fast
How to improve your agility:
– Effective data management, with efficient management and retention
of the right data to optimize storage and flow
– Dealing with data complexity and inaccuracy, with an effective curation
process to tame the data and make it useful
– Enabling free-form discovery, with a self-service, data-first approach to
exploration and discovery
– Controlling data without stifling innovation, with easily moderated
access that keeps private data locked down
– Getting results to the business, which requires continuously running
processes that feed data to the business
What Can You Do?
Build a single repository of your organization’s data, whether it’s
structured, unstructured, internal or external. This allows your business
analysts and data scientists to potentially mine all of your organization’s
data.
DATA SET SKILLS FOR BUSINESS

33. AGE FRIENDLY ECONOMY | FUTURE OPPORTUNITIES FOR SMES
CHALLENGE 3:
Building
Strong
Governance
Around Your
Big Data
Why It’s a Challenge
Allows you to share data while controlling access. At its
best, data governance doesn’t just establish a defense
around your data, it also creates an environment that
makes data trustworthy.
Data governance is always important.
What Can You Do?
Developing a successful data governance strategy
requires a great deal of effort—careful planning, the
right people and the right tools.
DATA SET SKILLS FOR BUSINESS

34. AGE FRIENDLY ECONOMY | FUTURE OPPORTUNITIES FOR SMES
CHALLENGE 4:
Progressing
Along Your Big
Data Journey
Why It’s a Challenge
Many companies have stalled in their big data journeys. The majority of the time,
technology is not the issue; it’s very possible to become successful at big data.
However, a successful big data journey requires a commitment to cultural
changes, business model adjustments, new process and additional skills. That’s
the difficult part.
What Can You Do?
You’ll have to take into account the complexity of your data, the complexity of
your analytics- Decide where you currently are in your data journey. Here’s how
we classify them:
– Ad-hoc – The earliest phase, where organizations experiment with and learn
about their big data needs.
– Opportunistic – The second phase when an organization starts to deliver value
to the business, building their skills and knowledge.
– Repeatable – The organization will start to deliver value to the business,
building their skills and knowledge.
– Managed – The big data analytics becomes a managed service that starts to
spread across the organization.
– Optimized – The big data analytics becomes a well-oiled machine, continuously
delivering new projects and exponential value.

35. AGE FRIENDLY ECONOMY | FUTURE OPPORTUNITIES FOR SMES
CHALLENGE 5:
What to
Consider With
Big Data
Analytics
Software?
Why It’s a Challenge
Part of efficient big data analytics is selecting the right platform to help
you through it. But what should you look for? And do you want to build
your solution or buy it? Or bridge an available software with what you
have in-house?
What Can You Do?
Start researching. There really isn’t a short answer to this, unfortunately.
Most of the time, you’ll find that a hybrid approach where you build
some and buy some works best for delivering a complete view of the
business.
DATA SET SKILLS FOR BUSINESS

36. DATA SET SKILLS FOR BUSINESS
FINISH by READING Article 2 in
the Resource Section:
Big Data for Open Innovation: Unveiling
Challenges and Opportunities
-Pasquale Del Vecchio

37. Thank-You
https://www.data-set.eu/
DATA SET SKILLS FOR BUSINESS