The hope for the next generation of businesses is that the large quantities of data already accessible to the masses will lead to better planning in everything from better marketing campaigns to better decision making.
The biggest advantage of ‘big data’ is that it is visual and quantitative.
In the years to come the hope for advancement is that ‘big data’ will become more qualitative leading to companies visualising it in a more accessible and empathetic way.
There are significant and major trends developing in the data world that managers and professionals should be aware of in the coming year
Below we take a look at 4 of them:
With the amazing progress in invention technology machine learning has taken huge steps forward.
They have already emerged to assist Google search engine algorithms but are still only appearing in a limited range of applications. That is expected to change over the coming year with increased integration of machine learning as well as microservices.
We can also expect to see many more machine learning updates in almost all of the different types of consumer applications already on the market, from better product offerings based on purchase history to improving the user experience of an analytics app.
You may have heard of the headlines surrounding Blockchain in 2016. In 2017 we saw the drastic rise of Bitcoin price leading to more organisations taking part in ‘Bitcoin mining’.
It is expected that The Blockchain trend will change many companies and organisations, especially in the financial services industry.
The advancement of Blockchain has already contributed to the success of many businesses.
Going forward, it is anticipated that blockchain technology may go beyond the banking sector, helping startups and businesses already established to address the market with different service applications.
(Virtual and Augmented Reality)
We have seen major moves forward in the worlds of VR and AR technology over the last 2 years.
The launch of Pokémon go in 2016 received a staggering 100 million users in just its first few weeks. At the same time thousands of VR apps and games were released to the World. The market is ready for VR and AR.
There is already advanced tech and devices, for instance the new iPhone X, ready for these apps in place.
Over the next year it is thought that things will take off producing a lot more marketing opportunities.
Artificial Intelligence (AI)
The American Association for Artificial Intelligence (AAAI) held its first national conference to mark the application of theories in software way back in 1980.
Today, we see the emergence of artificial general intelligence because of deep learning, a subfield of machine learning that is used to create artificial neural networks and can form different patterns in big data.
Now that we have increased computing power and a vast amount of data, deep learning is becoming available for most entities and is widely known.
In 2017 and beyond it is expected that many more learning apps will come to the market with the hope that all our lives will be impacted in a positive way.
It is difficult to make assumptions and predications can be puzzling. There may be many more additional trends over the next years.
The ones mentioned above are those most likely to attract market attention for the rest of 2017 and into 2018.
For Marketeers and businesses it is a time to plan future business strategies and to look for the right technological resources to enable their businesses to grow.