Big Data: Where are we headed?

Big data is currently on the fast track. The rapid ongoing developments are not showing any signs of slowing down in 2015, as seen by the following trends for the coming year:

Big Data, a Treasure Chest

Companies lose a lot of potential when their various departments work as isolated entities. When there is a lack of information flow and communication within the company, a great deal of knowledge is lost or unutilised.

A company’s internal data can be a veritable buried treasure. Those who manage to unearth it and use it effectively for their business are the companies who will take the lead.

Making the Connection

Most people view big data as an unstructured and chaotic mass of worthless information. Yet in reality, big data contains a vast potential to recognise patterns and correlations in information. Big data analyses can predict the course of an influenza epidemic in minute detail or analyse typical behaviour patterns to anticipate when a customer is toying with the idea of terminating a contract.

The development and use of these intelligent assistance systems will continue to escalate in the future, helping people and companies navigate in a steadily more complex world and create the necessary competitive edge in business.

Customised Information Processing

Every one of us works most effectively when the user interface and the structure of the content we receive are customised to fit our needs and preferences. Big data solutions automatically analyse user behaviour and tailor the system to match the individual user.

The result of this process is that, for instance, although all employees of a company will have access to the same knowledge base, they will be able to do so in completely different and individual ways, with significantly increased productivity and greater job satisfaction as a result.

Self-learning Systems

Big data systems are intelligent and self-learning. They can help businesses such as insurance companies to economically handle the flood of correspondence by extracting all relevant information from the incoming mail. Based on this information, the damage reports can be classified automatically, increasing processing speed.

Closing the Data Flood Gates

The sheer amount of information makes it next to imposssible to get a handle on the flood of data. Yet closing the data flood gates is one of big data’s main jobs. This means that incoming streams of information are continuously analysed and filtered according to various criteria. At the end of this process the user is left with information which ideally can help form concrete answers out of the mass of data.

Data Scientists & Big Questions

Big data systems need to be planned and implemented by specialists who have a deep understanding of the business processes and the core business. These experts, "data scientists", are a pleasantly exotic mixture of mathematicians, statisticians and computer scientists.

Fulfilling these prerequisites could start virtually any big data engine if the right questions are asked. Because big data needs big questions.

Daniel Fallman, CEO of Mindbreeze

Image source: Shutterstock/Carlos Amarillo