How will the Analytics Industry Look in 2018?

Only a few days are left of 2017. And if you have been watching closely then you must have a sense that the big data analytics industry is about to complete a circle in 2018. Most of the prophecies and predictions which were made about the future of analytics in the early years of the decade, held 2018 as a major demarcator. Now, we are almost there and it is time to re-initiate the speculations and predictions. For the moment however, the year 2018 demands some thoughts. What can we expect to see as far as the big data industry is concerned?

IoT all the way

The number of connected appliances has increased phenomenally in the last few years. Not to mention the number of smartphones and internet users is more than ever and growing faster than ever.

  • 2017 marked the beginning of a new era along with the launch of Reliance Jio.

The internet has now reached more people than ever.

  • The number of online shoppers is not limited among the millennials.

The e-commerce market is redefined as people of all ages are showing interest in shopping online. The rise of Amazon to the top of global business is a sign.

All of these changes have allowed access to an unimaginable amount of data. This of course creates a great many opportunities and few more problems for companies who are hard pressed to squeeze definitive insights out of the data.

Business Intelligence on the rise

Learning and practising business intelligence or business analytics has never been more important. 2018 is definitely going to see this field rise higher. Descriptive analysis, data visualization, are going to be critical skills in the upcoming year. A survey involving business intelligence professionals reveals

  • Visualization models are going to be very important for businesses. Hence visualization skills are going to be valued more.
  • Data discovery will come up as a major part of business analytics.

Predictive analysis to go mainstream

We are still a few years behind from seeing abundant use of prescriptive analysis as the technology is still in its infancy. But we will see a lot more use of predictive analysis in 2018. Consequently there will be increased demand for skilled employees with big data certification.

The increased popularity of predictive analytics is likely to be accompanied by a swelling interest in advance analytics among students and professionals.

A year of profitability

We may finally see the businesses drawing expected profits from their investments in data analytics. It has been often alleged that analytics is not bringing satisfactory results. It is not really possible to draw conclusions about the profits that can be made with analytics campaigns. Now, we may suppose that the whole thing has matured enough to give out the results to all companies that have done it right.

We can expect visible increment in business in the retail and manufacturing sector. The Analytics firms across the country can also enjoy a good year.

The healthcare sector is going to be reshaped

Healthcare analytics as a field has undergone rapid development around the world along with biological and pharmaceutical analytics. We have now understood the possibilities of these developments. It is about time that we witness the difference.

  • Diagnosis and disease identification is going to be revolutionized.
  • There will be rapid drug discovery.
  • Radiology is going to be easier and more accurate.
  • We can have electronic records of case studies which can be accessed easily for reference.

This will also bring about larger changes in the ways of preventing and tackling epidemics.

Machine learning skills will retain its coveted status.

As we were all busy marveling at the rise of AI technology, Machine Learning has silently taken the driving seat of the data science industry. It is now a part of university curriculum for computer science graduates. It is mainstream now, but that doesn’t make it less special. There is a persistent lack of personnel with machine learning skills. We have already seen use of Machine Learning in fraud detection, real-time ads, healthcare, etc. We are about to see more of it for sure.

Increased use of AI

AI technology has matured over the years. Now, it is successfully used for face recognition and reading hand written material. It is about time that technologies like speech recognition, expression recognition, using partial information, are further developed.

Persistent skill gap

This has remained a constant property for quite a few years. There is still a severe lack of able hands in data analytics and advanced analytics. A lot of people are coming through, joining the workforce. Few of them are making a real mark. It is high time to get your big data certification. And don’t stop their. Find a suitable domain, learn further. Consistent learning is the only way to cope with the stern ask of the field of analytics.

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