Companies are using more data than ever before in their decision-making processes. This era of Big Data will continue to develop in the new year, and will change how many businesses operate. A recent Tech Republic article identified a number of powerful Big Data trends for the coming year.
Data will be considered a corporate asset. Some businesses may be sitting on trillions of dollars worth of data, if they know how to analyze and use it. While they're collecting and analyzing it, more companies will be using it in a way that is recognized on the balance sheets.
Businesses will have access to more customer data, and will be able to apply this information to their customer engagement. The types of customer data that companies are acquiring will change as well—including location-based data at the micro and macro levels. They'll need to be careful about how they secure and use this data, because customer privacy is becoming a very big concern. Organizations will need to draw lines and establish guidelines on acceptable data gathering.
In terms of industry, some will get ahead by leaps and bounds. Sectors like financial services, retail, telecommunications and technology have all been early Big Data adopters and they will likely sprint even further ahead of other industries. Specialized data professionals will see the need for their skills growing in importance, as businesses try to get caught up with Big Data analytics and usage. Professionals who can manage large volumes of data and make use of them will be essential assets.