A fascinating fact: 90 per cent of the data in the world today has been created in the last two years alone, according to a new infographic compiled by Singapore- and India-based Aureus Analytics.
It reveals key Big Data and analytics trends for 2015, also touching on the Internet of Things (IoT), wearables, the cloud, and more.
The world’s data volume is expected to grow 40 per cent per year, and 50 times by 2020. Meanwhile, data lakes are expected to bring cost reductions by as much as 10-100 times.
‘Speedy insights at key decision points’ for enterprises will mean quick returns for companies investing in Big Data analytics, with 74 per cent of executives surveyed expecting data-driven insights to accelerate over the coming 12-18 months.
Critically, government policy towards Big Data is still ‘not sufficient to cope with growing data requirements’, the infographic points out.
Turning to cloud processing, US$180 billion of end user spending is predicted in 2015 for Big Data analytic processing in the cloud.
One important future trend will be in Deep Learning, which will allow ‘computers to recognise items of interest in large quantities of unstructured and binary data, and to deduce relationships’.
As for the IoT market, it’s predicted to see a US$28.1 billion rise by 2020. Wearables, meanwhile, have an expected market reach of US$70 billion by 2024, and are expected to fuel Big Data by their ‘always on’ engagement with consumers.
Finally, and perhaps unsurprisingly, there will be a huge increase in demand for Big Data skills between now and 2020. Although no specific numbers were shared for Asia, this demand is expected to grow by 160 per cent in the United Kingdom alone.
See Aureus’s full infographic below: