SOME DATA ON BIG DATA IN 2019

by Akis Manolis

While 2018 has been described by many as “the year of GDPR” and brought a lot of changes in the digital marketing landscape, the analytics needs of enterprises continue to grow as the market expands and the volume of raw data keeps growing.

Foresters latest report predicts that US digital media spending will increase to $118 billion by 2021. It is no surprise then that, according to Forbes, 82% of enterprises are prioritizing analytics and BI applications and platforms as part of their budgets for new technologies and cloud-based services.

Our own independent research has also shown how the increased digital media spending and it’s efficiency is increasingly affected by additional factors such as the expanding influence of user generated content, highlighting the importance of implementing a data-driven strategy in 2019.

Through our own experience here at XPLAIN it has been ingrained in our culture how gathering as much information as possible and implementing the best processes in big-data scoped data analysis and engineering is imperative for enterprises to gain the maximum value of their investment in the ever-changing and growing space of digital media.

2019 & Expanding Needs

Data Quality

Gartner estimated in 2018 that poor data quality costs organizations an average of $15 millions per year, a number which could keep on growing exponentially as the volume of data used is growing.

Data discovery, management and cleaning has always been the cornerstone of statistics and computational techniques such as machine learning, which makes it crucial in 2019 to go even further by advancing the methods and procedures used.

Predictive Analytics

Implementing the best data quality procedures in combination with the ever-increasing amount of brand and user generated content as well as the growing number of potential data sources, boosts all possible predictive analytics techniques and their effectiveness.

As the raw data and the noise that sequentially follows increases, 2019 is shaping up to be a year in which predictive analytics and other advanced techniques will help more than ever to discover emerging trends and shape future strategy.

Transparent AI

Artificial intelligence and machine learning techniques are being used more every day and will continue to further integrate into peoples’ lives in 2019. Enterprises use them to help transform real-time big data into actionable information, with new algorithms offering more and better recommendations and decisions.

With the increased usage of artificial intelligence and machine learning techniques the need of trustworthiness drives the growth of transparent and understandable methods and systems.