
Key Big Data Analytics Trends To Watch out for in 2022
Big data analytics was this subtle murmur that has just evolved into an uproar. Experts estimate that the big data analytics business will be worth $103 billion by 2023
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CIO Applications Europe | Tuesday, March 02, 2021

Companies increasingly use data analytics to save costs, improve customer experience, and optimize processes.
Fremont, CA: Big data analytics was this subtle murmur that has just evolved into an uproar. Experts estimate that the big data analytics business will be worth $103 billion by 2023. Moreover, data science's practical application in numerous industries has given rise to technologies like artificial intelligence, machine learning, and natural language processing that fast transform consumers' operations.
As more businesses embrace data analytics to save costs, improve the user experience, and streamline current operations, this industry will dominate in the next years. Let's see some of the top big data analytics trends.
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Predictive Analytics
By the end of 2026, the global predictive analytics industry will be worth 28.1 billion dollars. Predictive analytics is an application of business intelligence and big data. Many businesses already utilize predictive analytics to optimize their processes by employing machine learning/artificial intelligence algorithms, data mining, and predictive marketing. These digital transformation tools have transformed the traditional method towards a more modernized, holistic one. Furthermore, due to increasing internet proliferation, cloud platforms, and associated devices, organizations will be compelled to invest in predictive analytics.
Growing Cloud-Based Solutions
As leading corporations and small and medium-sized businesses become remote due to the pandemic's onslaught, more cloud-based solutions are easing this change and assisting companies in saving expenses connected with old tools and bottlenecks.
Cloud-based solutions have grown commonplace, and this trend will continue. As a result, many businesses will select cloud-native analytics solutions to obtain a competitive advantage through simplified analytics and business intelligence.
Growing BI Budget
With all of the projections made thus far, one thing is certain: many firms will boost their BI/big data budgets by up to 50 percent. It's especially true in the retail, financial services, or technology industries. For example, according to research, big data analytics in the retail sector generated 4.85 billion dollars globally in 2020, with this figure expected to rise to 25.56 billion dollars by 2028.
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