Emerging Big Data Trends Create High Demand for Skilled Data Scientists
One of the prominent trends that will shape the future of technology as we know it and computing, in general, is Big Data. As more organizations realize the importance of big data in all forms and sizes, its predictive and prescriptive analytics will help different sectors in innovative ways from healthcare to fraud detection to cybercrime. The combination of data, machine learning, predictive analytics, IoT and edge computing are all set to impact big data projects across all industries, and the results will be life-altering.
So, what are some of the significant trends that are shaping the big data landscape? Let’s find out:
1) Open source technology, fast and accessible options
Open source technology like Apache Hadoop, Spark, and several others are driving the big data trend with companies like Amazon Web Services, Microsoft, Cloudera, IBM using it to power their projects. According to one survey by Forrester, Hadoop usage is increasing by 32.9 percent each year. Hadoop, in particular, has options for massive storage for any data, fast processing power and the capability to run virtually limitless concurrent tasks or jobs.
This need for faster processing speed has given rise to several options such as databases like Exasol and MemSQL, Hadoop-stores like Kudu and other tools that enable more rapid queries. By using SQL-on-Hadoop engines like Apache Impala, Hive LLAP, Presto, Phoenix, and Drill and OLAP-on-Hadoop technologies such as Atscale, Jethro Data, and Kyvos Insights, query accelerators are blurring the lines between conventional storage and the world of big data.
2) Predictive analytics
Machine learning systems and Artificial Intelligence provide the backbone for predictive analytics software. With the help of these algorithms, businesses can optimize and uncover new statistical patterns that help them improve their forecasts and decision making. From eCommerce to marketing, medical diagnosis and customer service these predictive analysis capabilities can help businesses gain an edge over the competition.
3) High salaries
The rise in big data projects and their increased application in several businesses means there is high demand for skilled IT workers with big data talent. As per IDC in the US alone, “There will be 181,000 deep analytics roles in 2018 and five times that many positions are requiring related skills in data management and interpretation.”
It is also predicted that the average compensation for data scientists will increase by 6.5 percent in 2017 and 5.8 percent in the following year.
So much that, IBM has predicted that by 2020, the number of vacancies for all US data professionals will increase by 364,000 openings to 2,720,000. Currently, jobs with machine learning skills are paying an average of $114,000.
To conclude, emerging big data trends and their far-reaching application has not only helped businesses and changed the face of technology but also created a high demand in the market for data scientists and big data professionals.
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