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Business leaders today want to understand what information they hold and how it can be leveraged to drive business insight and value. They are looking towards IT, as the guardians of information, to navigate where their data currently resides and interpret how it can be used.
The issue for IT teams is that they are going in data blind. Often data isn’t classified at the point of creation, leaving businesses with no way of knowing whether they are looking at HR, sales or customer data. With the majority of data holding little to no value, the importance of classification is paramount to ensure businesses retain the crucial 20 per cent. Unfortunately one size does not fit all and what’s valuable to a bank isn’t necessarily useful to a hospital. Vertical solutions are crucial, especially considering the imminent growth of IoT devices. In 2015, enterprises will begin to realise the importance of understanding data at the point of creation and analysing it accordingly.
In 2015 the focus of big data projects will shift from identification to implementation
In 2015, the business value of big data projects will begin to grow. Until now we’ve seen a lot of trial projects, where businesses have tried to identify what data they hold and where it’s currently stored. Next year we’ll see this start to change, as businesses begin to understand which information is of greatest value and, through analytics, how the business can take advantage of this.
Telecoms is a great example of a leading sector. Operators are already starting to use network data from probes to pre-emptively prevent network issues and offer higher levels of service. There is also a great opportunity, when done appropriately, for operators to grow their business using the data they hold to provide a better consumer experience alongside partners. Being the first to market with a successful offering will bring enormous benefits and prestige. Which business wouldn’t want to be there first?
2015: The year of the vertical data scientist
We are still in the early phases of exploring the potential of data scientists and in 2015, we will see the emergence of data scientists specialising in particular industries. Whether it’s banking, healthcare or engineering, these professionals will not only need technical expertise, but they will also need to understand the business value of the data being generated and analysed in a specific sector.
By 2020, all businesses will need their employees to have the technical skills we associate with a data scientist today. The problem we currently face is that there is a significant skills gap in the UK for workers with the advanced data skills to meet business needs. This will be a tough challenge to solve in only five years and the development of UK tech talent must continue to be high on the agenda for both the government and businesses alike.
In 2015 we’ll need to implement a new data volume measurement
In 2003, the total amount of data ever created was five exabytes. By 2014, five exabytes of data are created every two days. The growth of IoT devices is only going to add to this and will create an explosion of new information, 400 zettabytes of data by 2018 to be exact. Today our largest unit of measurement is the yottabyte, or one million exabytes, but with innovations such as smart facial monitoring systems and connected cars, in 2015 we need to define a new unit of measurement.
