7 Reasons Why Big Data Analytics Has a Bright Future

Big Data exists in various places and needs to be stored safely. It makes big data analytics one of the most important professions in the IT field. This position helps improve business decision-making.

1. Demand for analytics professionals continues to increase

Firstly, the employment trend chart for big data analysts proves a steady upward trend. That’s just the beginning. In the next few years, this market will grow to at least a third of the current global IT market. There is a huge demand for big data because of its features. The variety of domains that analytics uses is also snowballing. So its use is becoming more widespread.

2. High salary

According to the 2015 Skills and Salaries Survey Report published by the Institute of Analytics Professionals of Australia (IAPA), the average annual salary for data analysts is $130,000. In India, annual salary increases for analytics professionals are 50% higher than for other IT professionals. Meanwhile, the trend of salaries for this profession in the UK also shows exponential growth. The average increase every year is about 13.63%.

3. Big data analytics is a top priority in many companies

The ‘Peer Research – Big Data Analytics’ survey found that this profession is one of the top priorities. A study by Deloitte found that 65.2% of respondents used some form of data analytics to help with their business needs. A McKinsey Global Institute study states that the US will face a shortage. The shortage consists of around 190,000 data scientists and 1.5 million managers and analysts who can understand Big Data by 2018.

4. Technology continues to evolve

Next, according to a report by The Data Warehousing Institute, more than a third of respondents are currently using some form of advanced analytics on Big Data for Business Intelligence, Predictive Analytics, and Data Mining tasks. Regarding the tools, implementing the Apache Hadoop framework is still the favorite choice.

5. Analysis: key decision making

According to the ‘Analytics Advantage’ survey, 96% of respondents feel that analytics will become more critical to their company in the next three years. While there is still debate about the most significant benefits of this profession, analytics plays an essential role in driving business strategies and making effective business decisions.

6. Massive growth for big data analytics

Then, the ‘Peer Research – Big Data Analytics’ survey reports that there has been massive growth in unstructured and semi-structured data analytics. Eighty-four percent of respondents stated that the company they work for analyzes unstructured data sources, such as websites, social media, email, photos, and videos.

7. Beyond market predictions

According to IDC, the big data analyst market reached $125 billion worldwide in 2015. Its tools will be the first line of defense. In addition, it combines machine learning, text mining, and ontology modeling to provide security threat prediction, detection, and prevention programs holistic and integrated. Some of the jobs are business consultants, data architects, data engineers, and data analysts. The career choice depends on three types of data analysis: prescriptive analysis, predictive analysis, and descriptive analysis.