With 2018 coming to a close, it's time to look forward into what your business should be doing in the new year. Data marketing is becoming more and more prevalent, and more and more marketers are looking into their data insights and using data-driven marketing tactics. Understanding what the future holds for big data and its upcoming trends is a huge part of seeing success in your data marketing.
The big data world has seen just about everything. People have predicted the death of big data (yeah right, who wants to kill something that helps businesses understand their customers better and in turn make more money?) and that big data was just a fad or a buzzword.
Big data is here to stay, and it's here to help your business pinpoint information on your target audience, their buying habits, and how you can easily turn them into your customers.
Here are a few big data trends to keep an eye out for in 2019.
1. Augmented Analytics
We've heard the word "augmented" used in augmented reality before, made mainstream in 2016 by the popular game Pokémon Go. It brought aspects of reality into fantasy by allowing players to find and capture Pokémon in their actual surrounding areas by following a map. Other examples of augmented reality include online shopping apps where you can test things out on your face (i.e., glasses or make-up) or in your home (i.e., furniture or decor), games that mix gameplay with reality (i.e., Pokémon Go and Star Wars Stickers), and others.
Although augmented analytics are quite different, it's still utilizing some of the same ideologies. It's not fully artificial intelligence, but it's a mixture of machine learning based on real analytics and results. Essentially, augmented analytics is an analytics practice where machines automate data preparation and insight sharing.
A report published in 2017 talked about how this is going to be the next big thing, and with 2019 on the horizon, it's looking like this may still be the case. We love good automation, and it's looking like the future is heading toward data analysis automation. This is huge because it'll automate the more tedious processes with which data analysts are faced and allow them to instead focus on more specialized problems and analytics areas.
2. Data Privacy Regulations
This is only the beginning, though. Although it likely won't go into effect during the year 2019, the US is looking to mimic some of the regulations listed in the GDPR. With seemingly endless Facebook and other big company data scandals this year, the government wants to do something about the widespread panic of consumer data getting into the wrong hands.
2019 will likely see talk of how the US can implement such regulations, with the first one already set to go into place in January 2020.
3. Artificial Intelligence
Every year, we get closer and closer to artificial intelligence becoming a real part of society, and 2019 is no different. Although we've seen small pieces of artificial intelligence come to life in the past (think Siri and Alexa, for starters), there's no denying that it gets continuously more advanced. Social media algorithms are able to pinpoint posts they think will perform best in your feed due to your past interactions, Netflix and other streaming shows place content in front of you the algorithm thinks you'll enjoy, and more.
But what can we expect from artificial intelligence in 2019?
- More Advanced AI Assistants
Speaking of tools like Alexa, did you know that nearly 50 million US adults have one of these smart speakers? This audience is able to ask their AI assistants to play specific music, report on the weather, and more. They're only going to get more advanced with even more capabilities.
- AI-Powered Search
This also ties into AI assistants, as many people are using Siri, Alexa, and Google Home to run online searches for them. They can easily ask a question of their AI assistant or smart speaker and hear search results read back to them.
This means that AI-powered search needs to continuously improve so that both the smart speakers and the search engines will continue to be used. If the smart speakers provide poor search results, it can reflect negatively on both parties involved, the AI assistant and the search engine.
In addition, because people often speak differently than they type or write, the way that search results appear is going to change. Search engines will have to adapt to longer spoken questions, rather than the shorter search queries people type.
These became prevalent in platforms like Facebook Messenger in 2016, and they're not going anywhere soon. In fact, they seem to just keep growing, all the while getting cooler and cooler. Facebook has added direct purchasing capabilities to their Messenger bots so that consumers can shop within them and there are a number of new businesses whose only job is to create bots for companies.
These chatbots have customer service capabilities, informational capabilities, shopping capabilities, and so much more. And the options will just continue to grow. Watch for even more features in 2019, as well as more and more platforms that open up their messaging communication to bots.
Each of these AI trends relates back to data. AI assistants, search engines, and chatbots all receive data from their users. This means there's going to be even more available data for businesses and marketers to access to help them market and sell to their target audience.
4. Open Source
Open source projects are one of the greatest contributions to software development today. An open source project is code for an app, software, or other creation that is freely and openly available for other people to access, use, and change. There are many open source communities online where software developers collaborate on projects and discuss changes openly.
This has created a huge growth and advancement of certain software and technologies because many different brains are accessing the same code to make tweaks to perfect or fix something.
In 2019, we'll likely see the growth of open source projects and software, especially in the big data space. Free data tools and software will become available due to these projects, which is a huge benefit for small- to medium-sized businesses who don't have the budgets to be fully data-driven in their marketing. This is a pretty big advancement if you ask us because it gives the little guys access to marketing data they wouldn't otherwise have. You know we're all about the marketing data.
5. IoT Networks
IoT, or the Internet of Things, essentially refers to every single "thing" (i.e., smartphone, laptop, tablet, smart TV, smart speaker, and more) that connects to the internet and collects and shares data. In fact, we likely wouldn't even have our smart speakers if it weren't for IoT.
Companies understand this and therefore want to invest even further in IoT, creating IoT networks and the ability to stream marketing big data analytics for machine learning (bringing us full circle back to number one in this article, augmented analytics). In fact, some studies are showing that IoT will generate more than $300 billion by 2020, which means 2019 is going to be a year for the books when it comes to IoT.
Investing in IoT also means providing more solutions for utilizing this technology. This, in turn, provides more and more ways to collect and analyze data. So by creating more IoT tech, we'll overall be able to collect even more data, thus generating the need for even more data management software tools, features, and abilities.
Each of these big data trends means even more data, leading to the need for data management software and even more data-driven marketers and analysts. When we talk about augmented analytics, data privacy regulations, artificial intelligence, open source software, and IoT networks all in one fell swoop, it's easy to see that the big data industry is far from dead. In fact, it's thriving, and it's not going anywhere soon.
Big data is the future, and all businesses need to start planning for access to marketing big data analytics software, data management tools, and more, in order to stay in the game. Learn more about the new shortage of data-driven marketers and how you can ensure your business does not fall victim. Contact us today to learn more about our data management software and how it can help you stay afloat in the year of big data.