Cloud Migration of Dark Data
In simple words, “dark data” means information that’s collected but not used. In 2024, it’s expected that more businesses will start moving this unused data to the cloud. Why? Because the cloud offers benefits like being able to easily expand, saving money, and making data easier to get to and analyze, unlike keeping it on their own computers. By doing this, businesses can find important insights from the data, which can help them run better. This shift is part of what people call the “future of big data.”
As per MarketsandMarkets, the worldwide predictive analytics market is projected to experience significant growth, increasing from $7.2 billion in 2019 to $21.5 billion by 2024, exhibiting a compound annual growth rate (CAGR) of 24.5% throughout the forecast period. Notably, the banking, financial services, and insurance (BFSI) sector are anticipated to dominate the market size during this forecast period.
Real-time applications of cloud migration of Dark Data:
- Predictive Analytics: Moving hidden data to the cloud lets businesses use predictive analytics to guess what might happen next.
- Data Mining: Shifting dark data to the cloud helps companies employ data mining techniques to find patterns and trends within their data.
- Business Intelligence: Migration of dark data to the cloud allows businesses to use business intelligence tools, gaining insights into their operations and making data-driven decisions.
- Future of Big Data: This shift towards the cloud is shaping the future of big data, enabling more advanced analysis and decision-making processes.
Top 10 Big Data Trends For 2024
Today, we live in a new digital age where things like Artificial Intelligence and Machine Learning have changed how businesses and society work. Big data trends have become important for understanding what’s happening in the market and making decisions for businesses. With so much data available, companies want to find better ways to use it. Big data trends have been especially helpful during the COVID-19 pandemic, boosting sectors like healthcare and online shopping.
It is expected that the big data market is going to shoot up to 200 USD Billion by 2025. So, let’s check out the Top 10 Big Data Trends for 2024.
List of Upcoming 10 Big Data Trends For 2024
- Growing IoT Networks
- More Approachable Artificial Intelligence
- The Rise of Predictive Analytics
- Cloud Migration of Dark Data
- The Rise of Chief Data Officers
- Quantum Computing
- Smarter and Tighter Cybersecurity
- Endpoint Security
- Cloud Security
- Open Source Data
- Data Democratization
- Data Ethics
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