Big Data is not just a word now; it is a revolution for the future. As it expanses its market in to every spheres of our lives, we can just as well expect our future to change. Data has become a product that we utilize every day in our lives, from being a student to a scientist.
As a student, we reply on data and the internet to update us as our view on the world expands. It is now common that students reply more on Wikipedia for their thesis researches and projects than good old books. Scientists now analyse each and every pint of data to gain more insights on the various undiscovered beauties and innovations of the universe.
According to various reports and surveys, the Big Data Market is estimated to be of value $46.34 billion by 2018. Not only this, the market is expected to retain this growth rate for the future 5 years. By the end of 2019, the market is predicted to have an annual spending amounting to $48.6 billion.
With so much data on our hands and as more millions of data are being generated at every second of the day, it is not astounding that some relevant changes are on the way. Here’s some of the ideas on the Big Data Changes by 2018:
New Laws to Protect Data –
As more people gets to know on the benefits of Big Data and analytics, more data are lead bare, even those which may be private to us. To protect from this unwanted access, the UK government has already enacted rules to protect data. These rules have known to have affected many multinational companies, especially the It sector organisations. The government plans to enact more stringent guidelines by 2018. This new laws called as ‘General Data Protection Regulation (GDPR)’, will be applicable from 25th May 2018.
According to the regulations, every company needs to keep a record of the data is uses, including personal data and its processing activities. By personal data, the rules imply to all data that can be used to pinpoint an individual – starting from genetics to economic and social details and even their IP addresses. Failure to abide by the rules can result in a fine amounting to €20 million or 4% of the total annual global turnover, based on the previous financial year, whichever is the greater.
New Big Data Jobs on the Rise –
Reports conducted on several enterprises showed by 25% of them have already introduced implemented Big Data in their organisations. The rest reveal to process their analytical procedure within the next 6 months. This also means a higher recruitment scale for the year 2018.
According to Forbes, Big Data Jobs are increasing in the market in the sectors of professor, technician, analysts and even manufacturing and finance. Posts like Information Security Analysts, Management Analysts, System Analysts and IT Project Managers will continue to be in high demand in 2018. Even big MNC’s are on the lookout of people who can offer insights to them and help them in the Big Data analytics