Datanami’s #3 Big Data Trend of 2019: Streaming Analytics Has a Breakout Year
Tom Hoblitzell | | November 20, 2019
It’s often said that data is the new currency of the 21st century—which means that the more you have of it, the better. Businesses of all sizes and industries are hungry both for big data and for the digital technologies that convert it into intelligent, valuable insights.
Back in January, the big data news portal Datanami put together a list of “10 Big Data Trends to Watch for 2019.” Now that we’re firmly in the back half of the year, we’ve decided to go over each of Datanami’s 10 big data trends to see how they stack up with our own observations.
From social media to software applications, big data is constantly flowing into the organization at rates that are far too quick for any human to comprehend it. According to the IT market intelligence firm IDC, 30 percent of all data generated will be real-time information by 2025.
Without a way to efficiently capture and analyze this data, businesses are letting valuable information slip through their fingers like sand. Streaming analytics, also known as “real-time analytics,” is a way for organizations to meet the ever-increasing demand for rapid data-driven insights.
The Internet of Things (IoT) is one of the most trumpeted use cases for streaming analytics. With tens of billions of IoT-connected devices already online, the real-time data they send and receive needs to be processed and analyzed efficiently and effectively (We’ll discuss IoT devices in more detail later.)
It’s no surprise, then, that businesses are increasingly on the hunt for real-time analytics solutions that can help them beat their competitors and better serve their customers.
Open-source stream processing tools such as Apache Spark, Apache Kafka, and Apache Flink have enabled companies to massively scale their real-time analytics capabilities, handling millions of events per second without breaking a sweat. At the same time, advances in artificial intelligence and machine learning allow users to process incoming data and make smarter split-second decisions.
According to predictions from the market intelligence firm Research and Markets, the global streaming analytics industry will more than triple over the next five years: from $10.3 billion this year to $35.5 billion in 2024, with an annual growth rate of 28 percent. From what we’ve seen, 2019 is certainly a breakout year – and 2020 will likely be no different.
To get more detail on this and the other 9 data trends of 2019, Download “Top 10 Big Data Trends of 2019.”
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