As machine learning and predictive analytics become more sophisticated, companies can base decisions on evidence, and deep learning will push the boundaries even more, with better problem-solving and language comprehension. Are you ready?
Experts predict that the universe of data—or ‘dataverse’—will reach 180 zettabytes by 2025. It’s a truly mind-boggling number, highlighting the exponential growth of big data. Bernard Marr, author of Data Strategy: How to Profit from a World of Big Data, Analytics and The Internet of Things, offers some perspective, noting that 90 per cent of existing data in the world has been generated in the last two years.
Unfortunately, the volume and variety of data available does not always equate to value.
How can companies harness big data effectively? Harvard University’s Gary King suggests that “Big data is not about the data!” Instead, he writes, “Although the increase in the quantity and diversity of data is breath-taking, data alone does not a Big Data revolution make. The progress in analytics making data actionable over the last few decades is also essential.” That’s where Artificial Intelligence (AI) comes in.