Big Data Analytics: 6 Predictions

crystalballThe creation and consumption of data continues to grow by leaps and bounds and with it the investment in big data analytics hardware, software, and services and in data scientists and their continuing education. The availability of very large data sets is one of the reasons Deep Learning, a sub-set of artificial intelligence (AI), has recently emerged as the hottest tech trend, with Google, Facebook, Baidu, Amazon, IBM, Intel, and Microsoft, all with very deep pockets, investing in acquiring talent and releasing open AI hardware and software.

The increasing interest and investment in AI, in turn, will lead to the emergence of new tools for collecting and analyzing data and new enterprise roles and responsibilities. Here are a few predictions—based on analysis by the International Institute for Analytics (IIA), IDC, and NewVantage Partners—regarding the market for big data analytics.

The big data analytics market will soon surpass $200 billion

IDC says that worldwide revenues for big data and business analytics will grow from $130.1 billion in 2016 to more than $203 billion in 2020, at a compound annual growth rate (CAGR) of 11.7%. In addition to being the industry with the largest investment in big data and business analytics solutions (nearly $17 billion in 2016), banking will see the fastest spending growth.

There’s gold in them there mountains of data

By the end of 2017, revenue growth from information-based products will double the rest of the product/service portfolio for one third of Fortune 500 companies, says IDC. Raw data and various value-added content will be bought and sold either via marketplaces or in bilateral transactions and enterprises will begin to develop methods for valuing their data (see Chief Data Officer below). “Data monetization” will become a major source of revenues, as the world will create 180 zettabytes of data (or 180 trillion gigabytes) in 2025, up from less than 10 zettabytes in 2015, according to IDC.

Creating a data-driven culture will continue to be a challenge

More than 85% of respondents report that their firms have started programs to create data-driven cultures, but only 37% report success thus far, according to NewVantage Partners’ 5th annual survey of senior corporate executives on the topic of Big Data. Technology is not the problem. The culprits include management understanding, organizational alignment, and general organizational resistance. “If only people were as malleable as data,” say the authors of the NVP report.

Cloud vendors will increasingly compete with traditional analytics providers

With the rapid growth in analytics capabilities on cloud platforms, users will leverage large cloud vendors more prominently for analytical software in 2017, says the International Institute for Analytics (IIA). Similarly, IDC predicts that by 2018, new cloud pricing models for specific analytics workloads, will drive up to 5 times higher growth in spending on cloud versus on-premises analytics solutions.

Chief Data Officers will lead their enterprises data monetization initiatives

Today, most executives see the role of the Chief Data Officer as largely defensive, focused on ensuring compliance with regulatory requirements. But going forward, Chief data Officers will drive innovation  and will build a data culture for their organizations, say 48.3% of respondents to the NewVantage Partners’ survey.

Data translators will proliferate

In its much-quoted 2011 report on big data, the McKinsey Global Institute (MGI) quantified the  coming shortage of data scientists (140,000 to 190,000 people with “deep analytical skills” in the U.S by 2018).  Now they forecast that “millions of people” will be needed to serves as translator of the results of the work of data scientists to the rest of the organization. Similarly, Chris Brady, Mike Forde, and Simon Chadwick write in the Sloan Management Review “…it may be easier for domain experts, with deep knowledge of the business in which they are engaged and the requisite interpersonal skills, to obtain sufficient knowledge about data analysis to act as the translator for data scientists than for data scientists to gain enough knowledge about the domain, especially the language of that domain.”

Originally published on Forbes.com

 

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A New AI Assistant for the Elderly

Startup Intuition Robotics emerged from stealth on January 11, 2017, announcing a social robot aimed at keeping older adults active and engaged. The design and actions of the artificial intelligence-based device, ElliQ, make it look and feel less like a traditional robot and more as a friendly and approachable digital companion. It is unveiled this week as part of the exhibition New Old: Designing for our Future Selves at The Design Museum in London and was developed in collaboration with famed industrial designer Yves Béhar and his studio, fuseproject.

intuition_robotics_57636_highres-2The world’s advanced economies are facing today the challenge of responding to the needs of a rapidly aging population (about 15% of people in the United States and 26% in Japan are older than 65). Loneliness and social isolation are serious issues that sometimes accelerate specific health conditions and worsen the physical disabilities of older adults. “We felt that in our next venture we wanted to do something that will have actual meaning and impact in people’s lives,” says CEO and co-founder Dor Skuler, a serial entrepreneur with background in cyber security and cloud computing, explaining the motivation for founding Intuition Robotics.

ElliQ was developed with the help of 24 older adults and their families, providing ongoing feedback to the development team and allowing them to directly observe their experience with the product. Other outside advisors include Professor Guy Hoffman of Cornell University (see his TED talk Robots with Soul) who assisted with making ElliQ socially expressive; Professor Gal Kaminka of Bar Ilan University, an expert on developing robots that are socially intelligent; and Don Norman, an expert on user-centered design (and former VP of Advanced Technologies at Apple and currently the Director of the Design Lab at the University of California, San Diego).

In a statement, Yves Béhar said: “The idea of having a robot companion is quite dystopian, especially for older generations. Through years of research, we were able to develop a design language and user experience that feels natural, with subtle expressions to develop a unique bond between ElliQ and its owner. ElliQ could never replace human interaction, but it can be an important motivating factor in keeping older adults healthy and active when living alone.”

The resulting product has a number of components: An LED lighting display which conveys subtle emotional expressions and give the device a friendly and warm personification; a separate screen that operates in a cradle display or in the user’s hand; and a cloud-based component, its first iteration being a chatbot linked to Facebook Messenger. Using machine learning, ElliQ learns the preferences, behavior and personality of her owner, and proactively recommends activities based on that history and recommendations by the owner’s family.

Knowing what to suggest and when and making the device emotive enough so the user likes it, are challenges that the developers of ElliQ have attempted to master. This was important given their goal of differentiating the product from other personal or home robots on the market today. According to Skuler, most existing products are general-purpose in the sense that they are not focused on the needs of older adults. And those that have been developed specifically for this segment of the population, by and large focus on physical disabilities (e.g., assisting with lifting and carrying). Another important difference is being proactive rather than reactive (ala Alexa or Siri), suggesting a relevant activity, at a relevant time, based on daily goals.

Why “ElliQ”? “Girl power,” says Skuler. Elli is the goddess of old age in Norse mythology and she is said to have defeated Thor in a wrestling match. The “Q” was added to make it a unique word in English, so it can be used as the “wake word” for the device.  And what’s next for the powerful and intelligent assistant? A trial phase in the homes of older adults in the Bay Area, California.

Originally published on Forbes.com

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Cloud Computing Cartoons

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8 New Technologies Driven by Plummeting Costs of Computing, Storage, and Networking

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HT: Vala Afshar

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Everything You Wanted to Know about Self-Driving Cars in One Infographic

 

The Growth Of The Autonomous Car Market

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Jeff Bezos Predicts the Limits to eCommerce–and the Huge Growth Potential for Amazon

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US Census Bureau: E-commerce sales in 2016 accounted for 8.1 percent of total sales. E-commerce sales in 2015 accounted for 7.3 percent of total sales.

Jeff Bezos in an interview with Charlie Rose, April 2, 1999:

But you know, the predictions of the demise of physical retailing as a result of e-commerce are very, very premature and exaggerated. They’re– this kind of prediction comes all the time. When television was invented, people predicted the demise of the movie theaters. And the when the VCR came along, they said, ”Well, this time for sure the movie theaters”– now I’ve started to hear people say with DVD players and home theater systems, which are very high-quality, that movie theaters are gone. This is crazy because people are a gregarious species. We humans are very gregarious. We like to gather. So I think maybe 10-plus years from now, maybe 15 percent — one-five percent — might go on line with commerce.

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Data Created Every 60 Seconds

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Source: Bernard Marr

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