As a marketer you always cared about data as you want to know, “What is my customer buyer? What will they looking for? Why did they not buy from me? (and other similar questions in the quest to become the dominate player within your space). As a result “Big Data” has been one of the buzz words of 2013, so we now present to you 5 Predictions for Big Data for 2014 from Concurrent, Inc.:
1. Funding is the new black.
Everyone wants a piece of the Big Data pie. In 2014, we will see Big Data funding only grow, and at least one significant IPO possibly from a player like Cloudera. As investors rush to get in the game, investments in Big Data will increase significantly yet imprudently, as smart people rather than innovative ideas will attract funding. Therefore, next year will signal the need for a funding reset — more due diligence, less mediocrity.
2. More Hadoop projects will fail than succeed.
More Hadoop projects will be swept under the rug as businesses devote major resources to their Big Data projects before doing their due diligence, which results in a costly, disillusioning project failure. We may not hear about most of the failures, of course, but the successes will clearly demonstrate the importance of using the right tools. The right Big Data toolkit will enable organizations to easily carry forward the success of these projects, as well as further insert their value into their business processes for market advantage.
3. Enter the era of the Big Data product manager.
As enterprises work to bridge the emerging gap between Big Data projects and business processes, this opens the door to a new career opportunity. The role of Big Data product manager will entail the identification, definition and shipping of specific data products aimed to solve critical business problems and maximize opportunities. It will require product management and data experience, along with a deep understanding of data science, and will become the norm as companies recognize that they are in the business of data.
4. The next big thing in Big Data will NOT be the data, but the apps.
While we can expect to see continued investment happen at the data layer, we also anticipate a massive acceleration in the number and frequency of new data applications. These applications will turn into data products for internal and external use, and will clearly emerge as the next area of growth for Big Data.
5. While it becomes ever ubiquitous, the Big Data “thang” will remain convoluted.
We are sorry to say that the rapidly evolving Big Data market will continue to confuse rather than provide clear guidance on what it is exactly that enterprises should be doing now. Those businesses that can separate the wheat from the chaff, and execute upon this valuable knowledge, will be the ones to succeed.