Every tap, swipe, click, and gesture forms the data. With increasing dependencies on smartphones, tablets, or laptops for every task, there is a massive increase in the amount of data we generate.
Let’s look at some of the stats regarding the data we generate every day:
- On average, around 1.7 MB of data was generated every second by each person in 2020
- Around 70% GDP of the world will have undergone digitization by the end of 2022
- The end of 2021 recorded 2 trillion Google searches, which implies that every day 6 billion searches took place
- On Instagram, almost 70% of traffic viewed brand photos in 2021
- A message shared on WhatsApp only kilobytes of data
- By 2030, it is projected that the number of IoT devices will reach 25.44 billion
Apart from the stats mentioned above, there are so many powerful facts that make you realize that Big Data is everywhere.
With the massive amount of data available on individuals currently, it is important for companies to safeguard this data. This article will let you know the job trends of Big Data in 2022 and the reasons for taking the best online courses available in the market.
What is Big Data?
Big Data is a collection of structured, unstructured, and semi-structured data that grow at exponentially high rates. This massive amount of data can be mined and analyzed to obtain information that can be used for building predictive models, machine learning projects, and numerous applications of advanced analytics.
Today its common for almost every organization to have systems that can deal with Big Data to process and store it. They have data management architectures along with the tools meant for big data analytics.
The characters of Big Data, the three V’s are:
- The volume that refers to the huge volumes of Big Data present in various environments;
- Variety: that refers to the wide variety of data types which is stored in data repositories of organizations;
- Velocity: refers to the great velocity with which this Big Data is generated, collected, and processed.
The most important thing about Big Data is that nearly every department of the organization can utilize the information extracted by analyzing Big Data in different forms. Big Data can be collected from social media platforms and websites, and other publicly shared content; or it can be intentionally collected from personal applications and electronic devices, or even through product purchases, surveys, and electronic check-ins.
Today, Big Data is used in nearly every industry, including finance, retail, healthcare, energy, manufacturing and transportation, logistics, eCommerce, banking, media and entertainment, and even government agencies.
Big Data Trends for 2022
According to the Monster Annual Trends Report, Big Data Analytics trends are forecasted to remain a highly in-demand skill in 2022.
(As published in The Economic Times)
· The boom in the Data Marketplace
Today businesses are going data-driven to make the smallest of their decisions. With the increasing number of companies realizing the importance of external as well as internal data, the data markets have become a crucial element.
You will be surprised to see a report by Gartner that states that around 35% of major enterprises will become buyers or sellers of data in the online data marketplaces by 2022. The ease of buying or selling data, its scalability, and cost-effectiveness has further fueled the growth of this business.
With the enormous increase in data generation, there is a development of data-driven decisions in companies. It is expected that data monetization is going to create huge sums of revenues.
· Analytics is the new normal
A whopping 96% of companies are planning to hire new staff with appropriate skills to fill future roles in Big Data Analytics and related roles in 2022. This is expected to be the most in-demand role in 2022, as stated by the Monster Annual Trends Report.
One of the most important reasons for increasing data analytics roles is the growing popularity of predictive analytics. By 2022, the worldwide predictive analytics market is projected to reach USD 10.95 billion.
· Artificial Intelligence and Machine Learning
With the increasing adoption of technology across every industry, the entirely tech-enabled sectors, the roles of Machine Learning and Artificial Intelligence will continue to grow this year, with a huge increase in the demand for AI and ML job roles.
Moreover, the industry reports state that investments related to AI and ML are expected to grow at a CAGR(Compound Annual Growth Rate) of a whopping 33.49% by the end of 2023.
· Fintech Sector is expanding drastically
The FinTech market of India is expanding greatly and is expected to become the third-largest market by 2025. The future is great for digitization and digital adoption across this industry, paving the way for earning huge salaries.
The demand for talent in the Indian IT sector is only going to continue, and by the second half of FY22, there will be a demand for around 450,000 employees.
· The demand for digital expertise will increase in every sector
The demand for professionals adept in digital skills is likely to increase in industries, including BFSI and crypto. The top skills that organizations are looking for are:
- Data science
- Cloud Computing
- Artificial Intelligence
- Blockchain
- Machine Learning
Also, the demand for professionals skilled in sales is likely to witness a surge in industries that may include Social Commerce, eCommerce, Retail, and FinTech.
· Freshers will be in demand
The last three months have witnessed a huge increase in the hiring of freshers and are projected to increase drastically in 2022. The ever-growing emergence of startups also fuels the demand for entry-level professionals across different industries.
Apart from the employment outlook for 2022, the report also analyzed the job trends that prevailed in 2021.
Bangalore observed the highest percentage growth of 42% among the hiring cities.
The leading tech-enabled industries, including Fintech, Crypto, eCommerce, IT, and BFSI, are going to flourish with a spike in demand for talent. With the growing demand for skilled professionals, there is a surge in professionals enrolling for top big data courses offered by Simplilearn.
This course trains you with an enterprise-class learning management system, allows you to learn at your own pace, and go through real-life projects to learn big data technologies at their best.
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Article Submitted By Community Writer
