Future Analytics

In 30 years, 40% of global GDP is going to be driven by the collection, analysis and use of data. This is an industry that’s worth getting to know, understand and be a part of for career longevity. Read on to discover where our robot, Athena, thinks there are opportunities and risks.
Athena’s forecast
Start year: 2016
Likely Tipping point: 2025
Likely End year: 2050
Likely Impact $: Billions
Likelihood: 80%
Regions affected: The World
Most affected sectors: IT, Manufacturing, Health, Energy, Transport, Food & Agriculture, Construction, Government
What is changing?

Growth

  • Worldwide revenues for big data and business analytics (BDA) will grow from $130.1 billion in 2016 to more than $203 billion in 2020.
  • By 2020, the U.S. market for big data and business analytics solutions will reach more than $95 billion.
  • Global market for search and content analytics will grow at a CAGR of over 22% between 2016 and 2020.
  • The global business intelligence market accounted USD 16.33 billion in 2015 and is expected to reach USD 26.50 billion by 2021.
  • US demand and growing global expansion will drive the market for defense and security applications to achieve a compound annual growth rate of 6.4 percent, rising from $6 billion today to more than $11 billion per year by 2025.
  • Global cloud security market was valued at around USD 4.7 billion in 2014 and is expected to reach USD 9.8 billion in 2020.
  • The global market for artificial intelligence was worth US$126.24 bn and is projected to reach a value of US$3,061.35 bn by the end of 2024.
  • The global market for text analytics will witness development at a rapid pace in the years to come.
  • Machine-learning-as-a-service models will hit nearly $20 billion in 2021 as companies increasingly adopt IoT-based technologies.
  • The global predictive analytics market could reach as high as $9 billion by 2020.
  • Global market for search and content analytics will grow at a CAGR of over 22% between 2016 and 2020.

Health

  • The next decade of therapeutic drug development will be based upon new and more effective means of data mining and data analytics.
  • 30 percent of providers will use cognitive analytics with patient data by 2018.
  • The global market for medical robotics and computer-assisted surgical equipment will grow to $17.89 billion by 2022.
  • By 2018, 30 percent of providers will run cognitive analytics on patient data.
  • In the UK alone, healthcare could benefit from big data and the Internet of Things (IoT) to the tune of £16 billion between 2016 and 2020.
  • Wireless heartbeat analysis could be used for non-invasive health monitoring and diagnosis of conditions such as arrhythmia.
  • IoT will have a huge impact on emergency services.

HR

  • Analytics could make HR into a strategic powerhouse for the business – enabling it to move from historical analysis to predictive analysis.
  • New job classes and capability profiles will rise.
  • By 2018, IDC predicts there will be a shortage of nearly 300,000 data scientists and analysts.

Insurance

  • More than 80 percent of insurers expect automation systems incorporating AI to be embedded throughout their organizations in the next five years.

Banking

  • Mobile technologies combined with real-time behavioral analytics can help banks identify the best moments of opportunity to offer assistance or make an offer.
  • The global brain computer interface (BCI) market is expected to reach a value of US$1.23 bn by 2024.
Implications
  • AI, data analytics and robotics will introduce a new dimension to operational activity with millennials focussing on development, ideas generation and customer relationships.
  • Quantum computing will be the technological innovation that will disrupt Silicon Valley for the next 50 years.
  • By end 2017, 60% of APAC’s top 1000 companies will have Digital Transformation at the center of their strategy.
  • Advanced analytics could pave the way towards greener factories and a resplendent future.
  • Artificial intelligence will help in the behavioral analysis of past trends and past data.
  • Expect speech analytics to also serve as an enabler for high-accuracy conversational interfaces.
  • Leading-edge providers are already applying image analysis tech to decipher brand signals in social-posted media,
  • Predictive data and analytics will improve management of energy, water, and emissions.
  • Bigger-than-Big Data sets will need to be managed while complex analytics are exploring the consequences of climate change.
  • Businesses that are broadening the scope and the reach of their data warehousing and analytics solutions will continue to reap the rewards of better alignment, better performance, and accelerated growth.

 

Questions
Is your analytics strategy tied to your business objectives?
What if complex analysis could be deployed across all of your organization’s data in an instant?
What Makes IoT Analytics Different?

About this Alert: robot generated from verbatim forecasts and questions auto-extracted from the Shaping Tomorrow database of articles, reports and PowerPoints and supplemented with quantitative and graphical analysis by the robot. Time to compile and produce – 50 minutes.

Learn more

Find more sources and forecasts on Shaping Tomorrow, some of which were used in this Trend Alert, or ask us for our ready-made and free, in-depth PowerPoint report or more detailed GIST briefing on this or any other topic of interest to you.

Also, click here to find out how Shaping Tomorrow can help your organization rapidly assess and respond to these and other key issues affecting your business.

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Sentiment Analysis

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