Concurrent, an enterprise Big Data application platform company, released its top 2014 predictions around Big Data.
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.
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.
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.
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.
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.