Data Analytics for the future: A look at the various components of the data grid

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Introduction

Data Analytics has culminated into a technological revolution. With the passage of time, data is becoming such a valuable asset that it is believed to have surpassed the value of oil. Different types of techniques in addition to new methodologies have been developed to cope up with this data revolution. Moreover, many new genres of data analytics courses are emerging in both online and offline mode to train professionals for the data wave.

The data grid

In the age of the fourth industrial revolution, a data grid is emerging as the meeting point of physical and digital domains. Different types of machines, volumes of data, and a large number of services combine together to form this intelligent data grid. This data grid is the canvas to turn different ideas and virtual products into concrete reality. This data grid can help us to solve different types of issues and problems which hinder our progress in this technological era. Let’s take a look at the various components of this data grid.

AI

A 2018 Gartner report suggests that the next decade belongs to applications powered by artificial intelligence. About 50% of the organizations have already stepped upon the canvas of artificial intelligence in one or the other form. The scope of research in the areas which depend on artificial intelligence is continuously growing. We can say that this is leading to the formation of a more complex data grid. Nevertheless, artificial intelligence and the various tools under its umbrella can help in unentangling this Datagrid for extraction of valuable insights.

Augmented reality

Augmented reality has gained a lot of momentum in the last few years. The beauty of this new technology is that it provides a great platform for interaction between machines and sapiens. In the gaming industry, augmented reality can be a major factor for rapid transformation. Augmented reality can prove to be a money spinner for the analytics industry given the number of visualization products that are being developed in this field.

Blockchain

This technology came to the limelight in 2017 and is expected to make its mark in the next 10 years. Due to the continuous research in encryption technology, blockchain is finding its application in a variety of sectors. In this way, blockchain is emerging as a great Data Analytics opportunity in the present time. The concept of a decentralized digital currency otherwise known as Bitcoin relies on foolproof encryption of data. It would not be wrong to say that data is the currency of the future and analytics is the central bank of this currency.

Concluding remarks

It would not be wrong to conclude with the fact that data would be the oxygen of industries in near future. As such, the importance of the data grid and its components would increase by leaps and bounds. So, a lot of time, investment, and research are needed in this domain.