Cognitive Analytics Market tremendous rise by 2025
A huge amount of data is created every second across the globe. This data comes from a wide variety of sources like sensors, pictures, videos, etc. This Data is a very important part of software lifecycle. It can be considered as the very backbone as the whole functionality of a software is based on data being collected, stored, processed and then shown in a suitable manner to end user. But valuation of data is nothing without processing. This is where Data Analytics takes the limelight. Data analytics is a multidisciplinary field whose primary objective is to extract value from data in all possible ways and deliver goals based on it. This decade has seen a massive jump in advancement of technology. Data analytics can be considered as one of the show stoppers among the rest. Data Analytics has evolved over the years and has seen a major transformation from Descriptive (what has happened) to Diagnostic (why did it happen) to Predictive (what could happen) to Prescriptive (what action could be taken). The next big paradigm shift will be towards Cognitive Analytics which will explore the massive advances in High Performance Computing Programming by combining advanced Artificial Intelligence and Machine Learning techniques with data analytics approaches.
What is Cognitive Analytics
Cognitive analytics can be best defined as providing human touch to certain tasks. Earlier, data analytics only concentrated on creating a fixed algorithm that can define or predict any trend from the given data. Now the concentration has shifted towards making this algorithm smarter so that it can change its course along with changing times. This is how human like behavior is imparted to any program. It is the one that can observe and grow itself according to changing conditions. There are various technologies in current market that helps in making this possible. Cognitive analytics is an umbrella for such technologies. It brings together a number of intelligent technologies, including semantics, artificial intelligence algorithms, deep learning and machine learning. Applying such techniques, a cognitive application can get smarter and more effective over time by learning from its interactions with data and with humans.
Future of Cognitive Analytics
There are numerous applications of Cognitive Analytics that we can see around us. It plays an important role in those sectors where data is huge and unmanageable. Banking and Healthcare are the top two sectors which rely on Cognitive analytics for a number of reasons. First of all, accuracy of decision is very important so a Cognitive Analytic tool can be free from any bias and provide best results. The second reason is the quick response time. Both of these sectors want decisions to be as fast as possible. The end users of these two sectors rely upon Cognitive analytics for such accurate and fast decisions. Apart from these two sectors, there are a lot of instances around us
which are based on this technology. From an airbus behavior to climate prediction, cognitive analytics has strengthened its roots in a lot of areas. This is possible only because of growing dependency on data as well as adaptability of these technologies. By 2025, one cannot deny that a lot of applications of our daily use will be empowered by cognitive analytics and raise the standard of living of our species. Adding human touch to any data or software always raises its quality. Nobody can be less excited to see if the watches can automatically guide anyone to their destinations based on their general trends or if the speakers installed at any place can raise alarm if someone’s health condition degrades suddenly or if the mobile phones can drop messages automatically to relatives or friends if a person shows signs of depression. This will have a clear reflection on us in coming future.
About the Author
DataFactZ is a professional services company that provides consulting and implementation expertise to solve the complex data issues facing many organizations in the modern business environment. As a highly specialized system and data integration company, we are uniquely focused on solving complex data issues in the data warehousing and business intelligence markets.