Now that the “sacred leaf” is legal in a few states, marijuana is a very popular subject. The marijuana industry has boomed since its legalization in Colorado and Washington State in 2012. Dispensaries and grow houses have become a tourist spectacle, there are even weed tours one can take to visit differing stores and try out the products…
As the average American I hear gas and oil and automatically picture money flying out of my wallet. Assuming that this is the mindset of most of our population, it is hard to feel bad for the oil and gas companies when we hear they are losing money. The problem is that most people don’t look at both sides of the situation- the lower our gas prices become, the more employees that being laid off in the oil and gas industry…
Data breaches are even scarier today as the risk level increases with more data and devices. We all are acquainted with a Twitter, Facebook or email hack, but how much more critical would these hacks be if the data breach revolved around our personally identifiable data or financial data…
In a series of interviews within the travel industry, the authors of the study from the Society of Consumer Affairs are intent to show how Big Data can be used to increase impact and reduce friction across disciplines, both within a company and the industry. Personalization is a key tenant of Big Data; there is a plethora of information about particular consumers, transactions or destinations, the reality is one of detailed, accurate personalization…
We all know Big Data is on the rise and has been making a big impact in just about every industry out there, but how much is the Big Data Industry worth? With Big Data infiltrating many different sectors, it can be expected that Big Data is worth a pretty penny. What about the up and coming technologies connected with Big Data? How much are Cognitive Computing or the IoT worth?
We live in a world that is ever changing, on the path to a more tech savvy population, we create a lot of data and rely heavily on many different devices daily. Because of this there are predictions that by 2020 Big Data will be worth $7 Billion. That is a lot of money, but it makes sense because Big Data is a very big industry.
What about other industries that are just emerging? Can we expect to see big things out of them? The answer is YES! Cognitive computing is quickly becoming a very popular and promising field. Cognitive computing will change the world in a very unique way, teaching computers cognitive thinking skills, forming more efficient versions of ourselves. This field is predicted to be worth $13 Billion by 2020.
The big kicker is the internet of things. IoT is a field that incorporates many different technological sectors to form an interconnected system of devices. The Internet of Things will change our daily living anywhere from the thermostat in our homes to our cars driving us to work. The IoT is though to be worth a whopping $7 Trillion by 2020!
To learn more about how this fields are connected,check out this article describing the interactions between different silos in the tech world.
There are plenty of people who are new to Big Data. Even though it has been quite the buzz word it is not connected to all of the industries out there. Big Data is information and we are producing mind blowing amounts everyday! Information is the key to gaining competitive advantage in whatever industry your business is competing in. Learn just how much data is being produced and where Big Data is going in the future by watching this intriguing new video!
Big Data is slowly moving away from simply being a buzz word to a respected tool used in the majority of industries these days. Now that Big Data is becoming more easily manageable and a well known tool, new systems are being developed from it. Cognitive Computing is on the rise and is said by some to be the new buzz word of 2016.
Cognitive computing is a new system that mimics the way the human brain processes information. By teaching computers to “think” in a more independent manner as opposed to being told what to do can lead tounlimited possibilities. The more human like computers become, the less busy work humans must do.
Some people think that computers are better than humans because they are objective, but every technology out there originated in someone’s brain. It is important to remember how capable the human brain can be and to emulate that is the goal of cognitive computing.
Cognitive computing uses Big Data Mining, pattern recognition and natural language processing to process information and create an appropriate response. If we can teach computers to think like humans we can use them to do the dirty work that tends to be highly time consuming and free up the experts to do more important work.
Through the combination of Machine learning, big data and cognitive computing there is a very real future of companies becoming significantly more efficient and saving a lot of money. This lucrative field is on the rise and is something everyone should expect to see a lot more of in this new exciting year!
To learn more about how cognitive computing mirrors the processes of the human brain check out this interesting article!
Big Data is Fundamental in the Hospitality and Travel Industry
Recent Comments