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The field of artificial intelligence is booming with constant breakthroughs leading to ever-more sophisticated applications. This rapid growth translates directly to job creation. Thus, AI jobs are a promising career choice in today’s world.

As AI integrates into everything from healthcare to finance, new professions are emerging, demanding specialists to develop, manage, and maintain these intelligent systems. The future of AI is bright, and brimming with exciting job opportunities for those ready to embrace this transformative technology.

In this blog, we will explore the top 10 AI jobs and careers that are also the highest-paying opportunities for individuals in 2024.

Top 10 highest-paying AI jobs in 2024

Our list will serve as your one-stop guide to the 10 best AI jobs you can seek in 2024.

 

10 Highest-Paying AI Jobs in 2024
10 Highest-Paying AI Jobs in 2024

 

Let’s explore the leading roles with hefty paychecks within the exciting world of AI.

Machine learning (ML) engineer

Potential pay range – US$82,000 to 160,000/yr

Machine learning engineers are the bridge between data science and engineering. They are responsible for building intelligent machines that transform our world. Integrating the knowledge of data science with engineering skills, they can design, build, and deploy machine learning (ML) models.

Hence, their skillset is crucial to transform raw into algorithms that can make predictions, recognize patterns, and automate complex tasks. With growing reliance on AI-powered solutions and digital transformation with generative AI, it is a highly valued skill with its demand only expected to grow. They consistently rank among the highest-paid AI professionals.

AI product manager

Potential pay range – US$125,000 to 181,000/yr

They are the channel of communication between technical personnel and the upfront business stakeholders. They play a critical role in translating cutting-edge AI technology into real-world solutions. Similarly, they also transform a user’s needs into product roadmaps, ensuring AI features are effective, and aligned with the company’s goals.

The versatility of this role demands a background of technical knowledge with a flare for business understanding. The modern-day businesses thriving in the digital world marked by constantly evolving AI technology rely heavily on AI product managers, making it a lucrative role to ensure business growth and success.

 

Large language model bootcamp

 

Natural language processing (NLP) engineer

Potential pay range – US$164,000 to 267,000/yr

As the name suggests, these professionals specialize in building systems for processing human language, like large language models (LLMs). With tasks like translation, sentiment analysis, and content generation, NLP engineers enable ML models to understand and process human language.

With the rise of voice-activated technology and the increasing need for natural language interactions, it is a highly sought-after skillset in 2024. Chatbots and virtual assistants are some of the common applications developed by NLP engineers for modern businesses.

 

Learn more about the many applications of NLP to understand the role better

 

Big data engineer

Potential pay range – US$206,000 to 296,000/yr

They operate at the backend to build and maintain complex systems that store and process the vast amounts of data that fuel AI applications. They design and implement data pipelines, ensuring data security and integrity, and developing tools to analyze massive datasets.

This is an important role for rapidly developing AI models as robust big data infrastructures are crucial for their effective learning and functionality. With the growing amount of data for businesses, the demand for big data engineers is only bound to grow in 2024.

Data scientist

Potential pay range – US$118,000 to 206,000/yr

Their primary goal is to draw valuable insights from data. Hence, they collect, clean, and organize data to prepare it for analysis. Then they proceed to apply statistical methods and machine learning algorithms to uncover hidden patterns and trends. The final step is to use these analytic findings to tell a concise story of their findings to the audience.

 

Read more about the essential skills for a data science job

 

Hence, the final goal becomes the extraction of meaning from data. Data scientists are the masterminds behind the algorithms that power everything from recommendation engines to fraud detection. They enable businesses to leverage AI to make informed decisions. With the growing AI trend, it is one of the sought-after AI jobs.

Here’s a guide to help you ace your data science interview as you explore this promising career choice in today’s market.

 

Computer vision engineer

Potential pay range – US$112,000 to 210,000/yr

These engineers specialize in working with and interpreting visual information. They focus on developing algorithms to analyze images and videos, enabling machines to perform tasks like object recognition, facial detection, and scene understanding. Some common applications of it include driving cars, and medical image analysis.

With AI expanding into new horizons and avenues, the role of computer vision engineers is one new position created out of the changing demands of the field. The demand for this role is only expected to grow, especially with the increasing use and engagement of visual data in our lives. Computer vision engineers play a crucial role in interpreting this huge chunk of visual data.

AI research scientist

Potential pay range – US$69,000 to 206,000/yr

The role revolves around developing new algorithms and refining existing ones to make AI systems more efficient, accurate, and capable. It requires both technical expertise and creativity to navigate through areas of machine learning, NLP, and other AI fields.

Since an AI research scientist lays the groundwork for developing next-generation AI applications, the role is not only important for the present times but will remain central to the growth of AI. It’s a challenging yet rewarding career path for those passionate about pushing the frontiers of AI and shaping the future of technology.

Curious about how AI is reshaping the world? Tune in to our Future of Data and AI Podcast now!

 

Business development manager (BDM)

Potential pay range – US$36,000 to 149,000/yr

They identify and cultivate new business opportunities for AI technologies by understanding the technical capabilities of AI and the specific needs of potential clients across various industries. They act as strategic storytellers who build narratives that showcase how AI can solve real-world problems, ensuring a positive return on investment.

Among the different AI jobs, they play a crucial role in the growth of AI. Their job description is primarily focused on getting businesses to see the potential of AI and invest in its growth, benefiting themselves and society as a whole. Keeping AI growth in view, it is a lucrative career path at the forefront of technological innovation.

 

How generative AI and LLMs work

Software engineer

Potential pay range – US$66,000 to 168,000/yr

Software engineers have been around the job market for a long time, designing, developing, testing, and maintaining software applications. However, with AI’s growth spurt in modern-day businesses, their role has just gotten more complex and important in the market.

Their ability to bridge the gap between theory and application is crucial for bringing AI products to life. In 2024, this expertise is well-compensated, with software engineers specializing in AI to create systems that are scalable, reliable, and user-friendly. As the demand for AI solutions continues to grow, so too will the need for skilled software engineers to build and maintain them.

Prompt engineer

Potential pay range – US$32,000 to 95,000/yr

They belong under the banner of AI jobs that took shape with the growth and development of AI. Acting as the bridge between humans and large language models (LLMs), prompt engineers bring a unique blend of creativity and technical understanding to create clear instructions for the AI-powered ML models.

As LLMs are becoming more ingrained in various industries, prompt engineering has become a rapidly evolving AI job and its demand is expected to rise significantly in 2024. It’s a fascinating career path at the forefront of human-AI collaboration.

 

 

Interested to know more? Here are the top 5 must-know AI skills and jobs

 

The potential and future of AI jobs

The world of AI is brimming with exciting career opportunities. From the strategic vision of AI product managers to the groundbreaking research of AI scientists, each role plays a vital part in shaping the future of this transformative technology. Some key factors that are expected to mark the future of AI jobs include:

  • a rapid increase in demand
  • growing need for specialization for deeper expertise to tackle new challenges
  • human-AI collaboration to unleash the full potential
  • increasing focus on upskilling and reskilling to stay relevant and competitive

 

Explore a hands-on curriculum that helps you build custom LLM applications!

 

If you’re looking for a high-paying and intellectually stimulating career path, the AI field offers a wealth of options. This blog has just scratched the surface – consider this your launchpad for further exploration. With the right skills and dedication, you can be a part of the revolution and help unlock the immense potential of AI.

April 16, 2024

The digital age today is marked by the power of data. It has resulted in the generation of enormous amounts of data daily, ranging from social media interactions to online shopping habits. It is estimated that every day, 2.5 quintillion bytes of data are created. Although this may seem daunting, it provides an opportunity to gain valuable insights into consumer behavior, patterns, and trends.

Big data and power of data science in the digital age
Big data and data science in the digital age

This is where data science plays a crucial role. In this article, we will delve into the fascinating realm of Data Science and the power of data. We examine why it is fast becoming one of the most in-demand professions. 

What is data science? 

Data Science is a field that encompasses various disciplines, including statistics, machine learning, and data analysis techniques to extract valuable insights and knowledge from data. The primary aim is to make sense of the vast amounts of data generated daily by combining statistical analysis, programming, and data visualization.

It is divided into three primary areas: data preparation, data modeling, and data visualization. Data preparation entails organizing and cleaning the data, while data modeling involves creating predictive models using algorithms. Finally, data visualization involves presenting data in a way that is easily understandable and interpretable. 

Importance of data science 

The application is not limited to just one industry or field. It can be applied in a wide range of areas, from finance and marketing to sports and entertainment. For example, in the finance industry, it is used to develop investment strategies and detect fraudulent transactions. In marketing, it is used to identify target audiences and personalize marketing campaigns. In sports, it is used to analyze player performance and develop game strategies.

It is a critical field that plays a significant role in unlocking the power of big data in today’s digital age. With the vast amount of data being generated every day, companies and organizations that utilize data science techniques to extract insights and knowledge from data are more likely to succeed and gain a competitive advantage. 

Skills required for a data scientist

It is a multi-faceted field that necessitates a range of competencies in statistics, programming, and data visualization.

Proficiency in statistical analysis is essential for Data Scientists to detect patterns and trends in data. Additionally, expertise in programming languages like Python or R is required to handle large data sets. Data Scientists must also have the ability to present data in an easily understandable format through data visualization.

A sound understanding of machine learning algorithms is also crucial for developing predictive models. Effective communication skills are equally important for Data Scientists to convey their findings to non-technical stakeholders clearly and concisely. 

If you are planning to add value to your data science skillset, check out ourPython for Data Sciencetraining.  

What are the initial steps to begin a career as a Data Scientist? 

To start a  career, it is crucial to establish a solid foundation in statistics, programming, and data visualization. This can be achieved through online courses and programs, such as data. To begin a career in data science, there are several initial steps you can take:

  • Gain a strong foundation in mathematics and statistics: A solid understanding of mathematical concepts such as linear algebra, calculus, and probability is essential in data science.
  • Learn programming languages: Familiarize yourself with programming languages commonly used in data science, such as Python or R.
  • Acquire knowledge of machine learning: Understand different algorithms and techniques used for predictive modeling, classification, and clustering.
  • Develop data manipulation and analysis skills: Gain proficiency in using libraries and tools like pandas and SQL to manipulate, preprocess, and analyze data effectively.
  • Practice with real-world projects: Work on practical projects that involve solving data-related problems.
  • Stay updated and continue learning: Engage in continuous learning through online courses, books, tutorials, and participating in data science communities.

Science training courses 

To further develop your skills and gain exposure to the community, consider joining Data Science communities and participating in competitions. Building a portfolio of projects can also help showcase your abilities to potential employers. Lastly, seeking internships can provide valuable hands-on experience and allow you to tackle real-world Data Science challenges. 

The crucial power of data

The significance cannot be overstated, as it has the potential to bring about substantial changes in the way organizations operate and make decisions. However, this field demands a distinct blend of competencies, such as expertise in statistics, programming, and data visualization 

June 7, 2023

In the modern digital age, big data serves as the lifeblood of numerous organizations. As businesses expand their operations globally, collecting and analyzing vast amounts of information has become more critical than ever before.

However, this increased reliance on data also exposes organizations to elevated risks of cyber threats and attacks aimed at stealing or corrupting valuable information. It raises a need for big data protection.

Securing big data
Securing big data

To counter these risks effectively, content filtering, network access control, and Office 365 security services emerge as valuable tools for safeguarding data against potential breaches. This article explores how these technologies can enhance data security in the era of big data analytics. 

Importance of data privacy in the age of big data analytics 

In the era of big data analytics, data privacy has attained unprecedented importance. With the exponential growth of internet connectivity and digital technologies, protecting sensitive information from cyber threats and attacks has become the top priority for organizations.

The ramifications of data breaches can be severe, encompassing reputational damage, financial losses, and compliance risks. To mitigate these risks and safeguard valuable information assets, organizations must implement robust data protection measures.

Content filtering, network access control, and security services play pivotal roles in detecting potential threats and preventing them from causing harm. By comprehending the significance of data privacy in today’s age of big data analytics and taking proactive steps to protect it, organizations can ensure business continuity while preserving customer trust.  

Understanding content filtering and its role in big data protection 

Content filtering is critical in data protection, particularly for organizations handling sensitive or confidential information. This technique involves regulating access to specific types of content based on predefined parameters such as keywords, categories, and website URLs.

By leveraging content filtering tools and technologies, companies can effectively monitor inbound and outbound traffic across their networks, identifying potentially harmful elements before they can inflict damage. 

Content filtering empowers organizations to establish better control over the flow of information within their systems, preventing unauthorized access to sensitive data. By stopping suspicious web activities and safeguarding against malware infiltration through emails or downloads, content filtering is instrumental in thwarting cyberattacks.  

Moreover, it provides IT teams with enhanced visibility into network activities, facilitating early detection of potential signs of an impending attack. As a result, content filtering becomes an indispensable layer in protecting digital assets from the ever-evolving risks posed by technological advancements. 

Network Access Control: A key component of cybersecurity 

Network Access Control (NAC) emerges as a critical component of cybersecurity, enabling organizations to protect their data against unauthorized access. NAC solutions empower system administrators to monitor and control network access, imposing varying restrictions based on users’ roles and devices. NAC tools help prevent external hacker attacks and insider threats by enforcing policies like multi-factor authentication and endpoint security compliance.

Effective network protection encompasses more than just perimeter defenses or firewalls. Network Access Control complements other cybersecurity measures by providing an additional layer of security through real-time visibility into all connected devices.

By implementing NAC, businesses can minimize risks associated with rogue devices and shadow IT while reducing the attack surface for potential breaches. Embracing Network Access Control represents a worthwhile investment for organizations seeking to safeguard their sensitive information in today’s ever-evolving cyber threats landscape. 

Leveraging Office 365 security services for enhanced data protection 

Leveraging Office 365 Security Services is one way businesses can enhance their data protection measures. These services offer comprehensive real-time solutions for managing user access and data security. With the ability to filter content and limit network access, these tools provide an extra defense against malicious actors who seek to breach organizational networks.

Through proactive security features such as multi-factor authentication and advanced threat protection, Office 365 Security Services enable businesses to detect, prevent, and respond quickly to potential threats before they escalate into more significant problems.

Rather than relying solely on reactive measures such as anti-virus software or firewalls, leveraging these advanced technologies offers a more effective strategy for protecting your sensitive information from breaches or loss due to human error.

Ultimately, regarding securing your valuable data from hackers or cybercriminals in today’s age of big data analytics, relying on content filtering, and network access control techniques combined with leveraging Office 365 Security Services is key.

By investing in constant updates for such technology-driven approaches related to security, you could ensure no privacy violation occurs whilst keeping sensitive files & proprietary business information confidential & secure at all times! 

Benefits of big data analytics for data protection 

The role of big data analytics in protecting valuable organizational data cannot be overstated. By leveraging advanced analytics tools and techniques, businesses can detect vulnerabilities and potential threats within vast volumes of information. This enables them to develop more secure systems that minimize the risk of cyberattacks and ensure enhanced protection for sensitive data.

One effective tool for safeguarding organizational data is content filtering, which restricts access to specific types of content or websites. Additionally, network access control solutions verify user identities before granting entry into the system. Office 365 security services provide an extra layer of protection against unauthorized access across multiple devices.

By harnessing the power of big data analytics through these methods, businesses can stay ahead of evolving cyber threats and maintain a robust defense against malicious actors seeking to exploit vulnerabilities in their digital infrastructure. Ultimately, this creates an environment where employees feel secure sharing internal information while customers trust that their data is safe. 

Best practices for safeguarding your data in the era of big data analytics 

The era of big data analytics has revolutionized how businesses gather, store, and utilize information. However, this growth in data-driven tools brings an increasing threat to valuable company information. Effective content filtering is key in limiting access to sensitive data to safeguard against cyber threats such as hacking and phishing attacks.

Employing network access control measures adds a layer of security by regulating user access to corporate systems based on employee roles or device compliance. Office 365 security services offer a holistic approach to protecting sensitive data throughout the organization’s cloud-based infrastructure. 

With features such as Data Loss Prevention (DLP), encryption for email messages and attachments, advanced threat protection, and multifactor authentication, Office 365 can assist organizations in mitigating risks from both internal and external sources.  

Successful implementation of these tools requires regular training sessions for employees at all organizational levels about best practices surrounding personal internet use and safe handling procedures for company technology resources. 

Ensuring data remains safe and secure 

Overall, ensuring data safety and security is vital for any organization’s success. As the amount of sensitive information being collected and analyzed grows, it becomes crucial to employ effective measures such as content filtering, network access control, and Office 365 security services to protect against cyber threats and attacks. 

By integrating these tools into your cybersecurity strategy, you can effectively prevent data breaches while staying compliant with industry regulations. In a world where data privacy is increasingly important, maintaining vigilance is essential for protecting crucial resources and ensuring the growth and competitiveness of businesses in the modern era.  

May 26, 2023

Many people who operate internet businesses find the concept of big data to be rather unclear. They are aware that it exists, and they have been told that it may be helpful, but they do not know how to make it relevant to their company’s operations. 

Using small amounts of data at first is the most effective strategy to begin a big data revolution. There is a need for meaningful data and insights in every single company organization, regardless of size.

Big data plays a very crucial role in the process of gaining knowledge of your target audience as well as the preferences of your customers. It enables you to even predict their requirements. The appropriate data has to be provided understandably and thoroughly assessed. A corporate organization can accomplish a variety of objectives with its assistance. 

 

Understanding Big Data
Understanding Big Data

 

Nowadays, you can choose from a plethora of Big Data organizations. However, selecting a firm that can provide Big Data services heavily depends on the requirements that you have.

Big Data Companies USA not only provides corporations with frameworks, computing facilities, and pre-packaged tools, but they also assist businesses in scaling with cloud-based big data solutions. They assist organizations in determining their big data strategy and provide consulting services on how to improve company performance by revealing the potential of data. 

The big data revolution has the potential to open up many new opportunities for business expansion. It offers the below ideas. 

 

Competence in certain areas

You can be a start-up company with an idea or an established company with a defined solution roadmap. The primary focus of your efforts should be directed toward identifying the appropriate business that can materialize either your concept or the POC. The amount of expertise that the data engineers have, as well as the technological foundation they come from, should be the top priorities when selecting a firm. 

Development team 

Getting your development team and the Big Data service provider on the same page is one of the many benefits of forming a partnership with a Big Data service provider. These individuals have to be imaginative and forward-thinking, in a position to comprehend your requirements and to be able to provide even more advantageous choices.

You may be able to assemble the most talented group of people, but the collaboration won’t bear fruit until everyone on the team shares your perspective on the project. After you have determined that the team members’ hard talents meet your criteria, you may find that it is necessary to examine the soft skills that they possess. 

 

Cost and placement considerations 

The geographical location of the organization and the total cost of the project are two other elements that might affect the software development process. For instance, you may decide to go with in-house development services, but keep in mind that these kinds of services are almost usually more expensive.

It’s possible that rather than getting the complete team, you’ll wind up with only two or three engineers who can work within your financial constraints. But why should one pay extra for a lower-quality result? When outsourcing your development team, choose a nation that is located in a time zone that is most convenient for you. 

Feedback 

In today’s business world, feedback is the most important factor in determining which organizations come out on top. Find out what other people think about the firm you’d want to associate with so that you may avoid any unpleasant surprises. Using these online resources will be of great assistance to you in concluding.

 

What role does big data play in businesses across different industries?

Among the most prominent sectors now using big data solutions are the retail and financial sectors, followed by e-commerce, manufacturing, and telecommunications. When it comes to streamlining their operations and better managing their data flow, business owners are increasingly investing in big data solutions. Big data solutions are becoming more popular among vendors as a means of improving supply chain management. 

  • In the financial industry, it can be used to detect fraud, manage risk, and identify new market opportunities.
  • In the retail industry, it can be used to analyze consumer behavior and preferences, leading to more targeted marketing strategies and improved customer experiences.
  • In the manufacturing industry, it can be used to optimize supply chain management and improve operational efficiency.
  • In the energy industry, it can be used to monitor and manage power grids, leading to more reliable and efficient energy distribution.
  • In the transportation industry, it can be used to optimize routes, reduce congestion, and improve safety.


Bottom line to the big data revolution

Big data, which refers to extensive volumes of historical data, facilitates the identification of important patterns and the formation of more sound judgments. Big data is affecting our marketing strategy as well as affecting the way we operate at this point. Big data analytics are being put to use by governments, businesses, research institutions, IT subcontractors, and teams to delve more deeply into the mountains of data and, as a result, come to more informed conclusions.

May 8, 2023

Big data is conventionally understood in terms of its scale. This one-dimensional approach, however, runs the risk of simplifying the complexity of big data. In this blog, we discuss the 10 Vs as metrics to gauge the complexity of big data. 

When we think of “big data,” it is easy to imagine a vast, intangible collection of customer information and relevant data required to grow your business. But the term “big data” isn’t about size – it’s also about the potential to uncover valuable insights by considering a range of other characteristics. In other words, it’s not just about the amount of data we have, but also how we use and analyze it. 

10 vs of big data
10 vs of big data

Volume 

The most obvious feature is the volume that captures the sheer scale of a certain dataset. Consider, for example, 40,000 apps added to the app store each year. Similarly, 1 in 40,000 searches are made over Google every second. 

Big numbers carry the immediate appeal of big data. Whether it is the 2.2 billion active monthly users on Facebook or the 2.2 billion cups of coffee that are consumed in single day, big numbers capture qualities about large swathes of population, conveying insights that can feel universal in their scale.  

As another example, consider the 294 billion emails being sent every day. In comparison, there are 300 billion stars in the Milky Way. Somehow, the largeness of these numbers in a human context can help us make better sense of otherwise unimaginable quantities like the stars in the Milky Way! 

 

Velocity 

In nearly all the examples considered above, velocity of the data was also an important feature. Velocity adds to volume, allowing us to grapple with data as a dynamic quantity. In big data it refers to how quickly data is generated and how fast it moves. It is one of the three Vs of big data, along with volume and variety. Velocity is important for businesses that need their data to be quickly available for making informed decisions. 

 

Variety 

Variety, here, refers to the several types of data that are constantly in circulation and is an integral quality of big data. Different data sets are unstructured. This includes data shared over social media and instant messaging regularly such as videos, audio, and phone recordings. 

Then, there is the 10% semi-structured data in circulation including emails, webpages, zipped files, etc. Lastly, there is the rarity of structured data such as financial transactions. 

Data types are a defining feature of big data as unstructured data needs to be cleaned and structured before it can be used for data analytics. In fact, the availability of clean data is among the top challenges facing data scientists. According to Forbes, most data scientists spend 60% of their time cleaning data.  

 

Variability 

Variability is a measure of the inconsistencies in data and is often confused with variety. To understand variability, let us consider an example. You go to a coffee shop every day and purchase the same latte each day. However, it may smell or taste slightly or significantly different each day.  

This kind of inconsistency in data is an important feature as it places limits on the reproducibility of data. This is particularly relevant in sentiment analysis which is much harder for AI models as compared to humans. Sentiment analysis requires an additional level of input, i.e., context.  

An example of variability in big data can be seen when investigating the amount of time spent on phones daily by diverse groups of people. The data collected from different samples (high school students, college students, and adult full-time employees) can vary, resulting in variability. Another example could be a soda shop offering different blends of soda but having different taste every day, which is variability. 

Variability also accounts for the inconsistent speed at which data is downloaded and stored across various systems, creating a unique experience for customers consuming the same data.  

 

Veracity 

Veracity refers to the reliability of the data source. Numerous factors can contribute to the reliability of the input they provide at a particular time in a particular situation. 

Veracity is particularly important for making data-driven decisions for businesses as reproducibility of patterns relies heavily on the credibility of initial data inputs. 

 

Validity 

Validity pertains to the accuracy of data for its intended use. For example, you may acquire a dataset pertaining to data related to your subject of inquiry, increasing the task of forming a meaningful relationship and inquiry. Registered charity data contact lists 

 

Volatility

Volatility refers to the time considerations placed on a particular data set. It involves considering if data acquired a year ago would be relevant for analysis for predictive modeling today. This is specific to the analyses being performed. Similarly, volatility also means gauging whether a particular data set is historic or not. Usually, data volatility comes under data governance and is assessed by data engineers.  

 

Learn practical data science today!

 

Vulnerability 

Big data is often about consumers. We often overlook the potential harm in sharing our shopping data, but the reality is that it can be used to uncover confidential information about an individual. For instance, Target accurately predicted a teenage girl’s pregnancy before her own parents knew it. To avoid such consequences, it’s important to be mindful of the information we share online. 

 

Visualization  

With a new data visualization tool being released every month or so, visualizing data is key to insightful results. The traditional x-y plot no longer suffices for the kind of complex detailing that goes into categorizations and patterns across various parameters obtained via big data analytics.  

 

Value 

BIG data is nothing if it cannot produce meaningful value. Consider, again, the example of Target using a 16-year-old’s shopping habits to predict her pregnancy. While in this case, it violates privacy, in most other cases, it can generate incredible customer value by bombarding them with the specific product advertisement they require. 

 

Learn about 10 Vs of big data by George Firican

10 Vs of Big Data 

 

Enable smart decision making with big data visualization

The 10 Vs of big data are Volume, Velocity, Variety, Veracity, Variability, Value, Viscosity, Volume growth rate, Volume change rate, and Variance in volume change rate. These are the characteristics of big data and help to understand its complexity.

The skills needed to work with big data involve coding, although the level of knowledge required for coding is not as deep as that of a programmer. Big Data and Data Science are two concepts that play a crucial role in enabling data-driven decision making. 90% of the world’s data has been created in the last two years, providing an incredible amount of data being created daily.

Companies employ data scientists to use data mining and big data to learn more about consumers and their behaviors. Both Data Mining and Big Data Analysis are major elements of data science. 

Small Data, on the other hand, is collected in a more controlled manner,  whereas Big Data refers to data sets that are too large or complex to be processed by traditional data processing applications. 

January 31, 2023

In this blog, we will discuss some of the most recurring big data problems and their proposed solutions for organizations.

The global AI market is projected to grow at a compound annual growth rate (CAGR) of 33% through 2027, drawing upon strength in cloud-computing applications and the rise in connected smart devices. The problem is that algorithms can absorb and perpetuate racial, gender, ethnic, and other social inequalities and deploy them at scale- especially in customer experience and sales environments where AI usage is taking off.

Data specialists realize that AI bias is simply a data quality problem, and AI systems should be subject to this same level of process control as an automobile rolling off an assembly line. AI bias can be solved with robust automated processes around their AI systems to make them more accountable to stakeholders.
 

One of the most challenging difficulties of Big Data is ensuring the safety of these vast stores of information. Oftentimes, businesses are so delving into, archiving, and analyzing their data sets that they neglect to ensure the security of that data until afterward.

Since exposed data repositories might attract malevolent hackers, this is usually not a wise choice. It has been estimated that the average cost to a business due to a stolen record or knowledge breach is $3.71 million. Josh Thill, Founder of Thrive Engine 

 

Read more about data breaches in this blog

 

When trying to choose the most effective instrument for the massive management of information and data storage, which is easier, HBase or Cassandra, as a data storage platform? How does Spark compare to Hadoop MapReduce when it comes to data analytics and storage?

These are concerns for businesses, and sometimes they can’t get the answers they need. Because of this, they frequently go for the wrong technologies and make poor choices. It causes a loss of resources such as time, energy, and manpower.

A company’s data can originate from a wide variety of places, including employee blogs, ERP systems, customer databases, financial reports, emails, presentations, and reports made by the company’s personnel. It may be difficult to compile all this information into usable reports.

Companies frequently overlook this area. Perfect for analysis, reporting, and business intelligence when integrated data is essential. Don Evans, CEO of Crewe Foundation 

Experts forecast that firms will lose $6 trillion to cybercrime by 2021 as data leak is on the increase. Several advanced analytics platforms fall short of protecting crucial data, putting organizations at risk of litigation and undermining consumer confidence. To safeguard the crucial data about your consumers in today’s environment, you need a data platform you can trust.

The best data integration technologies rely on cloud computing so that data is always maintained in a safe and healthy environment. Aimee Howard, Quality Assessor at Aerospheres 

Research says that we, as humans, generate 2.5 quintillion bytes worth of data daily. Quintillion. That’s more than the number of stars in our universe. With this data comes the opportunity to understand human behavior, improve customer experiences, and unlock powerful insights that could never be seen before. 

One of the biggest issues plaguing big data is how to effectively store and process the data. This is especially difficult when it comes to dealing with large numbers of data points. 

  

How it is impacting different industries 

  1. Healthcare industry: Big data is being used to diagnose and treat diseases. Big data is also being used to improve patient care by tracking patient data and analyzing it to find trends and patterns. 
  2. Retail industry: big data is being used to track customer behavior and patterns. This information is used to improve customer service and to target advertising to specific customers.   
  3. Education industry: Big data is being used to track student data and to improve the quality of education. Alaa Negeda, Senior Solution Architect

But we still didn’t conquer big data

 

Major challenges organizations face due to big data

The biggest challenge of big data is that, while many companies have it, they don’t know what to do with it. They need to learn how to filter it properly, differentiate the useful from the useless, and make sense of it.

 

1. Scalability issue will large volume of data

Big data also poses a scalability challenge due to its sheer size. Slowdowns, disruptions, and errors often occur when employees need to be trained to handle large volumes of data. Big data’s vastness also makes it difficult to analyze and interpret, leading to incorrect decisions.  Jonathan Merry, Owner of Bankless Times 

 

2. Managing the vulnerability of big data

One of the biggest problems with big data today is data security. Big data, in its nature, is too big, fast, or complex for normal software systems to handle with traditional methods, and that poses many security issues. Even regular data is constantly vulnerable to cyberattacks and hacking.

There are many ways in which big data security can and should be improved, like with better end-to-end encryption, stronger authentication methods, better data segmenting, etc. Maria Britton, CEO, Trade Show Labs 

 

3. Large amount of data generated

Data growth is another big data challenge of the 21st century due to the volume, variety and velocity of data being generated. The amount of data generated exceeds the ability of businesses to store and process it. This affects different industries in different ways.

For example, to personalize marketing campaigns and improve customer service, retailers collect data about users’ online activities and also use sensors to track their physical movements to better understand their shopping habits.

This requires multiple systems in place to continuously collect, manage, and process data from various sources to analyze consumer behavior and trends. In the healthcare industry, for example, large amounts of data need to be analyzed to make informed decisions about patient care

This makes it difficult for hospitals to provide timely and accurate care. The transportation industry faces a similar challenge. With the advent of self-driving cars, a huge volume of real-time data needs to be processed to ensure that cars are navigating roads safely. This data needs to be stored and analyzed to improve traffic flow and reduce congestion.

 

4. Data poisoning

A more widespread problem in 2022 and will continue to do so in 2023, as machine learning and AI become even more essential. Data poisoning can alter the results of your machine learning or your AI programming and can wreak havoc on your metrics.

To avoid it, data storage should be of utmost importance, as should monitoring the data that are used by your ML or AI programs to make sure it’s reliable and accurate. Kyle MacDonald, Director of Operations, Force by Moji

 

5. Meltdown 

A recent big data problem is the meltdown and CPU vulnerabilities. These vulnerabilities allow attackers to steal computer systems’ sensitive data, including passwords and encryption keys. A possible solution for this problem is to use hardware-based security features, such as Intel’s Software Guard Extensions (SGX) and ARM’s TrustZone, to protect sensitive data.

These technologies allow data to be stored in a secure enclave, which authorized users can only access. By using hardware-based security features, organizations can prevent attackers from accessing sensitive data and ensure the safety of their systems. Boris Jabes CEO and Co-Founder of Census 

Investing in the right software is the only way for businesses to fix their Data Integration issues. Several of the basic methods for integrating data are described below:
 

  • Talend Data Integration
  • Centerprise Data Integrator
  • ArcESB
  • IBM InfoSphere
  • Xplenty
  • Informatica PowerCenter
  • CloverDX
  • Microsoft SQL QlikView  

 

Possible solutions for big data problems 

More companies need data protection; thus, they are hiring cybersecurity experts. Additional measures made for security are encryption of Data Separating Information Controlling who has access to what and where security at the endpoints is being implemented. Continuous security checks use IBM Guardian, one of its security technologies, to keep your data safe.

To solve these roadblocks, organizations must invest in the right technology and personnel to help them effectively manage their big data. Organizations should identify their key performance indicators (KPIs) and use data to measure them.

They should also establish goals, objectives, and metrics related to the KPIs so they can track the progress of their data initiatives.

1. Developing better data management tools

Organizations need to develop effective methods for managing big data. This includes creating systems for tracking and storing data, as well as for analyzing and using that data. 

Companies should develop new data management and analytics tools that can help businesses process and use large amounts of data efficiently. These tools include machine learning algorithms and artificial intelligence platforms that can help identify trends and patterns in datasets for effective data deduplication and compression.

In addition, companies should also consider investing in appropriate big data storage solutions that can accommodate the large volume of data generated, depending on the size and importance of the data. Amey Dharwadker, Staff Machine Learning Engineer at Facebook

 

2. Integrating big data into existing systems

By integrating big data into existing systems, organizations can make it easier to access and use that data. This can improve the way that that data is used, which can lead to improved decision-making. 

 

3. Developing new big data solutions

 To exploit big data to its fullest potential, businesses need to develop new solutions. These solutions can include tools for extracting insights from the data, as well as for processing and analyzing that data. 

Companies are no longer limited by traditional methods of collecting information; they can now tap into huge wellsprings of untapped potential that span multiple sectors and industries. 

This enables them to identify new growth opportunities as well as uncover previously hidden correlations between different types of data. Additionally, it allows them to enhance their existing processes with deeper knowledge about customers’ preferences or operations management decision-making. 

The ability to integrate data from a variety of sources is essential in today’s big data business environment. Companies need solutions that enable them to collect, store, and analyze data quickly and easily. Big data integration solutions provide organizations with the capability to bring together data from multiple sources into a single system for better insights, visibility, and decision-making.

 

4. Integration of big data for process automation

Integrating big data from multiple sources is critical for businesses that want to maximize the value of their investments in technology. By leveraging advanced analytics tools, companies can gain insight into customer behavior and identify new growth opportunities. 

Companies can also use big data integration solutions to automate processes such as customer segmentation, product promotion, risk management, and fraud detection. With the help of these solutions, companies can gain a competitive edge by leveraging their data assets more effectively. Rajesh Namase, Co-Founder and Professional Tech Blogger at TechRT 

 

5. Improve storage methods

One option is to simply improve existing storage methods so that they can handle larger volumes of data. This could involve anything from developing new algorithms to making physical changes to
storage devices themselves.

 

6. Use more efficient processing methods

Another option is to focus on processing data more efficiently so that less storage space is required overall. This could involve anything from using compressed file formats to
investing in faster processors.

 

7. Delete less data  

A third option is for companies to be more selective about which data they keep and which they delete. This could involve implementing better retention policies or investing in tools that help
identify which data sets are most important.

Although there isn’t a silver bullet when it comes to solving this problem, hopefully, one (or more) of these solutions will help alleviate some of the pressure that companies are feeling when it comes to storing big data. Deepak Patel from bloggingko.com 

 

Take proactive measures to resolve big data problems 

This article has discussed the latest problem related to big data in the 21st century and how it is impacting different industries, as well as providing a possible solution for it. Prabhsharan Singh, Full Stack Developer 

By taking proactive measures such as implementing security protocols and being transparent with customers, companies can ensure that they are using the power of big data responsibly and protecting those involved from any potential misuse or abuse. 

December 25, 2022

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