When coming through those predictions online, users might notice that most of them describe blockchain trends to expect by 2030. Why this year? Since the explosion of new crypto companies in 2018-2019, it seems logical for researchers and enterprises to develop a view of future uses of blockchain a decade ahead.

Blockchain technology is not only about the finance industry today: Artificial intelligence, games, medicine, and education are also exploring how to leverage it to their benefit.

Thus, Deutsche Bank expects 200 million bitcoin users in the public sector by 2030. No wonder: People start using cryptocurrencies daily, and even the Covid-19 outbreak couldn't scare and stop them. Moreover, cryptocurrencies like Bitcoin performed well during the pandemic compared to the financial markets.

Analysts also predict the rise of cryptocurrencies‘ value to $3.1 trillion by 2030, three times more than the current $980 billion market cap. So, the transformation is inevitable, and it will be as follows, given today's blockchain advances:

Collaboration with IoT (Internet of Things)

With more than 20 billion IoT devices on the market, their pervasive use requires continual connection to the internet, massive data transportation, and data collection and storage. In 2019, there were already 20% of all IoT deployments with the basic levels of enabled blockchain services, and their number will only grow.

Blockchain provides a reliable and efficient mechanism for IoT devices to make transactions. Whether a chip or appliance, the technology maintains a record of all interactions and enables instant payment settlements, leading to automated insurance policy applications.

Using blockchain in IoT can reduce costs and the risk of tampering, build trust between enterprises, and accelerate transactions. Integration with blockchain brings a secure and scalable framework for effective communication between IoT devices.

The rise of NFT (non-fungible tokens)

The latest application of blockchain technology, verging on a frenzy, saw the light in 2021 and was more about the art at first: Every second artist created and then sold digital tokens for cryptocurrency, therefore providing their works with copyright yet accessibility.

NFTs are anything digital: photos, drawings, personal narratives, music, or graphics a person creates with tools. Most tokens are part of the Ethereum blockchain, though others have also implemented their versions of NFTs, keeping track of who holds and trades tokens on the market.

Now NFTs go far beyond the artwork: Sports, gaming, and fashion – the concept transforms most industries where digital works can take place. For example, international giants like Dolce & Gabbana or Nike regularly launch tokens for their clothes and footwear. More than that, it begins transforming sectors like real estate: In 2021, TechCrunch founder's Kyiv apartment became the first NFT in the niche.

PoS domination for a cleaner future

Blockchain technology usage harms the environment, demanding high energy consumption and thus leaving a high carbon footprint. This argument was the main one for Elon Musk to stop selling his Tesla cars for Bitcoins, but things seem to change now.

2022 becomes the year of ever-rising consciousness about making blockchain technology greener and cleaner:

Ethereum is the first to switch from the Proof-of-work to the Proof-of-stake (PoS) consensus mechanism to reduce the harmful impact of blockchain on the planet. The field also expects to start using renewable energy sources: It will reduce hardware costs and the large electricity consumption, making blockchain more eco-friendly and thus attracting more miners to the community.

Governmental use of cryptocurrencies

Given that cryptocurrency usage is growing, governments can't keep watching from the sidelines but find a way to implement blockchain in their economic landscapes.

Some countries like China and Venezuela have already digitalized national currencies, now regulating price-stable tokens by monetary policies and backing them with collateral. Analysts predict they will grow in popularity as they become more reliable for exchange. Countries unwilling to craft new cryptocurrency as their national legal tender will think of using their stablecoins instead. It will enable governments to benefit from transaction transparency and enhanced security, declining financial fraud.

Blockchain in Metaverses

Tech giants like Facebook and Microsoft have already invested resources in Metaverse, which is a virtual version of the real world. Using blockchain in such environments can lead to enhanced transparency and provide users with easier access to all core attributes: a fully functioning economy, 3D spaces rendered in real-time, user-generated content and experience, etc.

Blockchain and crypto tech niche doesn't stop expanding, playing a revolutionary role in boosting areas like finance, trade, education, healthcare, safety, and digital identification. By 2030, it will likely become an integral part of countries' ecosystems and leverage in their everyday lives, creating economic growth and improving standards based on trust and transparency.

The post How Blockchain Will Transform the Market by 2030 appeared first on Datafloq.

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• Stuart Williams, President, ICE Futures Europe, Intercontinental Exchange
• Alessandro Liberati, Global Head of Crude Oil Trading, BB Energy Trading

Key discussion points, providing you with unrivalled market insights:'

• Hear about the short and long-term impacts of negative oil price trading, retro-active pricing and future pricing on energy producers, traders and buyers
• Debate current challenges and opportunities for energy market stakeholders and traders
• Learn how price discovery and transparency are affecting the market
• Hear insights on how the energy market be reshaped in 2020 and beyond

Can't join live? Register now to get access to the recordings

Furthermore, all webinar registrants will be eligible for a free pass to the inaugural Reuters Events Commodity Trading Summit (November 9 – 10, Online).'

Reuters Events exists to deliver the intelligence and foster the relationships that shape strategy and safeguard success at leading companies worldwide.'

###'

If you would like more information on Reuters Events Commodities, the Commodity Trading Summit or the webinar, please contact Kathryn Bloxham at kathryn.bloxham@thomsonreuters.com.

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One of the biggest reasons for this is the fact that when tech companies make outlandish statements, few people believe them. Back in the 1970s, people like Steve Wozniak and Paul Allen were predicting a future where everyone had personal computers on their desks. Very few financial analysts believed that this was actually possible.

The digital revolution happened, and those who foresaw it ended up in almost total control of it. Today, the same thing is going once again and many in the media aren't fully aware of what's at stake as a result.

Consider the example of software monocultures that are plaguing almost every industry.

Software Monocultures & the Lack of Alternatives

In some markets, a single firm controls every option that users have available to them. Desktop and laptop computers have long been dominated solely by the Windows platform, which has allowed certain cyberattacks to take down huge subsections of the general population.

The same problem is now affecting web hosting control panels. Plesk and cPanel are the two dominant names in the industry, and they control a massive 98.4 percent market share between the two of them. To make matters worse, they're now both controlled by a single company.

While some webmasters have started to look for free and open-source alternatives, it seems like a majority are happy to continue to use the big players in spite of what they could be sacrificing in terms of privacy and security.

Even in use cases that don't involve major privacy impacts, monopolies have caused serious problems that are sometimes flat out silly. In some cases, companies are out for money and don't want anyone to know about it.

License Griefers & Patent Trolls

While the exFAT file system originally came out in 2006, it wasn't until 2019 that a free kernel module was available for developers. This is in spite of the fact that the system is a standard used by the SD Card Association for all memory devices bigger than 64 GB.

Companies that wanted to provide native support either had to reverse engineer the standard or pay a license fee. Samsung tried the first method, which doesn't always work. Large firms like Apple, however, paid a fee and kept the cycle spinning around.

There's currently no single file system that supports the Windows, Macintosh, GNU/Linux, iOS and Android platforms equally that allows free transfer of files in excess of 4GB. It's shocking to think that as we approach 2020 it's still hard to share data between devices.

This isn't a technology issue, however. It's due to the fact that major tech monopolies don't want to allow users access to precious patents.

Some politicians have demanded the breakup of larger tech firms, but that hasn't stopped Amazon from promoting private label brands in a way that hurts small businesses.

In fact, it looks like these firms will continue engaging in non-competitive business practices for the foreseeable future.

Stifling Competition in a Virtual World

Pundits have called for Washington insiders to impose existing antitrust laws on companies that continue to behave in this way. While people from all sides of the political spectrum have commented on potential action, it's unlikely anything will get done.

After all, many of these politicians rely on contributions from large companies that profit by unfairly manipulating online resources. Since they have such massive financial backing, many companies can simply flat out buy any new competitors before they get any chance of really having an impact on the industry.

Fortunately, some people have taken the issue into their own hands. Blockchain technology, for instance, has encouraged the decentralization of certain online business processes.

Many people have also installed open-source operating systems that compete with those sold by the largest vendors. Still, this has little impact on the way that eCommerce giants like Amazon can push smaller firms out of business until only they remain.

Additional regulation is also a potentially frightening idea. Governmental authorities could just as easily act the same way as larger technology firms, but they'd have even less oversight since they're technically the organizations blessed with the job of policing other groups.

In the meantime, it might be best for users to force change on their own by using alternative solutions.

The post The Increasing Problem of Monopolies in the Technology Sector appeared first on Datafloq.

While the IoT has had a profound influence on the lives of consumers and daily operations of businesses, it has also faced some scalability challenges. The biggest hurdle has been ensuring compatibility between various devices. Some IoT devices are not designed to go together. However, they may have supplemental features that could make them ideal partners in an age of globally connected digital devices.

This problem is addressed with IoT middleware. Middleware is an application that bridges the connection between two otherwise unrelated IoT devices. The development of middleware has improved the scalability of IoT development. The paper Middleware technologies for a cloud of things: a survey delves into these issues in detail.

However, IoT developers have faced some logistical issues deploying middleware technology. These issues are rapidly being resolved, largely due to improvements in cloud technology. The cloud has provided several benefits for middleware applications:

• Middleware applications consume a substantial amount of memory. Without a large, easily accessible storage space to access these applications, IoT developers would not be able to use them to connect as many devices. This would bottleneck growth for IoT connectivity and limit uses in large organizations.
• Without the cloud, devices would need to be synced with middleware applications on the same intranet connection. There are some scenarios where this would be feasible. However, the Internet of Things is made up of billions of devices that are randomly geographically dispersed across thousands of miles.
• Advances in cloud technology have provided an extra hub for cybersecurity protection. This can help reduce the risks of IoT devices being hacked, which is a growing concern.

Future advances in cloud computing are likely to further stimulate the market for IoT middleware.

Outlook for IoT middleware market over the next few years

The benefits of IoT middleware cannot be overstated. Sceptics might be tempted to dismiss news reports about market growth as the hype. A recent analysis by the Trusted IoT Alliance suggests otherwise. The authors predict that the market for IoT middleware will exceed $18 billion by 2024.

As the market for IoT middleware grows, its impact is becoming clearer. There are countless ways that IoT devices are going to transform our world, which is facilitated by middleware. Here are some key examples.

The emergence of driverless cars

The development of driverless cars is possibly the most significant development in the Internet of Things. Driverless cars rely on in-built sensors that communicate with a central cloud database. They need to communicate with a central cloud database. They must process input from signs, vehicles, obstacles and weather patterns to understand driving conditions and the geographical layout of the roads they use. The safety of the drivers depends on the algorithms processing this data with a very high level of precision. Easily accessible cloud databases and middleware technology make this easier.

A new generation of smart manufacturing facilities

There are also many changes brought by the Internet of Things in manufacturing. Numerous factory machines that have not been historically physically connected, now link through the Internet of Things.

This is streamlining production in unanticipated ways. Higher efficiency should drive down prices in the near future, as the IoT lowers costs.

Cloud Technology and Middleware Drive New Developments of the IoT

The IoT will continue undergoing a rapid transformation in the coming years. These changes are largely being driven by new middleware technology, which would not have been possible without improvements in cloud computing.

The post Cloud Computing Advances to Create $19 Billion IoT Middleware Market by 2024 appeared first on Datafloq.

Very soon, we are going to live in a world where AI is not just a prerogative of a small selection of high-profile tasks, but where it permeates every nook and cranny of our lives. And, of course, the job market will be the first to feel the consequences of this great AI democratization. In this article, we will cover five most likely changes that are supposed to happen (and already do happen) in the nearest future.

1. Companies are going to recruit data specialists from non-traditional locations

One of the main limiting factors precluding AI research to develop faster is the lack of specialists. Although it is already one of the most prestigious industries in the world and people are eager to get a relevant degree, the talent pool just isn't big enough to satisfy the ever-growing demand. However, one of the reasons of it is that most businesses leave a lot of potential untapped and keep on fighting for the small pool of existing specialists and new graduates of the universities located in developed countries.

Nevertheless, some of the companies already move in the right direction, spreading educational programs in places like Nepal and Rwanda to get access to talented people from there and give them the necessary knowledge to pursue careers in this industry. Therefore, in the near future, we are likely to see a sizable influx of such specialists into the job market, somewhat sating the world's need for data specialists.

2. Job market landscape will undergo a major upheaval

Many people express quite legitimate fears of their jobs becoming obsolete with the emergence and perfection of AI. According to PwC study, no less than 38 percent of jobs in the US are at risk of being fully replaced with AI over the next 15 years.

However, concentrating on potential losses is wrong, for technology always both displaces and creates new jobs. Take a look at assembly lines when they first appear workers all over the world were afraid of becoming obsolete, yet the economy didn't collapse. People had to adapt, but it is quite different from apocalyptic predictions of the time.

What everybody has to do in this situation is to take a closer look at one's industry and concentrate on the areas that require human element. Study. Improve one's understanding of the underlying principles and increase one's qualification. Or find an opportunity in one of the openings created by this upheaval which naturally leads us to the next point.

3. Data science is going to become more accessible for non-specialists

Another way to deal with the lack of specialists in AI and data science is to make the tools of the trade more accessible for those without 4 years of education in the relevant field. And it is already happening the appearance of self-service analytics powered by AI that allows people with relatively little understanding of the inner workings to successfully run their own analysis is already changing the way things work. Recent Gartner report even predicts that by 2019 self-service analytics will overtake the amount of work done by data scientists which is certainly a thing to consider when thinking about what skills you have to develop to stay current in this changing world.

4. Job location will change

For generations, most people have been used to the idea of working in places specifically prepared for that purpose. They were used to dividing their life into working and personal hours, the former spent in the office (factory, workshop, etc.), the latter where they preferred to spend them. The emergence of AI is likely to change this balance. The number of people working remotely was steadily increasing over the last few decades, but AI signifies a new and huge step forward in the evolution of the workplace. It is more than likely that the workplace of the future isn't going to be confined by the age-old presumptions like regular work hours or places, and most people will gain a far higher degree of control over when and where they work.

5. A new set of basic skills will emerge

For generations, the set of basic skills needed for employment in most jobs didn't change: reading, writing and arithmetic. However, the emergence of AIis going to change that, so people will need an additional set that can be broadly named as data skills. Even now, the basic knowledge of coding and data science greatly improves one's chances of successful employment and the likelihood of getting a prestigious job. In the near future, these skills will change from useful add-ons to necessary prerequisites for most positions, and those willing to meet the future head-on should take it into account when deciding upon what courses they are going to take.

It is obvious that after AI becomes fully democratized the nature of the work market will be completely different from what it is now. However, the change is not limited to negatives like some jobs getting obsolete for it opens up many new opportunities. The only thing you need is the readiness to embrace them.

The post The Democratisation of AI: 5 Changes We Should Expect in the Job Market appeared first on Datafloq.

Will blockchain finally make its mark in 2019? While blockchain technology is still hurtling forward at an impressive pace and will make large gains in 2019, it still has some way to go before it's universally accepted.

Businesses are embracing blockchain

If you're trying to determine the future of blockchain, it's worthwhile to start by analyzing its current strengths. By far the primary engine of blockchain's growth over the past few years has been the widespread embrace of the technology by businesses everywhere, which has proven it has long-term potential and driven impressive investment levels ever higher. There are a few reasons to believe that spending on blockchain related services will slow down anytime soon, too.

After all, some predictions are already positing that blockchain spending will reach nearly $12 billion as early as 2022. While blockchain was a relatively obscure name in the marketplace just a few years ago, it's since developed an impressive reputation for itself that's warranted increased investment by businesses of all shapes and sizes. Corporations and mom and pop shops alike have been probing blockchain's potential, trying to see if it's worthy of their time and attention in a disruptive marketplace where many innovations promise a lot but deliver little.

Perhaps the reason some are so ambitious about blockchain and how it will fare in 2019 is that the technology is so varied in its applications. Many of blockchain's proponents argue that it can be applied to virtually any industry, with behemoths like IBM investing in it while small-time entrepreneurs exploit it to make a better living for themselves. It was recently speculated that blockchain could become an essential tool for aspiring musicians trying to sell their art to fans, for instance.

There are still plenty of reasons to be sceptical that 2019 will finally be the year that blockchain makes its huge mark on the economy. Despite the fact that spending is still ticking upwards and that some businesses are embracing blockchain, the technology is still advancing in fits and starts that haven't yet convinced all investors of its potential.

Blockchain could be overpromising

The biggest reason that critics continue to dismiss blockchain as being overhyped is that they feel the technology is substantially overpromising and underdelivering. The market has been inundated with a myriad of arguments centred around how blockchain would soon radically transform our everyday lives, so the fact that the technology is still in its infancy has led many to dismiss predictions about its eventual dominance.

Critics aren't the only ones arguing that blockchain could be getting eyes that are bigger than its stomach, either; even some investors and IT professionals working in blockchain services, such as payday loan lenders, are worried that they'll burn out the energy driving this innovation forward if they overpromise to the public. When it comes to how blockchain will disrupt contemporary logistics operations, for instance, some professionals are warning that we should be cautious about buying into the revolutionary nature of this technology.

These criticisms are entirely warranted, and they won't be disappearing anytime soon. Similarly, the fact that some investors in certain areas are increasingly interested in blockchain doesn't mean that everyone everywhere will begin pouring money into blockchain initiatives. Exciting new technologies like cryptocurrencies are full of immense potential, but many dismiss them as being unrealistic and far too volatile to get involved with seriously. Thus, you can expect blockchain to keep sailing into fierce headwinds for the foreseeable future.

That doesn't mean that blockchain is worthless, nor that investors and businesses will abandon investing in blockchain based services as a fruitless endeavour. When it comes to fundamentally reshaping the market and making the mark that its proponents keep expecting, however, 2019 may not yet be the year of blockchain.

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In a classic bull market, there are four phases: stealth phase, awareness phase, mania phase and blow off phase. In the first years of cryptocurrencies, it clearly was a stealth phase. Let's say from the beginning in 2009 until the start of 2017, when the total market cap of cryptocurrencies increased from $ 0 to $ 18 billion.

Then the awareness phase started, with increasingly cryptocurrencies getting more attention in the media. This awareness phase typically ends with the first bear trap and this bear trap started end of August when the market cap dropped from $148 billion to $ 124 billion in less than three weeks.

The third phase is the mania phase, where FOMO (Fear of Missing Out) explodes and people go crazy. This results in examples such a family that sells all their possessions, live in a tent to hopefully make a profit with cryptocurrencies (oh boy I feel sorry for their kids now).

This phase starts when media attention explodes and all of a sudden everyone wants to get in. It started somewhere mid-October 2017 and finished on January 8, 2018. It reminds me of the story of Joseph Kennedy, a famous businessman in 1929 who was offered a tip by a shoeshine boy to buy Hindenburg stock:

You know it's time to sell when shoeshine boys give you stock tips. This bull market is over.” – Joseph Kennedy

The same applied to the cryptocurrency market; when all of a sudden everyone is an expert on cryptocurrencies, which are an inherently difficult to understand concept even if you understand them; the bull market is over.

There we have it, we have reached the fourth and final phase of the bull market; the blow off phase. It starts with a bull trap, which is the first sell-off, starting January 9 until January 18. After a return to normal', when the market climbed back from $427 billion to $632 billion, we have now started the three phases of fear, capitulation and despair, where we could, possibly, return to a market cap the same size as at the start of the awareness phase. For your information, I do not believe we have reached the capitulation phase and there is more to come in the coming weeks. Even a Google Trends search on cryptocurrency and Bitcoin show the same trend:

However, a crash of the crypto market is not necessarily a bad thing. A market where we see 4000% profits in six weeks (for example Cardano) is not a very realistic market and has all the characteristics of a traditional bubble. Such a market behaves unrealistically, with all its consequences. One being that it attracts opportunists and criminals that want to make a quick buck.

After we reach the end of the despair phase, we can return to the mean and actually start building a new decentralised society. We will get rid of the scams – if not due to regulations then to the fact that there is no longer the possibility of a 4000% profit in 6 weeks and we can focus on the potential cryptocurrencies have for building a better society.

After all, the technology is still in its infancy and it still requires a tremendous amount of investment in time, energy and resources before we have a truly decentralised society and economy. However, cryptocurrencies and the underlying technology of blockchain (or distributed ledgers) do have the potential to build a better world for all and I am happy to be part of it.

The post Why the Current Crash in the Crypto Market is Good for Cryptocurrencies appeared first on Datafloq.

The meaning behind Big Data

The amount of digital data is growing every year. According to IBS the total number of data stored in 2015 is more than 6,5 zettabytes and is constantly growing. These huge masses of data are called Big Data. In Russia, we can add the tools for its analysis to the term, but the main idea stays untouched. Only 1,5% of this data is actually useful and we need to have great analytics to depict the information needed from the whole data pool.

Big Data over the world

Nowadays the USA is the pioneer of Big Data practices with the majority of companies being at least interested in the subject. In 2014, according to IDC, more countries began to look into the data corner. Europe, Asia (excluding Japan) and Africa took 45% share of big data software and hardware.

Where Big Data is used

The usage of Big Data is wide. With clever usage of data analytics, you can find out the effectiveness of marketing campaigns, calculate the risks or know more about your clients' wishes.

According to the Tech Pro research survey, Big Data is mostly used in telecommunication, engineering, healthcare, IT, finance and public sectors.

Big Data in Russia in numbers

In global terms, the Russian big data market is rather small. In 2014 the American company IDC evaluated it for $340 million. Still, it grows faster than on global market, at least on 40% more.

The Russian Big Data market has only started. Not every industry is using big data analytics in their work, but we can see lots of big data projects in banking, telecom, retail and e-commerce companies.

In digital companies, big data is also a hot topic. In Heads and Hands, for example, we deal with data-driven services on an everyday basis while developing our apps and web services.

Main drivers of big data market development are

• High interest towards big data from users who want to use it to increase the competitiveness of the company
• Global development of media files methods processing
• Transfer of personal data processing servers to Russia due to new laws about storing and working with data
• Localisation
• Using Russian cloud services providers due to currency exchange rate fluctuations
• Creation of technoparks to develop the IT market, including Big Data

Main sentinels of big data market development in Russia are

• Data security and confidentiality maintenance
• Lack of qualified human resources
• Lack of big data IT resources in Russian companies
• Complexity of new technologies implementation
• High costs of big data technology
• Political and economical fluctuations
• Higher costs on import items and inflation

Russian Industries working with Big Data

Big Data is widely spread across different industries. It is used in healthcare, telecommunications, retail, logistics, finance and public sectors. For example, most of Yandex products are based on big data analytics. This year, the company even announced the creation of Yandex Data Factory that works with data processing for enterprises.

According to CNews, in Russia, only 10% of the companies began to work with big data technologies (the global number is 30%).

Now its time to move on to the real examples of big data usage in Russia.

Telecommunications

Telecommunication companies have the most high-loaded databases which give them the opportunity to perform detailed analysis of the data stored. One of the places to use big data technology is managing the loyalty of customers.

The main goal of data analytics is to save current customers and find new ones. Companies use client segmentation, analyze traffic data, or find out the social media data. Big data in telecommunication is used for marketing goals and prevention of finance fraud.

One of the most interesting examples of the telecom operators using Big Data is Vimpelcom (Beeline). The company is using big data to increase the quality of corporate service for every client, to create reports, analyze data to develop the network, fight spam and personalize their services.

Finance and banking

A large percentage of big data users are specialists in the finance industry. One example of working with data was done in one of the Ural Banks, where databases were used to analyse clients behavior. The bank began to offer credit specials, deposits and other services based on this analysis. After a year of big data usage, the retail loan portfolio increased by 55%.

Alfa-bank also analyses the information from social networks and monitors customer behavior on their corporate website. Sberbank uses big data to segment its clients base and it also plans to analyse clients behavior in real time in the future. Tinkoff bank, on the other hand, works with risk management and analyses the needs of its clients with big data instruments. Data is also used in scoring, marketing and sales.

Retail

In Russia, retail companies implemented big data in online and offline sales. Nowadays, according to CNews, big data is used by 20% of retailers. Moreover, 75% of the Russian retail market is positive about using data to increase the competitiveness of brands. Research showed that thanks to the implementation of big data projects, profit of retail organisation will increase up to 10%.

One of the first offline retailers that used big data analysis is Lenta chain. With the help of big data, the retailer began to monitor customer information from their register receipts. The company gathers information to create behavior models to make the commercial decisions.

Oil and gas industry

Thanks to big data, this industry can perform better fossil fuels extraction. Companies analyse the process of extraction and find out the most effective ones, monitor the drilling process and analyse the quality of materials. In Russia there are two major companies that are using big data already: Transneft and Rosneft.

Public sector

In other countries, big data technologies are used to find solutions to the challenges of national scale. It helps the public sector to provide its services more effectively and to give personalised social support.

In Russia, we can see the huge potential of projects based on big data. Right now its used in the Federal Tax Service, in Medical Care Insurance Fund and in the Pension Fund. Using data to achieve the public goals is important to raise the standard of living in the country.

Transportation services and logistics

Big Data is also used by transportation services to analyse fuel expenses and monitor clients inquires. The Russian railways implemented big data technologies in partnership with SAP and it helped to reduce the reports preparation time by 43,5 times.

Data-driven mobile applications

Finally, in mobile applications, big data technologies are also widely spread. In banking, its common to use big data in inner applications to perform analysis of inner processes. In healthcare to store the medical history of the patient and to analyse the quality of service. In apps for goods delivery, big data is used to analyse the customer behavior and plan marketing campaigns.

The Future

As for today, the big data market is still not so popular in Russia as it is in many different countries. Many Russian companies are interested in the technology but are not ready to use it. Analysts, however, have a rather optimistic prognosis of the Russian market. IDC thinks that the Russian share will increase in the next 5 years. In 2020, the big data market will reach the 2,2% of global data volume and the amount of information will also increase together with demand on this technology.

The post Five Ways How Big Data is Applied in Russia appeared first on Datafloq.