Big Data Industry Predictions for 2023
Welcome to insideBIGDATA’s annual technology predictions round-up! The big data industry has significant inertia moving into 2023. In order to give our valued readers a pulse on important new trends leading into next year, we here at insideBIGDATA heard from all our friends across the vendor ecosystem to get their insights, reflections and predictions for what may be coming. We were very encouraged to hear such exciting perspectives. Even if only half actually come true, Big Data in the next year is destined to be quite an exciting ride. Enjoy!
Multi-Cloud Analytics. There are many reasons why a customer would choose to implement their architecture on multiple clouds whether it’s technology, market, or business-driven. When this happens, many times this leads to transactional and operational data being stored on multiple cloud platforms. The challenge this brings is how to gain insight into these without resorting to implementing multiple disparate data platforms. Historically data virtualization tools have been introduced to solve this style of problem, but it gets challenging when working across cloud environments. We are seeing increased emphasis from vendors on this message (Google’s BigQuery Omni is one example) and expect customer adoption to pick up in order to quickly unlock value across data platforms without having to perform migrations. – Brian Suk, Associate CTO at SADA
Augmentation of data quality, data preparation, metadata management and analytics. While the end result of many data management efforts is to feed advanced analytics and support AI and ML efforts, proper data management itself is pivotal to an organizations’ success. Data is often being called the new oil, because data- and analytics-based insights are constantly propelling business innovation. As organizations accelerate their usage of data, it’s critical for companies to keep a close eye on data governance, data quality and metadata management. Yet, with the growing amount of volume, variety, and velocity of data continues, these various aspects of data management have become too complex to manage at scale. Consider the amount of time data scientists and data engineers spend finding and preparing the data, before they can start utilizing it. That is why augmented data management has recently been embraced by various data management vendors where, with the application of AI, organizations are able to automate many data management tasks. According to some of the top analyst firms, each layer of a data fabric — namely data ingestion, data processing, data orchestration, data governance, etc. should have AI/ML baked into it, to automate each stage of the data management process. In 2023, augmented data management will find strong market traction, helping data management professionals focus on delivering data driven insights rather than being held back with routine administrative tasks. While these are the five most important trends in our mind, there are other areas of data and analytics practice which will shape up how digital business will not only survive but thrive in 2023 and beyond. The last two to three years have definitely taught us that digital business is not really a fall back option when the world cannot meet in person, but that is where the future lies. Hopefully your organization can gain some insights from these article as you lay out your digital business plan. – Angel Viña, CEO and founder of Denodo
Not only will companies rely on analytics to track their productivity, down-time, budget, and performance KPIs, but companies will also solicit new areas to implement analytics for better tracking and precision. As the saying goes, you can’t manage what you can’t measure – and especially in today’s volatile economic climate (e.g. inflation, supply chain, geopolitical tensions), business leaders are increasingly keen to track as many facets of their business as possible so they can do more with less and become more adaptable. I’d predict that companies who already use analytics will be eager to use even more, and companies/industries that haven’t traditionally been as dependent on analytics will jump into the game. – Eddy Azad, CEO, Parsec Automation