Big Data: The Trend You Should Join

There have been significant changes within the technology sector over the last year as more and more companies of all sizes have awakened to the importance of data as a driver of development, discovery and, above all, increased profits. Understand the data in enterprise silos, understand if it can be extracted and used, and if so, how Data can be extracted and used most effectively, leading to a fundamental reassessment of the nature of corporate assets and the development of strong data usage trends.

Big Data London Conference Kickoff September 21st^st, conference chair Mike Ferguson briefly summarized some of the big data trends that are helping companies move the needle around data, especially data sharing, to transform the way companies operate. These are the trends that will help define a “work data richer, harder” approach to business that is likely to transform the business landscape in the next five years.

I’m not saying your business will surely fail or struggle if you don’t jump on these trends. The companies that make the most effective use of their data are most likely to have the power to find more and better business opportunities in an increasingly tough and low-margin economy.

And now the headlines…

Some of the headline trends Ferguson perceives to be important right now may look familiar, but some will raise eyebrows.

• He raised the importance of continued adoption of multi-cloud solutions to the data problem, but also noted the growing backlash against rising costs. “CFOs are starting to scream for full cost visibility when it comes to multi-cloud projects,” he said at the conference. This is set to become an increasingly difficult negotiating environment over the next 12-18 months, with technologists looking to make such multi-cloud decisions not only in terms of business benefits, but also in terms of actual end-expenditure. You need to justify spending on your project.
• Ferguson says both data management platforms and data governance are trending. Not surprisingly, the amount of data companies collect is growing exponentially, especially when it comes to unstructured data.While it’s important to understand that Ferguson didn’t explicitly mention this, this growing trend suggests companies without it By this time in 2023, data management platforms are likely to become more stagnant and data governance issues mount up. Acting on data management and governance sooner or later makes sense and can help make the transition more manageable. You’re probably right, but as technology and the data landscape each improve and expand, the problem of data management will only intensify.

Reduce latency and enhance data democracy

• Ferguson noted that there is a growing demand for data with significantly reduced latency. This could lead the market to move towards automated data classification engines in the next few years. This speeds up a process where human-factor delays have always hampered delivery.
• He also said at the conference that there is a growing demand for democratization of the data and analytics sector. “There is a growing desire to share and reuse analytics products such as machine learning,” he said.

• One of the most fundamental paradigm shifts Ferguson identified for Big Data London representatives was the pervasive data hunger. “The thirst for data and insights probably started in corporate finance departments,” he explained. every day Departments want data and insights, and every department wants data to dominate the competition.The question is how obtain You need to get that data and those insights at a time when your data landscape is becoming more and more complex: data on different clouds, data on software platforms as different systems. “
• He said this was made especially complicated by the lack of industry standards that companies had to follow and could seek guidance on when it came to sharing and integrating data between data catalogs. As such, he predicts that data catalog automation will evolve further, extending not only to the already common search and output capabilities, but also to automatic classification of data. This would be a big step forward (at least it works with human reliability and consistency).

• Ferguson predicts that IT departments will need to fundamentally change their mandate as data becomes a more central focus in all parts of the business. With the paradigm shift for business on the go, there is a real need to more effectively manage the flow and management of data from system to system, office to office, cloud to cloud, and catalog to catalog. increase.

always-on business

• And finally, to set the tone for the two-day event and show attendees a path to making effective connections, he asked them to introduce a new, more software developer-style approach to data and analytics. I asked what the impact would be.
• Attendees will be steered in one way or another depending on the weight they give to future presentations at the event, but I think it’s important for businesses to consider their data-driven digital transformation as an “always-on AI business” – practically flawless and data-driven. A rich, profitable, value-providing, and less redundant business that will be the core of the next generation of enterprises.