The coronavirus pandemic led to a massive acceleration in the digital transformation journey that the businesses were already on. But, analyzing rapidly growing data volumes from a diverse group of data sources presents a considerable challenge, especially for organizations with legacy core infrastructure.
Big Data came with the promise of real-time actionable intelligence, but only now are those promises coming to fruition. Businesses worldwide strive to derive real-time operational insights from big data to provide superior customer experiences, boost profitability, and adhere to regulations.
Thomas LaRock, Head Geek, SolarWinds, says, “Let’s face it, applications run the business—but applications run on data. Since 2006, the industry has been referring to data as the new oil. It gives businesses a competitive advantage, making the need to protect and optimize their performance of the utmost importance to give the highest value back to the business.
Visibility is critical because database performance is often where the experience goes wrong. In 2021, it’s time to double down on database performance management.”
In 2021, businesses will compete to launch new digital services and provide a better user experience by leveraging enterprise data and automating and optimizing data operations to meet the unique business realities.
Actionable data, Cloud Automation, Hybrid Cloud, and Data Privacy, along with the following other trends, are set to alter the tech landscape in 2021 dramatically.
The term actionable data has been thrown around for almost a decade by customer experience, business intelligence, data integration, and analytics. But, 2021 might be the first year Big Data’s potential becomes actionable. Often, the value of data diminishes as time passes, so being able to utilize it closer to creation makes it more valuable.
The IoT, the cloud, Real-time processing, edge computing, and digital channels are now being integrated to make data more actionable, insightful, and useful.
Over the past few years, the cloud has been recognized as a transformational technology. But many enterprises do not feel comfortable putting their data on the cloud for a multitude of reasons, including privacy and security. This is where the Hybrid Cloud plays a significant role.
With hybrid cloud infrastructure, businesses can achieve greater infrastructure efficiency, improved developer productivity, strengthen the security and regulatory compliance systems of the organization, speed up innovation, and speed up a product’s time-to-market. Overall, it creates a more holistic network.
Augmented Data Management
Augmented data management will see a rise in importance within organizations as AI becomes more productive with enterprise information management categories. It includes metadata management, data quality, and master data management. This denotes that manual data management tasks will be minimized.
However, organizations looking to utilize this innovative technology need to review the available data analytics and augmented data management tools in the market that best fits their business operations. This way, such solutions can be appropriately integrated into the business processes to properly harness the big data.
Data and Analytics
Integrating operational data and analytics, results in the faster data processing. It helps accelerate actionable insights and response times for time-sensitive applications such as real-time fraud and risk analysis, hyper-personalized recommendations, dynamic pricing, business process optimization, and predictive maintenance.
Analytics and business intelligence vendors are now increasingly adding data management capabilities, and data management vendors are now adding data prep. The industry will see more such convergence in the near future.
Data Privacy and Governance
News reports of data leakages have now made the public more concerned about their online privacy. In 2021 more countries may start adopting regulations similar to the California Consumer Privacy Act (CCPA) and Europe’s General Data Protection Regulation (GDPR). Organizations now need to take stringent measures concerning data governance and data privacy in their data analytics infrastructure.
Peter Jackson, the CEO of Bluescape, says, “In the coming year, we can expect that more data will be generated, collected, and harnessed than ever before. Part of this is a natural evolution as more and more connected devices go online every year, but the pandemic prompted an even greater wave of digital activity that will continue into 2021.”
“The spike in digital activity also resulted in a spike in cyberattacks. For the first time, many consumers felt the effects of bad actors firsthand, demonstrated by “Zoom bombing” and other malicious affronts. As a result, the awareness around data privacy and security has never been higher”, he adds.
As we enter the new year, enterprises will soon realize that data privacy and governance cannot be achieved with separate standalone tools; It needs to be implemented as an integral part of the analytics infrastructure.