Data Management will remain a differentiating business practice over the next several decades. Business competitors will be forced to contend with each other based on their Data Management strategies when all other strategic advantages are exhausted. The rise, growth, and tremendous potential of advanced data technologies have now rendered Data Management one of the most formidable business differentiators.
General Data Management Trends in 2020
These key Data Management trends have been collated from a cross-section of industry watchers:
- According to IDC, 90 percent of large organizations will be engaged in revenue generation from Data-as-a-Service (DaaS) in 2020. With high-speed cloud service providers, this DaaS will be available to a larger use base.
- With many instances of data security breaches in technology companies, businesses across the globe will be more serious about data privacy and security in 2020. EU’s General Data Protection Regulation (GDPR) was the first step in that direction — spearheading worldwide data protection debates across national boundaries. Companies like Dell and Cisco may even lead a “renaissance” in digital privacy.
- XaaS indicates a step forward in the managed services era by offering any and every service as an outsourced service. Though this trend seemed like a distant dream in 2019, it may become a reality in 2020.
- Advanced technologies like edge computing, machine learning, and AR may collectively enrich the customer experience across core industry sectors through sophisticated techniques in conversational AI and gesture analysis.
- By 2020, more than more than 40 percent of data-based tasks will be automated. This trend will yield higher productivity and more democracy among the data user community.
- Data Management for marketers will continue to remain a challenge in 2020. While Data Management systems continually evolve and become smarter, marketers will begin to collect sound and video data — “data that is intentionally and proactively directly shared by the consumer.”
- Master Data Management (MDM) will be more adapted for the cloud, where data integration, Data Modeling, and single view of master data are easier to manage. As data distribution cross multiple channels and multiple types of networks, CIOs may be more interested in finding solutions that provide enhanced MDM for better Data Governance and security.
- According to Datanami, the worldwide enterprise search market will grow to $5 billion next year, as businesses seek time-saving solutions that have moved beyond simple keywords and metadata filtering to more sophisticated search solutions for multi-source data types and formats.
- In Big Data’s future growth challenges, you will find that while Big Data has been considered a panacea for all Data Management woes, it is interesting to explore how this wonder technology is faring in the smart world of AI and ML.
Data Management Trends in 2019 describes how the hot trends of a few months ago are slowly making way for the new trends forecast to dominate 2020. In the long tussle for managing data versus managing analytics capabilities, some important issues like data security and Data Governance very often get overlooked.
The Trends in Data Management Report discusses a number of on-going and growing trends throughout the industry.
Data Management Trends in 2020 for Business Analytics
According to market watchers, these top trends will revolutionize business analytics in the next five years, beginning 2020:
- IoT Devices: By 2020, more than 20 billion IoT devices will be active on the techosphere. This indicates a need for the appropriate infrastructural capabilities for real-time analytics near the devices to avoid data transfer and latency issues.
- Master Data Management: Enterprises in a haste to find the right analytics solution for individual needs balanced by the need for higher integration quality, governance, security, MDM, and so on. Augmented analytics seems to be the only answer to all these problems. Thus, the top market watchers all agree that 2020 will witness the success of augmented analysis as a key differentiator in analytics and BI platforms.
- Augmented Data Management: This new science converts metadata from passive auditing and reporting systems to active driver of AI or ML systems.
- Augmented Analytics: In next generation analytics platforms, advanced ML techniques will be used to completely control the analytics process from development to consumption. Analytics vendors may compete on this technology in 2020. The augmented analytics market has been projected to grow by about $18.4 billion globally.
- Explainable AI: In many cases, AI models face severe limitations when a decision or prescribed action has to be “justified” with reasoning. To make these models more worthy of human trust, the justification logic has to be built into the models, so that the models can “explain” the reasons behind their decisions. One great application of explainable AI may be forensic science, where decisions based on evidence has to be clearly justified.
- Continuous Intelligence: This technology enables “real-time analytics” as an integral part of any business operation, processing both “live” and “dead” data concurrently to prescribe future actions. Gartner predicts that by 2022, over 50 percent of emerging business systems will offer continuous intelligence.
Rita Sallam, Vice President of Research at Gartner, made some strong observations at a recent summit, including:
“Data and analytics leaders must examine the potential business impact of these trends and adjust business models and operations accordingly, or risk losing competitive advantage to those who do. The story of data and analytics keeps evolving, from supporting internal decision-making to continuous intelligence, information products and appointing chief data officers. It’s critical to gain a deeper understanding of the technology trends fueling that evolving story and prioritize them based on business value.”
Data Management Trends in 2020 for Data Centers
From 2015 to 2016, enterprise revenues for both Infrastructure-as-a Service (IaaS) and Platform-as-a-Service (PaaS) increased by 53 percent. This trend indicates that businesses of all shapes and sizes are moving from on-premise to hosted data centers to reduce cost and increase profits. Moreover, the sudden growth of IoT devices and streaming analytics has propelled the need for IoT-specific solution providers. Additional Data Management trends include:
- The phenomenal growth of the IaaS market now has Google, Amazon, Microsoft, and IBM jointly controlling 65 percent of the IaaS market share.
- Consumption-based pricing of services
- Advanced compute-and-store infrastructure
- With managed security services there is a shortage of in-house talent will force businesses to outsource security management to cloud cyber-security providers. McKinsey predicts that cloud-based security products will account for 60 percent of products available in the market in 2020.
- Customers will be free to go to ODMs, mostly based in Asia, to build custom servers for their data centers. According to IDC, 50 percent of the hyper-scale server market will be controlled by custom-built servers.
- Edge computing will be a necessary component in the 2020 BI scenario due to the growth of real-time analytics close to the hardware device. McKinsey predicts that out of the projected $500 billion IoT market through 2020, about a quarter of the market will require edge.
- In-memory computing may also become very popular in 2020 as cost of memory has become substantially affordable in the recent years..
Data Management Conference
At the DATAVERSITY® hosted Enterprise Data World Conference 2020, distinguished speakers will share their knowledge and personal experiences with Data Strategy, Data Governance, Data Architecture, Data Engineering, and much more.
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