Thanks to the latest advancements in cloud computing and AI, companies can embrace large volumes of data and analyze them in real-time. Organizations are trying to leverage dispersed data stacks to make informed business decisions and adjust their internal operations.
But this field of technology is rapidly evolving. It is necessary to understand what is lying ahead for it and detect the most widespread use cases for the future.
Growing Demand for Data-as-a-Product
With a steady uptick in ML specialists, data scientists, and others, it will be necessary to have the data not as a byproduct, but rather an actual product. Today, many companies operate full-fledged divisions dealing with Big Data as their primary activity. For them, it is critical to unite different storage environments and use it for Data Science.
Actionable Data to Become Mainstream
It is evident that large unstructured volumes of data are useless without proper analysis. By processing the data with advanced analytics tools, companies will extract insights that will help them target multiple business goals at once. Another outcome of the trend is the collision between the two historically separate fields: data and analytics. We are likely to observe the introduction of coherent tech stacks in 2021.
Wide Adoption of Database-as-a-Service (DBaaS)
To reduce the costs of third-party customer data, companies may turn to specialized services that provide on-demand access to it. In this case, buyers can instantly obtain and assess the information about their target audiences and securely store it inside their organization. As interest in buyer behavior patterns continues to surge, brands are trying to grasp that opportunity and use consumer data in a cost-efficient way.
Rise of Multi-Cloud Environments
There is a steady demand for secure and accessible data that is available without outages. To achieve that goal, enterprises opt for many cloud platforms instead of just one. A multi-cloud strategy helps meet different compute and storage requirements. However, not everything is simple about that space. Lack of transparency in cloud solutions has been an issue for many. Experts predict that some cloud storage providers can make some disruptive moves of giving users more freedom to control their data.
Chief Data Officers (CDOs) to be in Great Demand
Relative newcomers to the family of IT-related job positions, CDOs may become one of the hottest ones in the industry. Those are tech-savvy data professionals liable for in-house data security and integrity. As the scale of corporate data democratization continues to grow, more and more entrepreneurs and company leaders start to recognize the significance of this C-level role.
Augmented Analytics Engine will Simplify Things
Business insights may become easier to extract through wide adoption of an Augmented analytics engine. This technology employs ML and AI devices to project outcomes based on unstructured data, and converts it into actionable data. Online businesses are likely to take interest in this activity in 2021 as it helps to propagate data discovery, accelerate insights, and, above all, reduce the number of manual operations.
Increased Data Quality
That is another trend triggered by the use of automation. As companies tend to implement budget-cutting mechanisms amidst the times of uncertainty, clean data can become the number one weapon for that aim. That is why, with the help of AI and ML, it will be possible to fix incorrect data and use it to one’s advantage.
Quantum Computing to Accelerate Big Data
The race for a balanced quantum computing model is hardly ever going to stop in the next few years. Thanks to sophisticated algorithms, qubit-based computers will be able to perform complex calculations in a matter of seconds. It will be possible to analyze each element of a massive database and detect patterns in them at a glance.
As tech stacks and solutions become more complex, 2021 may become another year of innovation and advancements. Companies that look forward to making informed business decisions need to define the Big data toolchains for their needs. They may have a long-term impact on the most crucial aspects of your business.