According to IDC, the data analytics market is hot and only getting hotter, topping $200 billion in annual spending. There are a variety of trends converging to fuel this market growth, and we’re delving into just a few of them below.
Gartner predicts that by 2023, 50 percent of data analytics will be created, managed, and analyzed at the edge. There are myriad benefits of intelligence at the point of data collection, including speed, agility, flexibility, and insights-driven decision making. For more on edge computing, take a look at this APEX of Innovation post.
Small data is another trend we’ve previously examined. Expect small and wide data (data derived from a wide array of sources) to become increasingly significant in the months ahead. In fact, according to Gartner, by 2025, 70 percent of companies will prioritize small data over big data as a framework for more effective and intelligent decisions.
AnalyticsOps is a collection of steps, integrated processes, and technologies that allow companies to obtain value from AI-based analytics models. The framework is essential for successfully managing the complexities associated with AI and other advanced analysis approaches. In addition, AnalyticsOps eliminates siloes and accelerates time to value by collating data science, IT engineering, and business operations.
Intercloud and Multi-Cloud Technologies
According to IDC, nearly 82 percent of businesses currently use or plan to use multiple clouds within the next year. Intercloud technology allows data management systems to collaborate, using different cloud services running on diverse cloud ecosystems. This technology is becoming more prevalent as companies migrate more data and applications to the cloud.
A data fabric is another data management trend on the rise; increasing volumes and types of data migrated to the cloud necessitate a new approach to storage. With a data fabric, companies have cloud-based, centralized access to data from multiple sources—simplifying data management, reducing data disparity, and enhancing scalability, among other benefits.
For more on these and other data management trends, take a look at this recent ITBusinessEdge article. And if you’re interested in digging deeper into the technologies required to support these trends, head over to TechRepublic.