Welcome to our latest blog which we hope will assist you in your chief data officer role in which we distil and delve into the insightful article “7 Data Management Trends: The Future of Data Management” authored by Mary Shacklett. In this blog, we embark on a journey through the data management landscape of 2023, exploring seven key trends that are shaping the future of data handling during your business transformation. As we adapt to the era of unprecedented data volumes, our focus is on understanding the challenges and opportunities presented by these emerging data management trends. From hybrid data management frameworks to the growing role of AI and blockchain, we'll unravel how businesses can stay ahead in this data-driven world. So, let's dive in and explore the evolving landscape of strategic data management.
Hybrid end-to-end data management frameworks
The influx of data from diverse sources, ranging from IoT devices and cloud providers to legacy systems and remote users, has created a hybrid environment where data is as varied as its uses and users. To effectively manage this data and ensure its secure transport and storage, enterprises are turning to comprehensive data management frameworks. IBM, SAP, Tibco, Talend, Oracle and other key players offer end-to-end data fabric management solutions that enable organisations to navigate this intricate data landscape. But data management is not just about storage; it's also about security. End-to-end security mesh software from vendors such as Fortinet, Palo Alto Networks and Crowdstrike is becoming crucial in safeguarding data, regardless of its origin or destination.
The consolidation of data observability tools
The importance of observability in tracking data and events across various platforms cannot be overstated. However, many organisations face a challenge - a proliferation of different observability tools used across their systems. Middleware and Datadog have recognised this issue and are now focusing on delivering integrated observability toolsets. These toolsets consolidate the myriad of observability tools into a single, unified platform that efficiently monitors data and event movements, ensuring end-to-end visibility across the cloud and on-premises systems.
Master data management for legacy systems
As businesses evolve with new technologies, they often struggle with how to handle legacy systems that still offer value. Some of these legacy systems, like SAP or Oracle, come equipped with comprehensive master data management (MDM) toolsets. More and more enterprises are adopting these MDM solutions as part of their data governance strategies. MDM tools simplify data management, offering user-friendly ways to manage system data and import external data sources. These tools provide a single view of data, no matter where it resides, while IT sets the rules for data consistency, quality, security and governance.
Data management using AI/ML
Artificial intelligence and machine learning (AI/ML) have become central to data management. AI and ML bring automation to manual processes, particularly crucial as data volumes explode and organisations face a shortage of data-focused staff. AI and ML are streamlining essential data management tasks, including data cataloguing, metadata management, data mapping, anomaly detection, metadata auto-discovery and data governance control monitoring. As AI/ML technology advances, we can anticipate more intelligent, learning-based approaches for search, discovery and capacity planning.
Prioritising data security
Data security has become paramount, especially in the era of edge computing and the Internet of Things (IoT). The consequences of a data breach can be catastrophic, impacting a company's reputation, revenue and customer loyalty. Security solution providers are shifting toward end-to-end security fabric solutions, offering training for employees and IT to combat security vulnerabilities arising from user citizen development and lax security habits. While security is often viewed as the purview of IT and network groups, ensuring clean, secure and reliable data is a shared concern for database administrators, data analysts and data storage experts.
Automating data preparation
The exponential growth of big data and the shortage of data science talent have created a significant challenge for organiations. To address this, software vendors are introducing data preparation and cleaning automation solutions. These automated tools streamline data preparation, cleansing, organisation and maintenance tasks. Leveraging AI and ML, they enhance the efficiency and accuracy of these labour-intensive operations.
Using blockchain and distributed ledger technology
Distributed ledger systems and blockchain technology are changing the way data is maintained, verified and secured. These technologies offer enhanced security for transaction records, asset tracking and audit trails. They store data in a decentralised form, preventing unauthorised alterations and improving data authenticity. Blockchain and distributed ledger technology play a pivotal role in data governance, security and verification.
The future of data management
In the age of ever-increasing data volumes, businesses are searching for new ways to manage and analyse data from a myriad of sources. Leading-edge technologies like AI/ML and blockchain are at the forefront of data management. Software vendors are incorporating these technologies into their platforms to automate and enhance data management processes. As data management methods continue to evolve in tandem with technological advancements, organisations must integrate these innovations into their processes to meet the rising demand for effective data management. In conclusion, these seven data management trends are shaping the future of data management, offering businesses the tools and strategies they need to navigate the complex data landscape of the digital age. Click here to read the original article by Mary Shacklett published on Datamation on 2 August 2023.
Inaugural Richmond CDO Forum
With only ten months to go until our first Richmond CDO Forum, we’re thrilled to announce that we now have eleven diverse and expert speakers lined up to share their knowledge and insights about the future of data and how organisations can harness it for increased productivity, growth and efficiency.
Time is running out so make sure you book your place at our inaugural Richmond CDO Forum on 16-17 September 2024. Simply click here if you are a delegate or here if you are a supplier.
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