The total amount of data generated worldwide is expected to grow by 60% in the next 5 years to 175 zettabytes. To put that number in perspective, 1 zettabyte is the equivalent of all the sand on the world’s beaches. Much of this data deluge is attributable to the billions of sensors in our always-on, always-watching Internet of Things society. With so much data stacking up, what are companies focusing on for 2020 related to data management and analytics? Three trends to watch in the new year are as follows:
1) Data Security
According to Gartner research, 70% of organizations see managing personal data and securing it from external threats as their biggest concern for 2020. The various ways in which data can be breached are mind boggling and include everything from poor user authentication practices, phishing schemes, and viruses among many others. With this in mind, organizations are rushing to secure data through encryption, hardening of their network, training of employees, and other techniques. If your organization has not taken steps to protect its data, now is the time, before a costly breach occurs.
2) Data Automation
With the rise in data volumes, velocity, and variety comes challenges with processing and sifting through it in a timely and efficient manner. Data scientists and other analysts need to be freed up to interpret data and look for trends versus spending time gathering, cleaning, and prepping data. Automating these tasks saves time and allows data to be more quickly interpreted and applied in support of achieving business results.
3) Augmented Analytics
The concept of augmented analytics has quickly risen to the top trends impacting the field of data and analytics. Augmented analytics leverages advanced data science techniques such as artificial intelligence (AI) and natural language processing (NLP) to transform large, unstructured data sets into smaller, actionable insights. This is possible by allowing self-learning algorithms to automate insight generation and reduce the need for highly sought after, well-compensated data scientists.
The world continues its move to a data-first approach and companies that want to stay ahead of the curve will leverage data and analytics to avoid obsolescence.