5 Fast-Growing Data Management Trends in 2023
Data makes the world round, so data management is one of the most important considerations for modern businesses. It’s also a constantly changing field, especially as more companies across a wider range take advantage of it. Amid all these shifts, staying on top of evolving data management trends is essential.
Capitalizing on these trends early could be an important part of staying competitive in 2023 and beyond. Here are five fast-growing trends you should know.
1. Increased Regulatory Pressure
Consistent with the past few years, rising regulatory guidelines are one of the biggest data management trends for 2023. Data regulations go far beyond the General Data Protection Regulation (GDPR), which kickstarted the modern regulatory landscape. Comprehensive data privacy laws in at least four states are going into effect this year, and more than a dozen states have similar legislation in the works.
Database management may become increasingly complex as organizations must account for more of these laws. Businesses may fall under multiple regulations with different standards, making compliance tricky. Boosting database transparency and holding systems to a higher standard than what the law states will be important compliance measures going forward.
2. Data Mesh
More data management systems in 2023 will also shift toward a data mesh architecture. This decentralized architecture breaks data lakes into smaller domains specific to a given team or department. That way, sales teams own, produce and manage sales data, customer service has complete control over their own information and so on.
The mesh approach allows for more streamlined data-driven decisions and processes within specific departments and puts responsibility in the hands of the people who actually use the information. However, enabling these architectures safely will require careful planning and security.
3. AI in Data Observability
Automation has steadily become more common in data management software, but it’ll reach new heights in 2023. Automation and artificial intelligence (AI) will see particular growth in the realm of observability.
Observability means ensuring databases are transparent, accurate and high-quality. It’s an increasingly crucial part of database management and analytics, but it can also take up to 40% of data engineers’ time when done manually. Consequently, more teams will use AI to ensure observability while minimizing time consumption and human error-related risks.
4. Tool Consolidation
Consolidating once separate management solutions will be another leading data management trend in 2023. Businesses often juggle multiple tools to manage data as it plays a bigger role, from cleansing to storage to quality checks to governance. This leaves the average company with over 250 SaaS apps, even though less than half see regular use.
More vendors will offer all-in-one solutions as software sprawl becomes a bigger issue. Consolidating tools into a single platform will make it easier to manage large data volumes, comply with regulations and enable architectures like data mesh.
5. Low-Code and No-Code Apps
Like other technology fields, database management today must grapple with a troublesome shortage of skilled workers. More than half of global organizations have faced tech talent shortages over the past five years, and the gap has only worsened over time. Data management teams can face this shortage by embracing low-code and no-code apps.
Low-code management apps streamline data management systems, enabling faster deployment despite having fewer workers. They also make the field more accessible for less experienced employees, letting teams cast a wider net when hiring. Consequently, no-code and low-code solutions will quickly gain popularity.
Keep an Eye on These Data Management Trends
These five data management trends will shape the industry throughout 2023 and beyond. Given that influence, leaders would do well to monitor and be prepared to react to them.
Knowing the strategies and technologies that will reshape data management helps teams stay competitive and determine what to invest in. They can then make the most of their most valuable resource.
Resources:
- https://iapp.org/resources/article/us-state-privacy-legislation-tracker/
- https://getrightdata.com/content/dextrus-blogs/top-8-trends-for-data-management-in-2023
- https://www.businesswire.com/news/home/20210915005244/en/Less-than-Half-of-Company-SaaS-Applications-Are-Regularly-Used-by-Employees
- https://www.statista.com/statistics/1269776/worldwide-organizations-talent-shortage-skills-tech/
- https://www.ataccama.com/blog/7-data-management-trends
- https://www.montecarlodata.com/blog-data-management/#data-quality-and-data-observability
- https://www.ibm.com/topics/data-mesh
Originally posted on OpenDataScience.com
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