Data Trends: From Collaborative Data Sharing to AI-Driven Operations
In the fast-evolving data landscape, understanding emerging trends and embracing technological advancements are key to staying ahead. As we approach 2024, this article explores the data trends that will define the strategic landscape for the coming year.
Trend:
Improving data sharing and secure data collaboration malaysia whatsapp number data between parties is becoming a key area. Companies like Snowflake and Databricks are embracing this idea, and it’s gaining traction across various industries.
Over the past decade, digital transformation has led to the breakdown of business processes and systems into smaller pieces. Some of those pieces remain within the company, while others are outsourced to external providers, creating a complex ecosystem. For example, global payment processing’s digital transformation efforts can now touch 10 or 15 companies, and data is spread across all these different parties. Data from multiple providers needs to be integrated in order to be viewed holistically, and this is a challenge.
So, data products are increasingly being built around the idea of merging data across different parties. This trend is expected to continue for the next few years, and many data products will be built around this process.