Future of Data management. Predictions for 2023 and beyond

During the mid 2010, most organizations were aware of DATA being the primary driver for differentiation and growth though to this day, putting data to work remains a difficult challenge for many if not most organizations. Primary reason has been differentiated focus on the technology as compared to DATA itself.

Last 5 years have been towards operational AI based on DATA mainly focused on Digitization of data towards specific use-case, i.e. supply chain centric data or sales or marketing centric data, which we also call as DATA transformation.

2023 and beyond is predicated on DATA itself, which is transferable/ connected and can build business insights with a holistic view at scale and on demand. That is true digital transformation.

Top 5 trends and predictions

1. Most Innovation would be towards cloud and/or technology agnostic data-interoperability fuelled by vast amount of DATA
2. Stand alone applications would sunset and would be replaced by a infrastructure which has pre-built PIM, DAM, E-com, Supply chain, Analytics, AR, and vast array of ready to connect API interfaces for both online and offline applications to collate, merge and transform DATA
3. New customer first business models would emerge based on DATA, "Pay per Data use" v/s "Pay for Infrastructure/app". Data would become centre of the Digital business
4. Matadata driven data fabric would be the primary source data connect v/s the actual data, Data management would create context and trust
5. Security and privacy of DATA would be a primary practice for any/all organizations. Data governance would become critical along with cloud transparency, threat protection

Also read - Customer experience should become an inextricable part of your culture. https://www.dhirubhai.net/pulse/customer-experience-myth-trushit-buch/