Hello 2023 and hello data transformation

As we are about to enter 2023, we cannot but stop to think about what the new year will bring to data and vice versa. We’ve seen data become a hot topic across all industries, but it hasn’t reached its full potential despite being the driving force behind major businesses.?

We live in a digital age where innovations are plenty and technological advances are ever-changing. Data science and data engineering are no exception to the rule, and their environment and tech stack are evolving rapidly.?

So, stepping into 2023 should be accompanied by data. Businesses that aren’t in the data game, are already losing. Digital transformation is overtaken by data transformation. Integration of data systems and architecture has become increasingly integral in data utilization and processes. The importance of data quality and usability will not decline. So, what can we say about what will happen in the next year? Well, we’re glad you asked.

Continuation of shifting to data-based products and services - Most are not even aware of products or services they use that are based on data, whether it’s generated or collected. There is a whole section of businesses that provide services based on data users generated. The user is in focus and companies are banking on data to help them deliver almost personalized experiences when using their products or services.?

Data democratization is paving the way - As one of the biggest trends, data democratization is here to revolutionize how businesses are conducted and how data moves from its source to the user. Allowing users on multiple different corporate levels to access data promotes data literacy and optimizes decision-making. Empowering employees to work with data brings loads of benefits while uncovering the potential of previously unrecognized opportunities and possible improvements.?

From batch to streaming - Batch processing is here to stay, don’t worry, but stream processing will gain even more attention. Processing data in near or real-time will become unavoidable. With the speed at which data is generated these days, streaming and using technologies like Kafka or Spark is the way to go if any business wants to stay at the top. Bringing insights or metrics instantaneously has become imperative to making decisions on time and reacting to market changes as they happen. This helps businesses optimize their processes but also avoid major threats and manage crises.?

No stopping for machine learning and AI - There isn’t a person who hasn’t seen or experienced the benefits of machine learning and AI. From various tools and apps that use AI to optimize processes to machine learning and making predictions, these advances are built to empower. The usage of data to model predictions of market movements or movements of business processes will continue to rise and become even better and more accurate. At some point, they will become integral parts of any company and its day-to-day operations.

Visualization tools and self-service analytics are the winning combos - With data democratization comes the use of self-service analytics and visualization tools. Self-service analytics is an approach where ordinary users are enabled and encouraged to analyze data on their own and generate reports and insights relevant to their work or role in the organization. Combine that with visualization tools, and you have a recipe for full data utilization at every level. Dispersing data across company levels increases productivity and efficiency, but also minimizes room for errors.?

There are many more trends to be seen in the next year, but one thing is certain, data will only rise in value. There’s no mistaking the impact it already had on the lives of individuals and the success of many companies. Data science and data engineering have become staples in the IT industry and integral parts of creating complex software solutions that change markets.