The top 5 data trends we expect to see in 2022
Informatica ANZ
Informatica helps data-driven leaders unleash the power of data to drive their intelligent disruption.
As organisations reach a new level of maturity in their digital transformations, we’re excited to see this is now paving the way for more energy and focus on data transformation. ?
This goes hand in hand with skyrocketing interest and demand from business users, who are increasingly looking to data as a fundamental backbone of decision making.
While in 2021 we saw challenges and successes in migrating existing data to the cloud, this year is set to deliver new opportunities in how we explore, use and manage that data.?
Informatica’s Vice President and Managing Director of ANZ, Richard Scott, along with Alex Newman (Sales Director) and Brad Starr (Presales Director), recently caught up to chat about the top trends they see unfolding in the data space in 2022.
Trend # 1: Data democratisation and sharing
Rising maturity and shifting expectations of business users are key drivers for data democratisation (making data available to everyone). Executives are also leaning into the data sharing conversation – due in part to the business benefits, but also concerns over personal liability in the event of a data breach.
At the same time, we’re seeing new laws around how organisations can share data, such as APRA CPG 235 (designed to help regulated entities manage data risk) and GDPR (how a person’s data is managed in line with their right to privacy).
Data democratisation efforts are growing in both the private and public sectors, now that data is recognised as crucial for decision making and customer experience. For example, government agencies might seek to exchange data with private businesses to better serve citizens – such as sharing non-sensitive patient data to support outpatient services, or sharing data for improved infrastructure decisions in designing smart cities.
Achieving the ultimate state of data democratisation will require a strong understanding of data governance and why it’s the foundation of effective data management. Only through building a data marketplace, underpinned by established quality controls, can trusted data be curated and licensed or shared based on need and business context.
?Trend # 2: Data warehouse modernisation
The data ingress costs which plagued many organisations in the past couple of years have hopefully led to lessons learned and invited the potential for new approaches. This is particularly true for organisations that opted for single cloud vendors and are now exploring a move to multi-cloud and the benefits it can bring.
As we see increasing modernisation of the data warehouse, we expect this to lead to more elastic and mature ingestion strategies which curtail some of the previous issues.
In 2022, it will be worth exploring new or alternative data warehouse engines where features such as advance pushdown optimisation can reduce egress costs by shifting to Extract-Load-Transform (ELT). This is unlike older cloud ecosystem engines which use a traditional E-T-L approach which can drive up consumption and costs.
In selecting the right engine for the job, you can mitigate against performance degradation and blow out costs. This is particularly important for industries such as financial services, where performance and scalability are vital.
Another area of data warehouse that will receive much-needed attention is data profiling. Profiling data before migration allows you to confirm what is appropriate to move and what is not. This eliminates duplications and enables informed decision making around the migration of sensitive data.
Trend # 3: Artificial intelligence in data management
It’s nearly impossible to reach “the promised land” of data management without the support of artificial intelligence (AI). There simply aren’t enough data scientists, or time in their day, to manage data manually.
Up to 60% of AI and machine learning (ML) use cases fail to make it into production due to a lack of trust in the data. So while data management is critical to operationalising AI/ML use cases, AI is just as important to your data management platform to help you scale and focus on activities that add value.
AI provides the foundation necessary for total data management – from identifying and remediating incomplete datasets to enabling self-service by drawing connections between user needs and available insights. AI also frees up data scientists so they don’t spend their days in the weeds of data management, but can concentrate on ?building business value through predictive analytics real-time insights based on ML models based on trusted data. For these reasons and more we expect to see a huge uptake in data management solutions powered by AI, such as Informatica’s own CLAIRE engine.
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Trend # 4: Data as a driver of CX
A recent article from McKinsey on the future of customer experience stated:
“For organizations to lead from a customer-centric position, they increasingly need a comprehensive view of the full customer journey, as well as the ability to obtain deep, granular insight on what is driving customer experience.”
Robust customer data management is essential to building a 360 degree view of your customers.
Informatica’s Customer 360 provides a framework to centrally onboard and safeguard customer data; expose relationships across entities; and enrich, verify, and validate customer information. The AI-powered Customer Data Platform enables accurate and contextual matching, pattern discovery, and real-time insights at scale.
For customers, this translates into:
Trend # 5: The rise of no code
According to recent research from Gartner, 70% of new applications developed by organizations will use low-code or no-code technologies by 2025, up from less than 25% in 2020.
Rather than requiring extensive time and effort by highly skilled programmers, low code and no code leverages visual interfaces, drag and drop, templates, and advanced business logic to aid in the development of applications.
While low code still requires technical ability, no code environments (such as Informatica) enable non-technical business users to play a role in developing fit-for-purpose solutions to specific business problems. This empowers rapid scaling and unprecedented agility, while freeing up skilled technicians to spend time on other projects. ?
Accelerate your data transformation with Informatica
As the world leader in enterprise data solutions, as recognised by the Gartner Magic Quadrants, Informatica has now partnered with more than 7,000 organisations to accelerate their data transformation.
Operating at the cutting edge of data management technologies, we are so excited to support our customers in areas such as:
Ultimately, we’re here to help you simplify and streamline every aspect of your data journey so you can propel your organisation and lead in your sector.?
To learn more, simply PM Richard, Alex or Brad or attend our upcoming Roadmap event on the 22nd. Register here