Enterprises are collecting more data than ever before, attempting to derive business advantages from both proprietary and outside data sources. But uncovering the benefits of the massive volumes of data being generated comes with both challenges and opportunities.
Some of the challenges are obviously related to data management. We’ve seen a growth in tools and technologies, but what remains of the future trends that can illuminate the biggest potential areas of value for businesses?
Clayton Dukes discusses four key data trends around the biggest opportunities and challenges for managing, digesting and taking advantage of your data:
Real-time analytics continues to advance
The velocity of information flow will make real-time visualization a staple of digital businesses. In addition to timeliness, form factor and modes of communication will become important.
We saw the impact of real-time analytics with the Johns Hopkins University dashboard that mapped the spread of coronavirus across the world. The real-time data gave officials an immediate sense of where hot spots developed and where to direct resources to help flatten the curve and try to get ahead of the virus. Only LogZilla’s Network Event Orchestration solution can provide real-time network event alerts that prevent latency and misinformation.
Business insights become timelier, and more meaningful
This is driven, in large, part by two things: relevant data and distributed location processing. As more businesses can sift through vast amounts of data for the most relevant subset to a particular area of business, they’ll be better equipped to arrive at stronger conclusions.
With distributed location processing, edge analytics will deliver more timely and meaningful business insights and it all starts at ingestion, with a log tool that ingest at record scale without limitations.
Regulation will heat up even more
GDPR and CCPA provide a glimpse of a very near, and very real environment where all businesses must define how they collect, handle, and use consumer data. Enterprises have to get used to expanding regulatory scrutiny in the new world of privacy concerns around data. Maine is next to clamp down and join the ranks of fifteen other states with the new privacy law set to take effect July 1, 2020. Other states will inevitably follow. It’s better to be proactive now than catching up later.
Automation will become non negotiable
With the magnitude and velocity of data, automation at every stage of data handling will be imperative. Equally important will be automation in governance and compliance due to the variety and veracity in both data and regulation.
Businesses will only generate more data as time goes on. How they manage and leverage that data will determine in large part whether they can take full advantage of all the opportunities that data presents. In order for any business to leverage the power of their data, they must have a powerful tool that can scale and modify without hour and hours of new training or administrative control. Data’s power is the ability to act in real time, not weeks or months later.
Your data has a lot to offer, from supporting business decisions to suggesting them - and from uncovering new product needs to data becoming a product itself. All of this is made possible by the advances in tools and platforms we’ll continue to see in the next decade of data innovation and it all starts with LogZilla.