As 2023 is expected to bring a renewed focus on profitability over growth at all costs for businesses, we anticipate data will only become more important as a means of driving business value, customer loyalty, and continued innovation.
To break down where data is headed, we’ve compiled our own data predictions based on analysis and insights from Coalesce executives, partners, and thought leaders across the data industry.
From the return of data modeling and the growing importance of automation to more expansive data governance and the democratization of data, we've outlined the top trends in data for 2023 and beyond.
- Data Democratization–Within Limits
- Greater Focus on Data Governance
- Increased Data Mesh Adoption
- Data Contracts Enter the Scene
- The Rise of Data as a Product (DaaP)
- The Emergence of Data Architecture as a Service (DAaaS)
- Data Modeling Makes a Comeback
- More Data-Driven Automation
- AI/ML: Beyond the Hype
- Looking Ahead
30% lower operational costs by 2024 for organizations that combine hyperautomation technologies with redesigned operational processes.
“It’s no longer good enough to just build a data warehouse. You have to add context and document how you built it. Data lineage, quality, glossaries—all these things are baked into good governance because without them, how can people trust what you’ve built?”
– Michael Tantrum, National Sales Director, Resultant
“As hyped as it was, machine learning and artificial intelligence is going to fundamentally change how the industry values data. In a world where some automated system is making a decision, especially when that decision impacts someone in real life, be it in the medical or automotive space, the data is going to become critical.”
– Chad Sanderson, Chief Operator, Data Quality Camp