If you want to gain a competitive edge in the marketplace today, digital transformation should be on the top of your list. The coronavirus Pandemic suddenly has made this switch the need of the hour even for small to medium-sized businesses who earlier had no digital presence in the market.
The surge of data is fast and complex.
Now, if you are the owner of a large business, it is presumed you are already on the digital landscape. However, with the surge of large datasets coming into the business today, it is important for you to explore and know the latest data management trends for 2021. With this knowledge, you are able to overcome several challenges for your company and gain a competitive edge in the fiercely competitive market today. The goal here should be not just data management but “smart data management” for your customized business needs.
What are the key challenges that businesses face today?
Before looking into the latest database management trends for 2021, let us examine the current digital scenario with respect to the three biggest challenges businesses face today in the current COVID-19 era-
1. Need for automated data strategies
There are only 25% of businesses that feel where they should be with the database management systems today since the outbreak of the Pandemic. Unfortunately, this figure has dropped from 31% in 2015. Digital data and IT tasks have surged like never before and Big Data plays a large role here. Trends revolving around Big Data are a top feature today and businesses should embrace tools for catching, managing and analyzing the all the data that comes in for their potential benefits.
2. Security of data is often overlooked
Most organizations face a lot of challenges with building a secure database management system. It is high time for them to evaluate their IT system lapses and embrace better security practices and tools to combat these challenges seamlessly in the Pandemic era. This also applies to small businesses as last year cyber- crimes surged and 2020 had been a witness to several database security breaches including big names like Equifax and AWS.
3. The demand for the latest data skills has increased multi-fold
With the advent of 2021, there is an increased demand for IT experts well-versed in the latest database management and business intelligence technologies. For instance, companies today need more data analysts like never before. The influx of Big Data is huge and it is the need of the hour for organizations to upgrade the skills of their internal IT staff to manage the above trends smoothly in 2021. Data science is growing and companies need to ensure they have the best talents in the industry to cater to this increasing demand.
Gearing up for 2021
It is crucial for all types of businesses to be aware of the latest trends that have the maximum impact on the IT industry this year. So, without much further ado, let us take a look at these most influential database management trends-
1. Optimization of data warehouses
Data warehouses have a big role to play today. They will help businesses to take care of complex data sets proficiently. IT experts need to make the best use of their data warehouses especially if the company is embracing advanced artificial intelligence frameworks to tackle complicated business issues in 2021. They need to rearrange their relational database management systems so that social data sets can be optimized effectively for both their short- and long-term business goals.
2. Augment the management of data
Manual malfunctions will surge in 2021 due to the complexity of data. In a recent study, it has been seen that manual assignments will fall by 2022 by at least 45 percent as predicted by Gartner. Organizations with the help of AI need to streamline the administration of data sets with newer emerging database management AI and ML technologies. The business should customize its solutions and if needed create a unique mix of both old and new database management technologies for gaining a strategic edge this year.
3. Leverage the Cloud
More businesses will shift to the cloud and this will also include utilizing DBaaS or Database as a Service in 2021. This is one of the most influential Database Management Trends that will facilitate both data merging and sharing bringing in more convenience for IT experts and security professionals. It will also be a boon for database access, automation processes and monitoring as well.
4. Inclusion of Graph Databases
This is an old innovation that tech giants like Google, Facebook and Twitter today are deploying for their companies. With the aid of data charts, these companies are able to comprehend their business choices, clients and product offerings for quite some time now. Here a mix of AI and ML (machine learning) is generally used and this is undoubtedly an emerging trend that other businesses need to embrace today.
5. Data fabrication for better management
Gone are the days when information was a solitary arena. It has rapidly dissipated across the cloud and on-premise climates. In 2020, there was an outstanding development in IT infrastructure. As a result, businesses today are searching for executing the best DBMS development tools for their companies. They are devising strategies to collect this different data so that business intelligence solutions can be customized to suit their specific company goals in the future.
6. Infrastructure for machine learning
Organizations need to invest more in artificial intelligence and machine learning infrastructure. The biggest advantage of AI is it has the ability to drive larger data sets in a limited duration of time. Numerous ML frameworks are needed to take care of AI programs for the business’ unique needs. Simply collecting data is not enough- it must be reliable and depended upon for the growth of the business.
Therefore, from the above, it is evident that businesses of all sizes should know the major database management trends that will impact them the most this year. Data adaptability is the key and moreover, embracing AI and ML for their day-to-day tasks in the pandemic era will sure give these companies a competitive edge today and in the future too!