The use of data is predicted to continue to evolve in numerous ways. Availability, scalability, and data-driven decision-making are highlighted as critical requirements. There is also an increasing need for data processing agreements and adherence to data residency regulations. Companies are seeking to consolidate and simplify their data while avoiding siloed pools.
The year 2023 is expected to bring data contracts to ensure the proper delivery of information to the data warehouse and the availability of data apps for real-time analytics. These analytics will increasingly rely on unstructured data and vector databases powered by AI. Additionally, there is a growing need to train AI with synthetic data.
Industry experts and vendors share insights on how the data space will continue to evolve in the coming months.