Data Innovations Promise Good Fortune in 2018
With the new year upon us, we are looking forward to partnering with our customers in their continued march toward more advanced BI and analytics that put the power of data into the hands of workers on the frontline. To help prepare for another data-focused year, we’ve rounded up some of the top BI, analytics and data management predictions from industry analysts and Information Builders’ thought leaders. Keep reading to learn what you can expect in 2018 – from the IoT to predicative analytics and blockchain to GDPR.
NICK JONES, Gartner, Top 10 IoT Technologies for Digital Business in 2018 and 2019, Sept 2017
The IoT demands a wide range of new technologies, many of which will take the enterprise into unfamiliar territory and demand new skills. The tension between long-lived IoT assets and immature vendors and technologies will remain a major challenge through 2019.
Enterprise architecture and technology innovation leaders responsible for IoT strategy should:
- Develop a prioritized list of key IoT technologies based on digital business needs to create IT architectures, identify skills gaps, and plan recruiting and sourcing.
- Evaluate IoT technologies to assess their maturity and risk, and create architectures and roadmaps to transition from tactical to more strategic vendors and technologies
HOWARD DRESNER, Dresner Advisory Services
In spite of the waves of hype that come and go in the industry, organizations will continue to need to focus upon delivering better insights to more users - in an effort to not only inform but to align with internal strategy and external requirements.
The degree with which new technologies and paradigms emerge to support this, will determine their relevance and longevity.
LYNDSAY WISE, Information Builders
Predictive analytics and artificial intelligence support organizations with mature analytics deployments that want to identify patterns and develop recommendations to enable proactive business practices. Depending on the specific business need, industry, and analytics environment, AI and predictive analytics involve complexities that require high levels of data and a deep understanding of that data.
WAYNE ECKERSON, Eckerson Group, What to Expect in 2018: Our Top Predictions for the New Year
The Report Catalog Debuts – If 2017 was the year of the data catalog, 2018 is the year of the report catalog. Think about it. Organizations have hundreds, if not thousands of reports, generated by multiple analytical tools, making it nearly impossible for business people to find the right report. A report catalog will enable users to search, profile, view, rate, compare, and annotate reports from any system in real time. In addition, they can bookmark their favorite reports to create a personalized information workflow. BI managers might be the biggest beneficiaries of report catalogs: they can monitor report usage, audit changes, compare differences, and clean out unused reports.
DAN VESSET & DAVID SCHUMEHL, IDC, IDC FutureScape: Worldwide Analytics and Information Management 2018 Predictions
By 2021, 20 percent of data from sources on open networks will be registered on a public blockchain, and corresponding APIs will have been made available to validate these blockchain registrations.1
MICHAEL FERGUSON, Intelligent Business Strategies
The prediction for 2018 is that data management will be given higher priority than analytics in many enterprises because the complexity caused by the sheer number of data sources and data stores that companies now have to manage is becoming a huge challenge and bordering on becoming overwhelming in some cases. Also 2018 is the year of data governance to ensure compliance with legislation such as European Union General Data Protection Regulation (GDPR) which becomes active in May and will impact many businesses around the globe. It is predicted manual data ingestion, inspection, data profiling and processing will give way to smart data management with analytics built in to data management software to automate data ingestion, data discovery, data profiling, semantic tagging and cataloguing to speed up and understand what data is being captured, its quality, what it means and where it came from.
JAKE FREIVALD, Information Builders
In 2018, blockchain technology will continue development towards reaching its full power. There are technical limitations that must be broken in order for it to become a truly enterprise-class technology for shared, non-repudiable public or private ledgers.
In the New Year, industries such as healthcare, financial services, supply chain, and manufacturing will begin utilizing blockchain. For these organizations, the technology’s security will prove extremely beneficial, particularly when it comes to data integrity. Even if ledgers within a single blockchain get hacked by a third party – an unlikely event to start with – those hackers would have to change the data in almost half of all of the ledgers in order to make the blockchain stop functioning correctly. This dramatically limits the scope of damage that can be done.
As you can see, it’s going to be a busy 2018! For more predictions, be sure to check out our 5 Hot Trends for Data and Analytics in 2018 webinar.
1 FutureScape: Worldwide Analytics and InformationManagement 2018 Predictions, IDC, Oct 2017 - Doc #US42619417