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Watch These 6 Trends Coming in 2023 Featured

Watch These 6 Trends Coming in 2023 Ahmed Zayan

In an era where the business landscape is becoming competitive and changing rapidly, data collection and analysis are becoming crucial in determining the ability of a business to solve certain problems faced by customers in the market. Regardless of the industry, data has become one of the sought-after aspects. This has seen big data developing faster than ever. As you think of capitalizing on big data to enhance business operations, watch these six trends coming in 2023.

  1. Artificial intelligence

Artificial intelligence (AI) has been among the leading technological advancements over the past decade. Together with machine learning, robotics, and automation, AI has revolutionized how businesses in different industries operate. With the help of AI, data analysis is rapidly evolving, helping organizations better understand the data they collect. With the COVID-19 pandemic, AI's value has even increased as working from home, and remote work made substantial progress in most organizations. The number of AI apps will increase as businesses seek to benefit from AI systems and processes. These apps will be useful in forecasting customer demand to enhance sales, improving stocking in warehouses and hastening delivery times to increase customer satisfaction.

  1. Democratization of data

This aims at empowering all people in an organization without prejudice with the ability to interact with data and discuss it to improve decisions and customer experiences. With the potential of data analytics, the democratization of data has become a reality, as non-technical users can collect and analyze data without the assistance of IT people, data stewards and administrators. Access to data is expected to improve as more tools enable employees to understand them better.

  1. Edge computing

With the fast adoption of 5G, edge computing is promising to create opportunities across different industries. Edge computing entails storing and processing data closer to the source, making the data more accurate and manageable, reducing costs, increasing processing speed, offering faster insights and allowing fast continuous operations to be carried out. Therefore, there is no doubt that the pace of data processing at the edge will increase tremendously, with reports indicating that this technology will be up by 65% in 2025.

  1. Quantum computing

This emerging technology is expected to improve business operations and value chains to the next level. McKinsey predicts that this technology will capture about $700 billion in value by 2035. Quantum computing will accelerate technologies, fast-track research and speed up data processing, making things such as cracking encryption effortless. Being faster than traditional computing, quantum computing continues to receive attention from research institutions and other organizations who see it as the future. 

  1. Blockchain

Blockchain technology has been there for over a decade and continues to feature strongly as one of the favourite technologies to take the world to the future. Besides the financial industry and cryptocurrencies such as Bitcoin, and Ethereum, among others, blockchain continues to shape other industries such as cybersecurity, elections and supply chain. With the rise in Web3, blockchain technology is showing no signs of relenting in its influence. Going to 2023, it will continue being one of the hottest technologies worldwide.

  1. Data-as-a-service

Data-as-a-services (DaaS) is a cloud-based software tool that analyzes and manages data. It provides data warehouses and business intelligence tools that can be run from anywhere ad at any time. Subscribers can access, use and share files online through this service via the internet. Since the peak of the COVID-19 pandemic, this industry has grown in sectors like healthcare. With the expected growth of work-from-home, this technology is expected to continue growing. This will continue in the future as it is expected to continue leading to more productivity.

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Scott Koegler

Scott Koegler is Executive Editor for Big Data & Analytics Tech Brief

scottkoegler.me/

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