How will your organization manage this year’s data growth and business requirements? Your actions and strategies involving data and AI will improve or undermine your organization’s competitiveness in the months and years to come. Our teams at Google Cloud have an eye on the future as we evolve our strategies to protect technology choice, simplify data integration, increase AI adoption, deliver needed information on demand, and meet security requirements.
Google Cloud worked with* IDC on multiple studies involving global organizations across industries in order to explore how data leaders are successfully addressing key data and AI challenges. We compiled the results in our 2023 Data and AI Trends report. In it, you’ll find the metrics-rich research behind the top five data and AI trends, along with tips and customer examples for incorporating them into your plans.
1: Show data silos the door
Given the increasing volumes of data we’re all managing, it’s no surprise that siloed transactional databases and warehousing strategies can’t meet modern demands. Organizations want to improve how they store, manage, analyze, and govern all their data, while reducing costs. They also want to eliminate conflicting insights from replicated data and empower everyone with fresh data.
In the report, you can learn how to adopt a unified data cloud that supports every stage of the data lifecycle so that you can improve data usage, accessibility, and governance. Inform your strategy by drawing on organizations’ examples such as a data fabric that improves customer experiences by connecting more than 80 data silos, as well as other unified data clouds that save money and simplify growth.
2: Usher in the age of the open data ecosystem
Data is the key to unlocking AI, speeding up development cycles, and increasing ROI. To protect against data and technology lock-in, more organizations are adopting open source software and open APIs.
Understand how you can simplify data integration, facilitate multicloud analytics, and use the technologies you want with an open data ecosystem, as described in the report. Learn from metrics about global open source adoption and public dataset usage. And explore how global companies adopted open data ecosystems to improve patient outcomes, increase website traffic by 25%, and cut operating costs by 90%.
3: Embrace the AI tipping point
Pulling useful information out of data is easier with AI and ML. Not only can you identify patterns and answer questions faster but the technologies also make it easier to solve problems at scale.
Organizations share how they’re reaching their goals using AI and ML by empowering “citizen data scientists” and having them focus on small wins first. Gain tips from Yang and other experts for developing your AI strategy. And read how organizations achieve outcomes such as a reduction of 7,400 tons per year in carbon emissions and a more than 200% increase in ROI from ad spend by using pattern recognition and other AI capabilities.
4: Infuse insights everywhere
Yesterday’s BI solutions have led to outdated insights and user fatigue with the status quo, based on generic metrics and old information. Research shows that as new tools come online, expectations for BI are changing, with companies revising their strategies to improve decision making, speed up the development of new revenue streams, and increase customer acquisition and retention by providing individuals with needed information on demand.
In the report, you’ll discover why and how data leaders are rethinking their BI analytics strategies and applications to improve users’ trust and use of data in automated workflows, customizable dashboards, and on-demand reports. Global companies also share how they improve decision making with self-service BI, customer experiences with IoT analysis, and threat mitigation with embedded analytics.
5: Get to know your unknown data
Increasing data volumes can make it harder to know where and what data they store, which may create risk. Case in point: If a customer unexpectedly shares personally identifiable information during a recorded customer support call or chat session, that data might require specialized governance, which the standardized storage process may not provide.
Check out the report to learn about data security risks that are often overlooked and how to develop proactive governance strategies for your sensitive data. You can also read how global organizations have increased customer trust and productivity by improving how they discover, classify, and manage their structured and unstructured data.
Be ready for what’s next
What’s exciting about these trends is that they’re enabling organizations across industries to realize very different goals using their choice of technologies. And although all the trends depend on each other, research shows you can realize measurable benefits whether you adopt one or all five.
Review the report yourself and learn how you can refine your organization’s data and AI strategies by drawing on the collective insights, experiences, and successes of more than 800 global organizations.
*commissioned by Google Cloud
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