Beyond the Buzzwords: 5 Surprising Data Trends and How FME Paves the Way in 2024
The data game is changing faster than ever. While everyone’s obsessed with AI and Big Data, 2024 whispers a different kind of revolution – one rooted in agility, efficiency, and human focus. Let’s ditch the trendy jargon and dive into 5 hidden trends silently shaping the data landscape, and how the FME Platform empowers you to ride this wave.
1. The Rise of “Small Data”: Efficiency Reigns Supreme
Forget the petabyte glory days and while the allure of massive datasets persist, recent trends would suggest a shift towards smaller, more manageable data workloads i.e. 45% of data lakes contain datasets under 10GB, according to IDC’s 2023 Data Lake Survey*. Companies are realising that smaller, faster operations unlock agility and cost savings. Expect a surge in in-memory/in-process databases for rapid deployment and scalable analytics on the fly. This is where FME shines. Its robust data engine excels at ingesting, manipulating, and delivering small datasets with lightning speed, making it the perfect ally for streamlined processes.
*Source: IDC (International Data Corporation), 2023 Data Lake Survey (published June 2023)
2. Democratisation 2.0: Beyond Dashboards, Towards Empowerment
Data access isn’t enough anymore. 2024 is about equipping non-technical users to actively analyse and utilise data in their workflows. This goes beyond static dashboards to interactive tools like AB testing platforms and user flow analysis. This transformation in data utilisation is indicative of a broader trend in the industry, emphasising the importance of equipping every team member with the tools and knowledge necessary to leverage data effectively. As organisations increasingly recognise the value of democratising data, solutions like FME play a pivotal role. FME’s visual workflows and intuitive interface bridge the gap, allowing everyone to participate in the data-driven decision-making process.
3. Data Contracts: Trust, but Verify in the Cloud
With data proliferating across cloud platforms, ensuring its quality and governance becomes paramount. Enter data contracts – formal agreements defining how data is shared and used. This trend is likely to see a significant increase in adoption. FME’s data security features and integration with various cloud platforms make it the perfect tool to enforce these contracts, guaranteeing data integrity and compliance.
4. Operationalising AI: From Hype to Tangible Value
While the AI gold rush persists, the focus in 2024 shifts from mere exploration to the transformation of potential into tangible results. Companies are redirecting their efforts towards the operationalization of AI models, effortlessly integrating them into established workflows. This endeavour requires robust data pipelines and the adoption of agile deployment strategies. FME emerges as a key player, excelling in its capacity to connect disparate data sources and automate data flows. Positioned as the crucial bridge between raw data and operationalized AI, FME contributes to the creation of real-world value in the ever-evolving realm of artificial intelligence.
5. Location Intelligence: Beyond Maps, Understanding Places
Spatial data – think GPS, weather, demographics – is exploding. Location intelligence, leveraging this data to understand places and people, is poised for a significant increase. Global Location-Based Service (LBS) and Real-Time Location Systems (RTLS) market size is expected to reach USD 50.2 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 17.6%*
FME, with its powerful geospatial capabilities, lets you connect location data with your existing enterprise data, empowering you to make informed decisions based on where things happen.
*Markets and Markets. Location Based Service Market Report to 2027. Published January 2023.
The FME Advantage: Beyond Buzzwords, Building Agility
While others chase the next flashy trend, FME empowers you to navigate the real data revolution. Its core strengths – agility, efficiency, and user-friendliness – align perfectly with the hidden trends shaping 2024.
From small data optimization to AI operationalization, FME becomes your secret weapon in this data-driven race.