A New Architecture to Manage Data Costs and Complexity
A new market research report, led by independent research firm Boston Consulting Group, explores organizational challenges related to exponential growth in data volumes and rapid innovation across the data stack. The research indicates that organizations are facing an unprecedented perfect storm of data volume complexity, velocity and cost to support business-critical analytics and AI initiatives. Furthermore, organizations can take a more specialized approach to individual data workloads through a services-oriented architecture that promotes flexibility and access to empower both business and technical users.
The research examines three main trends reshaping the data landscape:
- The volume and velocity of data are increasing: the volume of data generated will rise at a compound annual rate of 21% from 2021 to 2024, reaching 149 ZB
- The exciting new trend and growth of “citizen data scientists”: the adoption of open, accessible architectures to empower self-service analytics and unlock specialized data use cases
- New data technologies are shifting data economics: the ability to use software to apply compute to any storage format and location promotes architectural freedom and lowers costs
Despite the challenges, organizations that are able to adapt and evolve their data stacks quickly, will determine the winners of tomorrow.
Download the study and learn more about the research report.
