The introduction of cloud data warehouse has changed the world of data and how we interpret it. The volume of data is rising rapidly, as adoption of the latest technologies and their increasing client base become routine activities.
All of this has resulted in the growth of the global market for data warehousing.
What is Data Warehousing?
Organizations that can effectively leverage the power of Big Data can edge out competition if done correctly. However, this comes with the challenge of processing, storing as well as identifying a huge amount of data. This is where data warehousing has seen rapid growth.
A data warehouse refers to a data management system to enable and support activities related to Business Intelligence (BI), with more focus on analytics to manage large data volumes. These tools make it easier for enterprises to manage and analyze data seamlessly.
Data Warehousing and Cloud Computing in 2024
Storing data from multiple sources is the focal point of data warehousing, with businesses utilizing it to elevate data quality and foster better decision-making.
An Allied Market Research report put the global data warehousing market value to reach %51.8 billion by the year 2028.
Here are a few data warehousing trends in 2024 that you need to watch out for in 2024 and beyond:
1. Data Warehouse to the Cloud
A database powered by the cloud is now being offered as a management solution, with optimization for scalability, analytics, and ease of use. It’s one of the biggest reasons why companies are implementing cloud data warehouses in their business intelligence and data analytics projects.
The benefits of cloud data warehouse include:
- Flexible pricing: Cloud providers offer dynamic pricing and discounts to address customer requirements and budgets.
- Scalable and flexible: A cloud data warehouse offers immense flexibility to modulate data volume and processing capability requirements as and whenever required.
- Better performance: A cloud data warehouse comprises of multiple servers to share the data load. These multiple servers make sure that large data volumes can be handled parallelly without any interruptions. As a result, all business departments can access the relevant data to make intelligent decisions, boosting productivity.
- Availability of data: Consistent data availability is another big USP of a cloud data warehouse, ensuring more than 99% of data backup and fault tolerance.
2. Big Data Integration with the Warehouse
Big data integration is the use of people, suppliers, processes, and technology to collect and improve data usage from various sources to aid in better decision-making and support. Data warehousing will witness the integration of Big Data from the latter’s sources to help in the discovery of hidden patterns for generating valuable insights in the process.
Insights are critical to take decisions that optimize business operations, a significant step to forecast revenue and increase it in the process as well.
3. AI and Machine Learning for Operations
Artificial Intelligence (AI) and Machine Learning are now used in many operations across multiple sectors. From managing insurance claims to optimizing supply chains as well as detection of frauds, AI is everywhere and will stay everywhere in the time to come.
Smarter technologies do offer a lot of benefits in operations, but data experts also understand the large-scale implications through automation, increasing the issue of poor data. As the data volume for handling grows, it’s most prudent for enterprises to shift their operations to AI-enabled systems that are quicker and more efficient.
Data warehousing and AI are poised for an interesting future, that’s surely going to extend beyond 2024.
4. DataOps to Bring Continuous Improvement
DataOps delivers a collection of technologies, processes, as well as best practices to combine a process-oriented approach to data with Agile automation methods for software development. Continuous testing and development are employed in DataOps to better optimize the data flow and its automation, ensuring predictable data delivery in each sense.
As far as data warehousing automation is concerned, DataOps will indeed play a pivotal role when it comes to enterprise-scale warehousing, undoubtedly.
5. Smart Data Compression
Because data volume is constantly increasing with organizations, there’s a need to compress this data to free up more space in the process. There’s an increasing reliance on space conservation techniques and strategies to keep the ever-increasing storage costs in check.
With more storage capacity, quicker data transfers, and lower expenses on more storage, data compression is going to be a big trend in data warehousing automation.
Data Warehouse Optimization with Vertisystem Experts
With an end-to-end team of data engineering and warehousing experts, Vertisystem has been specializing in cloud adoption and strategies for varying scales and sizes to ensure a uniform and exciting experience for all stakeholders.
Easily schedule a call with our experts to understand more about the latest trends in technology and how you can futureproof your enterprise with solutions that speak innovation!