4 Data Trends to Look Out For in 2024
With each passing year, data volumes grow exponentially, and organisations across the world are looking for effective strategies to manage and harness the power of this data. As innovation shapes the landscape of tomorrow, staying ahead is not only an advantage but a necessity. Experts from our technical solutions team have identified the four important trends that are set to shape the way we handle and leverage data.
From the increasing interest in knowledge graphs due to AI to the growing importance of cybersecurity, let’s take a look at the key data trends that organisations must know to stay ahead of the curve.
Semantic Enrichment: The Rise of Knowledge Graphs and Ontologies
Allan Watkins, Sr Technology Solutions Consultant
In the field of data management, there’s a growing interest in Ontologies as tools to formalise the semantic environment in which data operates combined with the opportunity to connect the two together using Knowledge Graphs. Although there exists a challenge of quantifying the benefits of these tools, a strong business case has been emerging with the support of AI and Large Language Models (LLMs). Retrieval Augmented Generation, a fusion of contextual information and AI, could revolutionise how we document business context.
This trend promises not only to enhance the technical metadata but also to provide a valuable semantic layer, making data more meaningful and beneficial for Data Governance and Management.
Data Recoverability: A Paradigm Shift in Ransomware Recovery
Dan Irven, Sr Technology Solutions Consultant
There has been a paradigm shift in businesses’ approach to ransomware attacks. Instead of solely focusing on preventing such incidents, organisations are adopting a ‘not if, but when’ perspective. The new posture emphasises rapid recovery planning, acknowledging the inevitability of cyber threats. In a world where cyberattacks are becoming more sophisticated, this shift is essential for businesses to ensure the continuity of their operations and safeguard their data.
Global Data Compliance Surge: Navigating Legislative Actions for Operational Resilience
Aysha Aziz, Technology Solutions Consultant
In 2024, a prominent data trend that we could witness is a surge in legislative actions and heightened compliance standards globally, driven by concerns over data privacy, cybersecurity, and ethical business practices. The growth of digital technologies, increased reliance on data-driven decision-making, and the rise of novel business models have necessitated comprehensive legal frameworks to safeguard individuals’ privacy, ensure fair competition, and mitigate potential risks. Governments and regulatory bodies are actively responding to the evolving technological landscape, especially in fintech, healthcare, and artificial intelligence.
This trend places a growing onus on businesses to stay updated and comply with an expanding array of regulations, making regulatory compliance a crucial consideration for organisational sustainability and growth in the foreseeable future. Consequently, organisations are moving into a space of building a cohesive programme to streamline processes and build operational resilience.
Hypervisor Diversity: Shaping the Infrastructure Layer
Stephen Morgan, Technology Solutions Consultant
There has been a recent trend at the infrastructure layer where data is managed.The recent acquisition of VMware by Broadcom has disrupted the hypervisor market, challenging VMware’s long-standing status as the default choice. This uncertainty has prompted small and medium enterprises to explore alternatives like Microsoft Hyper-V, RedHat, Nutanix AHV, Virtuozzo, ProxMox, KVM, and even consider the reemergence of once-discontinued hypervisors like XenServer. Veeam and other major vendors are now researching compatibility with various platforms, with a notable focus on ProxMox, a less widely used hypervisor in enterprise settings.
This shift not only dilutes the hypervisor landscape but also signals a potential acceleration in the adoption of containers for mainstream workloads, reflecting a broader transformation in how infrastructure is approached and managed.
Navigating tomorrow’s landscape
Although the data landscape is ever-evolving, these four trends offer an insight into what to expect this year, where knowledge graphs and AI, cyber resilience, operational resilience powered by legislative evolution, and hypervisor diversity will play pivotal roles. Organisations that adapt and harness these trends are poised not only to survive but thrive in the data-driven era. As technology continues to evolve, staying vigilant and proactive is the key to unlocking the full potential of data in our increasingly interconnected world.
Found this blog post helpful? Explore these additional resources for further insights:
- Blog: From Chaos to Clarity: How Technical Data Lineage Enhances Data Management
- Blog: Ransomware Recovery: The Importance of Object Storage
Ready to navigate the future of data? If you’d like to dive deeper into these trends or discuss how our experts can assist your organisation in implementing these strategies, we can help you get started: