Data is one of the most valuable assets businesses can leverage and will drive digital agendas in 2019, with a focus on rapid analysis and use, says data management firm PBT Group executive Kevin Kemp.
It is at the forefront of most digital and technology business strategies, and allows for analytics and artificial intelligence (AI), with a focus on effectively harnessing the power of data, he says.
The firm predicts that concepts such as edge computing, which can make AI viable or support AI functions, will mature in the local market during the year and will likely receive greater attention from businesses.
“The ability to analyse data as close to the source as possible using edge computing provides business with significant benefits. It reduces not only the need to move data but also data latency and the costs associated with working with the data, all of which improve accuracy and reduce data duplication,” Kemp explains.
This will result in a combination of edge computing and AI, with AI providing the analytics support function for strategic business outputs. As this use case matures, Internet of Things (IoT) systems become more practical and feasible for business.
Companies will probably consider IoT use cases more closely this year to leverage their data more effectively, adds Kemp.
However, cybersecurity is a consistent and growing threat to data use cases. Businesses should not invest in edge computing without some form of data security strategy in mind, he warns.
The ability to leverage raw data does not come without challenges. Data security, governance and regulatory matters are highly relevant to the industry and must receive increased focus in 2019, he explains.
“Initiatives tackling cybersecurity and data protection strategies are crucial, and more important than merely being compliance issues. Rather, they are essential to protecting a business’s unique value proposition, which is mostly found in the data.”
Meanwhile, cloud services will become more attractive for businesses as security concerns intensify.
With plans for local data centres on the horizon, larger adoption of cloud-based managed services is expected. More companies will be open to hosting their data within local, fixed data centres for controlled security management. Further, companies that want to benefit from edge computing will also work closely with cloud service providers to access flexible and agile data storage solutions, he adds.
“With data driving business investment and playing a pivotal role in sustainability strategies, any technology that uses data to provide valuable outcomes will garner attention. Businesses that continue to invest in their data management strategies will capitalise on the most relevant trends for their business to achieve growth.”