The 7 Data trends

of 2023

CATEGORY

Shapelets

CATEGORY

Shapelets

CATEGORY

Shapelets

CATEGORY

Data Science

DATE

23 December

 TIME

   5 Minutes

As we approach 2023, it’s important to stay up-to-date on the latest trends and developments in these areas.  

Data science and analytics are rapidly evolving fields that have the power to transform the way businesses operate and make decisions.

 

clement-mercier
DATA INGESTION

Article by Clement Mercier

 

But, do you know all of them? Read further and be ready! 

According to a recent article, we can expect 7 key trends to shape the data science and analytics landscape in the coming year. These trends include the rise of automation and self-service tools, the increasing importance of data ethics and governance, the growing role of artificial intelligence and machine learning, the emergence of hybrid cloud architectures, and the importance of real-time data processing. In addition to these trends, there is also an increasing focus on time series data and data ingestion. Time series data, which refers to data that is recorded at regular intervals over some time, is becoming increasingly important as more businesses look to track and analyze trends and patterns over time. Similarly, data ingestion, or the process of collecting and importing data from various sources, is becoming more critical as businesses seek to integrate data from a wide range of sources and platforms.  

The data trends 

These trends have the potential to greatly impact the way businesses collect, process, and analyze data, and organizations need to stay informed and adapt to these changes to remain competitive in 2023. Let’s review each of them!

 

1. Data ingestion

Ingestion of data has evolved into a critical component of the AI and Data Science workflow. Data must first be cleaned, transformed, and loaded into an analysis system before it can be analyzed. This process can be time-consuming and resource-intensive, and data professionals require specialized skills, so businesses should invest in them. 

In the field of AI and Data Science, a variety of tools and technologies are used for data ingestion. Data can be ingested from a variety of sources, including social media, IoT devices, and weblogs, using these tools. 

The growth of AI and Data Science has also led to an increase in the use of cloud-based platforms for data storage and analysis. These platforms, such as Amazon Web Services (AWS) and Microsoft Azure, enable businesses to store and analyze massive amounts of data without requiring costly on-premises infrastructure. This has made AI and Data Science more accessible to organizations of all sizes, resulting in even more growth in the field. 

Overall, the increasing amount of data generated and the need for professionals who can analyze and extract value from this data have driven the adoption and expansion of AI and Data Science. In this process, efficient data ingestion is critical, and the use of the right tools and technologies, as well as best practices, has helped to ensure the accuracy and integrity of the data being collected. With the continued growth of AI and Data Science, the optimization of data ingestion will most likely remain a key focus for businesses and organizations. 

2. The rise of automation and self-service tools

Because data volumes continue to grow and the demand for faster and more accurate data analysis grows every day, automation and self-service tools are becoming increasingly important in the field of data science and analytics. 

These tools allow users to access and analyze data with no need for specialized technical skills, making it easier for businesses to leverage data insights to inform decision-making and drive growth. Automation tools can also help reduce the time and resources required for data processing and analysis, freeing up data professionals to focus on higher-value tasks. 

3. Time series database management systems 

The global time series database software market is expected to see significant growth in the coming years, according to a recent MarketWatch research report.  

Time series data, which refers to data recorded at regular intervals over some time, is becoming more popular in industries such as finance, healthcare, and manufacturing. The increasing adoption of the Internet of Things (IoT), as more devices are connected to the internet and generate large amounts of data that require efficient storage, management, and analysis, is one factor driving this growth. Time series databases, which are specifically designed to handle large amounts of time series data, are well suited to meet this requirement. 

Time line DBMSs are specialized databases that can rapidly ingest, manipulate, and aggregate data based on its position in a time series. They are especially useful for IoT and financial systems, where the ability to process and analyze large amounts of time-stamped data in a timely manner is critical. This means that time series DBMSs can store detailed data for a set period of time and then generate aggregations based on that data over a longer time frame, as well as compare and analyze data from multiple time streams. 

The growth of IoT data sources has fueled interest in time series DBMSs, and major cloud providers such as Microsoft and Amazon Web Services have begun to provide them. Overall, the market for time series database software appears to be poised for significant growth in 2023 and beyond. Businesses in a variety of industries will likely turn to time series databases to meet their needs as IoT, AI, and machine learning become more widely adopted, as well as the growing need for efficient data management and analysis. 

4. The increasing importance of data ethics and governance 

As companies place a greater emphasis on data ethics and governance, the value of data remains a strategic asset. This trend is being driven by the need to ensure the integrity and security of data, as well as to address privacy and data use concerns. Establishing policies and procedures to ensure the ethical collection, storage, and use of data, as well as implementing security measures to protect sensitive information, are all part of data ethics and governance practices. 

5. The growing role of artificial intelligence and machine learning  

Businesses that want to gain a competitive advantage through data-driven decision-making are increasingly turning to artificial intelligence (AI) and machine learning. These technologies enable the automation of data analysis tasks, allowing businesses to process and analyze large amounts of data quickly and accurately. AI and machine learning technology adoption is expected to increase further in 2023, with businesses of all sizes looking to leverage these technologies to improve efficiency, drive innovation, and make more informed decisions.

6. The emergence of hybrid cloud architectures:  

In 2023, hybrid cloud architectures are expected to become more usual, combining the scalability and flexibility of cloud-based solutions with the performance and security of on-premises systems. The need for businesses to take advantage of the benefits of both on-premises and cloud-based solutions is driving this trend. Hybrid cloud architectures enable businesses to store and process data in the most efficient way possible, allowing them to scale up or down as needed and access data from any location with an internet connection. 

7. The importance of real-time data processing:  

The proliferation of connected devices, as well as the rise of the Internet of Things (IoT), are generating massive amounts of data that must be analyzed in real-time in order for businesses to make timely and informed decisions.  

This trend toward real-time data processing is expected to continue in 2023, with companies looking to harness the power of real-time data to improve efficiency, drive innovation, and make better-informed decisions. Businesses with real-time data processing capabilities can analyze data as it is generated, allowing them to respond to changing conditions and opportunities in real time.

Shapelets   CONCLUSION

As we review in this article, the data science and analytics landscape will definitelly have significant changes in 2023. These trends will cover different aspects of the data science and data management fields, such as the rise of automation and self-service tools, the increasing importance of data ethics and governance, the growing role of artificial intelligence and machine learning, the emergence of hybrid cloud architectures, and the importance of real-time data processing shaping the market.  

Data ingestion will also become increasingly critical as businesses seek to integrate data from a wide range of sources and platforms. In addition to the tools and technologies being used for data ingestion, there are also several best practices that data professionals follow to ensure the accuracy and integrity of the data being collected.  

In general, these trends have the potential to greatly impact the way businesses collect, process, and analyze data, and organizations need to stay informed and adapt to these changes to remain competitive in 2023. 

For this purpose, companies need to help their data teams with effective tools in order to optimize their work and resources. With this goal in mind, we created Shapelets a few years ago to provide a powerful data science framework designed to help teams efficiently manage and analyze large amounts of data from the early stages of collection and ingestion to storage and value extraction.  

How do we do this? By offering real-time monitoring capabilities, machine learning automation, and recommendations, Shapelets is an all-in-one tool that offers a solution at every step of the data processing cycle. 

In fact, one of the standout features of Shapelets is its ability to be deployed on a variety of platforms, including local computers, the cloud, and on-premise infrastructures. This versatility allows teams to use the tool in a way that best fits their needs and resources. Additionally, Shapelets includes its storage engine that is optimized for time series data and can connect with various data stores, including common streaming data services. 

In terms of processing capabilities, Shapelets incorporates highly efficient implementations of state-of-the-art algorithms for time series prediction, classification, and anomaly detection. Moreover, it allows users to use their preferred python libraries or even their own code implementations, seamlessly deployed in computing clusters for maximum performance through distributed execution. 

For all these reasons, Shapelets is a unique and valuable tool for businesses and data professionals alike, providing the ability to easily visualize and capture relevant information from vast amounts of time series data in real time. Its comprehensive approach to data management and processing makes it a powerful choice for data teams looking to transform and empower their organizations toward data-driven models. 

 

Do you wish to know more? You can contact us for further information or a quick demo today!  

We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners. View more
Cookies settings
Accept
Privacy & Cookie policy
Privacy & Cookies policy
Cookie name Active
We use cookies on our website. These are small files that your browser will create automatically and that are stored on your end device (laptop, tablet, Smartphone or similar) when you visit our website. Cookies do not cause any damage to your end device, contain no viruses, Trojans or other harmful software. The cookie is used to store information that results from the respective context of the specifically used end device. However, this shall not mean that we directly gain knowledge of your identity this way. Use of cookies serves to make use of our offer more pleasant for you. We use session cookies in order to recognise that you have visited individual pages of our website before. They will be deleted automatically after you leave our website. Furthermore, we also use temporary cookies to optimise user friendliness, which are stored on your end device for a certain specified period. When you visit our website again in order to use our services, it will be automatically recognised that you have visited us before and which input and settings you have made so that you will not have to enter them again. On the other hand, we use cookies in order to statistically record use of our website and to evaluate it for the purpose of optimising our offer to you (see section 5). These cookies enable us to recognise that you have visited us before if you visit our website again. These cookies are deleted automatically after two years in each case. The data processed by cookies are required for the purpose of maintaining our legitimate interests and those of third parties according to Article 6(1)(1)(f) GDPR. Most browsers accept cookies automatically. You may, however, configure your browser so that no cookies will be stored on your computer or that you will always be informed before a new cookie is set up. Complete deactivation of cookies may, however, render you unable to use all functions of our website.
Save settings
Cookies settings