Data Integration Industry: Emerging Trends
Innovation is the keyword when it comes to data integration. Things are constantly evolving, and part of being in the industry is keeping up with the trends. Businesses that innovate and follow current trends always have the edge over others that don’t, so it’s important to keep abreast of possible changes and maintain your business on the top.
Table of Contents
According to a survey by Verified Market Research, the data integration market size is expected to reach $22.28 billion by 2027 at a CAGR of 13.88% from 2020 to 2027. This market is primarily composed of healthcare, banking, manufacturing, and retail industries. Moreover, the top players of the global data integration market are Microsoft, Cisco, and Oracle.
You may ask: what is data integration, and why is it important? Moreso, what are the emerging trends surrounding this industry and the top data integration tools to use?
Table of Contents
- What’s Data Integration?
- Importance of Data Integration
- Emerging Trends in the Industry
- Have You Already Adapted These Data Integration Trends?
What’s Data Integration?
Data integration is defined as a process that allows data coming from different sources to be viewed together. There are many ways to integrate data, and each company’s needs may be different from one another. Thus, what works for one company may not work for the other and vice versa.
Despite the sheer variety of options available in the market, businesses are all bound by common trends emerging regularly. These trends often prove to be beneficial to everyone involved, while sometimes the opposite will occur. Still, it’s useful to know the current facts and statistics of data integration to decide how to use them to your business’s advantage.
Importance of Data Integration
Many businesses integrate their data one way or another through data integration tools. In fact, data integration existed long before the internet was a thing, even though it wasn’t necessarily called as such. So, why is data integration important?
If data wasn’t integrated, you’d have to manually collect all information from wherever they’re stored and collate it yourself. Say for example, if you want to see how many customers bought your product and your data isn’t integrated, you’d have to manually locate their orders, track the dates, and maybe even locate the number of returns. This can be time-consuming and will slow down your workflows.
Integrating your data also means you have all the information you need at your fingertips, whenever and however you want it. There are different data integration techniques and practices, such as real-time integration where data is integrated as soon as it enters your system. In choosing your data integration process, it’s important to know what your needs are, and how you want your system to respond.
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Emerging Trends in the Industry
As discussed above, trends emerge all the time in the data integration market. And it’s not surprising in an industry where everyone is consistently trying to innovate and improve. Below are some of the top trends for the data integration industry.
- Artificial Intelligence and Integration
- Real-Time Data Integration
- Large Data Platforms
- Data Security
- Push for Customer Experiences
1. Artificial Intelligence and Integration
Data integration, for the most part, necessitates the use of manpower. People are needed to set up, operate, and tinker with the systems. Without manpower, data integration wouldn’t simply be possible. One interesting trend that’s emerging, however, is the use of artificial intelligence in data integration. As revealed by Semrush’s statistics, companies are predicted to have an average of 35 AI projects in 2022.
AI is useful in providing insight and analyzing data. This technology is especially helpful for companies dealing with large amounts of data and information. Moreover, AI improves a business’ manpower because it allows your workers to focus on more important tasks like making sure your systems run smoothly.
The AI development isn’t to say, however, that manpower will be eliminated entirely from the data integration industry. There are still plenty of roles for people to fulfill, such as supervisory and governance roles. In fact, it’s probably a long way before AI fully takes over data integration.
2. Real-Time Data Integration
With the rise of high-speed connections like 5G and various ERP software systems, it’s now possible to integrate data in real-time, even larger ones. This update is essential for industries that need to collect and deliver information as they happen, and of which a matter of minutes could spell the difference between success and failure.
Even smaller industries might benefit from this as it would save time and manpower. Real-time data integration is also important for businesses catering to customers worldwide with different locations and time zones.
With the sheer amount of platforms available online, one of the constant challenges has been to collate and integrate data into something easily accessible and understandable. Thanks to the emerging data integration trends, it’s no longer impossible to integrate data from different sources and platforms.
In fact, many data integration tools and techniques actively consolidate information from diverse platforms. If this trend continues, we might see data integrated easily despite being located on different resources.
4. Large Data Platforms
Another trend that has been rising lately is the emergence of “data lakes” or platforms that boast large amounts of data at their fingertips. These sites can be valuable for businesses storing large amounts of data and information.
Just imagine, if the data from these so-called “data lakes” were integrated into consumer systems, companies would have incredible information on hand. They can easily identify patterns, predict trends, and even manipulate data to their advantage. Moreso, having access to large data platforms also means having access to a larger customer database.
5. Data Security
With all the confidential data at your disposal, it’s important to keep them safe. As per a report by PurpleSec, 63% of successful data breach attacks come from internal sources, either errors, control or fraud. This can be alarming not only to company owners but also to your consumers.
In addition to compromising your business plans and interests, it will also be a massive blow in your organization’s user confidence if your data was found to be not safe. Therefore, the increasing trend in data security is just essential and concurrent with the large amounts of data being dealt with.
6. Push for Customer Experiences
Aside from prioritizing a better experience for companies belonging to the data integration industry, there’s also a push towards delivering a context-driven support experience for customers.
When customers have better experiences, they’re more likely to share their personal information and suggestions with the industry. On the other hand, a traumatic experience might lead consumers to be more secretive and careful about their personal identity. Hence, it’s important to make customers trust the data integration industry because it will lead them to what they need most—more data and enhanced security.
It’s also not surprising that more and more entities in the industry are prioritizing customer experience and investing in various ETL tools. This is to ensure that improvements in the data integration industry will bounce back and improve the whole experience for the consumer.
Have You Already Adapted These Data Integration Trends?
Data integration will continue to be an essential part of business innovations, and more data integration and transformation tools will be available online. What trends have you already adapted, and what are the ones you see fit for your company? Hop into the wagon now and make sure you’re ahead of your competitors while keeping up with the current technology trends. If you’re looking for an all-in-one automated solution, that will not only help you transfer data but also transform it into analysis-ready form, then Hevo Data is the right choice for you!Visit our Website to Explore Hevo
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Now that you have an idea about the top emerging trends in the Data Integration Industry, let us know your thoughts/questions in the comments section below.