As far as organizations are concerned, data is one of the most important things that allows core decision making and determines the problem’s cause. The amount, variety, and sources of data are expanding, thus, needs for reliable, accurate, and prompt data for competitive intelligence on demand are also increasing in business. A data fabric provides a technical long-range approach to address the countless problems that exist in a dynamic data ecosystem. This converged infrastructure, built with a special architecture and data services package, is well suited to meet the numerous data management needs of a dynamic data ecosystem.
Numerous consumer touchpoints in the digital era demand the seamless flow of information for real-time insights and rapid decision making. A technical architecture like a data fabric provides a convenient process of analytics across different data repositories and application platforms.
Allied Market Research states that the data fabric market might reach $4546.9 million by 2026. Data Fabric Market by Deployment, Type, Enterprise Size, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2019-2026, validates that the data fabric market is expected to rise at a CAGR of 23.8 percent during 2019 and 2026, reaching a peak of $4,546.9 million by 2026.
The North American data fabric market is likely to “maintain its dominance” during this forecast time, as the cloud service providers market, the largest adopter of data fabric solutions, will also grow considerably in the same timeframe. The Data Fabric: An innovative Data Management Solution describes that to reduce ‘risks associated with varied data types, compromised data, inadequate storage, compliance failures, and security threats,’ the data fabric provides network tools for risk management, broad storage of multi-type data, single-point access to multi-source data, and single visualization of organizational data.
The major problem in traditional big data projects is the large volume and quality of the data used for analysis. A data fabric infrastructure’s versatility and flexibility allow for easy access to the right data at the right time which enables further analysis. As recent cases of big data use have proven beyond doubt that the game-changer was the big data fabric, as stated in Big Data Fabric: A Necessity for Any Successful Big Data Initiative.
The Big Data fabric service includes end-to-end data protection for an ordinary business user, combined with supported data integration and self-serve analytics capabilities. Modern companies thrive on the edge, but they need to leverage technology-enabled approaches across a variety of use cases in real-time. Such cases of use may be performing preventive maintenance research to avoid downtimes, follow up on consumer perceptions to forecast turnover, track markets for fraud detection.
Companies that consider themselves “data-driven” and have already developed sophisticated data management systems are likely to succeed more quickly than their rivals.
As technology and innovations continue to evolve, businesses will be encouraged to extend their data fabric to leverage new capabilities and meet new business needs.
