The need for data-driven decision-making requires organizations to transform not only the approach to business intelligence and data science but also accelerate the development of new operational applications that support greater business agility, enable cloud- and mobile-based consumption, and deliver more interactive and personalized experiences. To stay competitive, organizations need to prioritize the development of new, data-driven applications. As a result, many have been encouraged to invest in new data platforms designed to support agile development and cloud-based delivery. This is one of the factors driving the growth of MongoDB, and continues to drive the evolution of its document database into what is now described as a cloud-based application data platform.
Data lakes have enormous potential as a source of business intelligence. However, many early adopters of data lakes have found that simply storing large amounts of data in a data lake environment is not enough to generate business intelligence from that data. Similarly, lakes and reservoirs have enormous potential as sources of energy. However, simply storing large amounts of water in a lake is not enough to generate energy from that water. A hydroelectric power station is required to harness and unleash the power-generating potential of a lake or reservoir, utilizing a combination of turbines, generators and transformers to convert the energy of the flowing water into electricity. A hydroanalytic data platform, the data equivalent of a hydroelectric power station, is required to harness and unleash the intelligence-generating potential of a data lake.
Breaking into the database market as a new vendor is easier said than done given the dominance of the sector by established database and data management giants, as well as the cloud computing providers. We recently described the emergence of a new breed of distributed SQL database providers with products designed to address hybrid and multi-cloud data processing. These databases are architecturally and functionally differentiated from both the traditional relational incumbents (in terms of global scalability) and the NoSQL providers (in terms of the relational model and transactional consistency). Having differentiated functionality is the bare minimum a new database vendor needs to make itself known in a such a crowded market, however.
Enterprises looking to adopt cloud-based data processing and analytics face a disorienting array of data storage, data processing, data management and analytics offerings. Departmental autonomy, shadow IT, mergers and acquisitions, and strategic choices mean that most enterprises now have the need to manage data across multiple locations, while each of the major cloud providers and data and analytics vendors has a portfolio of offerings that may or may not be available in any given location. As such, the ability to manage and process data across multiple clouds and data centers is a growing concern for large and small enterprises alike. Almost one-half (49%) of respondents to Ventana Research’s Analytics and Data Benchmark Research study are using cloud computing for analytics and data, of which 42% are currently using more than one cloud provider.