1 T DW I RESE A RCH
tdwi.org
TDWI INSIGHT ACCELERATOR
Tactics for Evolving a Modern, Cloud-Based
Data Platform for Financial Services
By David Loshin, President of Knowledge Integrity, Inc.
TRENDS IN MODERN DATA AND ANALYTICS
PLATFORMS
Organizations in all industries are assessing
their established data architectures to determine
whether they are ready to take advantage of
advanced analytics techniques such as text
analysis, machine learning, and AI. However, to
best evaluate readiness, one must understand the
context for data platform modernization. Based
on our research, organizational innovation in
enterprise data strategies and platforms reflects
three complementary trends in data and analytics
platform modernization.
Trend #1: The demand for modern/advanced
analytics continues to grow. Organizations are
increasingly interested in leveraging their large
collections of data and modernizing their data and
analytics environments to drive revenues, improve
decision making, and optimize operations. These
environments are intended to support use cases
for newer data types such as machine, text, and
image data, as well as other unstructured and
semistructured data from many data sources. The
objective is to build machine learning models
and integrate them into production systems and
applications. Organizations want to support data
scientists, business analysts, and business users
across diverse uses cases through the provisioning
of self-service data access. According to recent
TDWI research, over 65 percent of survey
respondents indicated that the demand for more
advanced analytics increased over the prior year
(Figure 1).
How has demand for more advanced analytics such as machine learning or text analytics changed in your organization
over the past year?
It has decreased significantly It has decreased slightly It has remained the same It has increased slightly It has increased significantly
50%
29%
40%
30% 37% 2% 1%
30%
20%
10%
0%
Figure 1. Demand for more advanced analytics, from TDWI Data and Analytics Survey 2021.
