Last week, we participated in one of the industry’s most exciting conferences. Our partners at Looker hosted JOIN 2019 in San Francisco, a two-day event that offered a unique opportunity to explore the latest in practical data skills, chat with peers, engage with fellow data enthusiasts, and mingle with leaders in the data-driven community.
1. Industry growth, by the numbers
For a start, we heard these three mind-blowing stats from Frank Bien, CEO of Looker, about the dazzling speed in which cloud solutions are being adopted:
- 500 BILLION worldwide spending in public cloud by 2023
- 100+ SaaS apps is the average number used by enterprise businesses
- 75% of databases deployed or migrated to a cloud platform by 2022
In the words of Frank, “data gravity has moved to the cloud at a remarkable pace.” With the exponential growth of cloud services, the flexibility and scalability they bring has customers hungry for more cloud-native solutions and better data processes.
2. Traditional BI is disappearing
The average age of a traditional BI platform is 28 years. Back then, enterprises didn’t rely on hundreds of marketing SaaS tools or third-party data applications. This has given birth to an entire industry, with platforms such as Rivery being more relevant than ever.
After all, if you can’t aggregate and align all your data sources efficiently, it’s impossible to get the insights you need.
Traditional BI is being overhauled faster than we thought. We’ve found that the decreasing market share of traditional BI platforms has experienced -2.8% 5 year CAGR.
3. Looking for better data insights solutions, wherever they might come from
The entire industry is seeking out new data experiences and looking forward to embracing technologies that help their businesses squeeze the most value out of their data – helping teams across all departments access the best business insights.
Another interesting growing trend is that data teams are beginning to create their own tools. Companies are exploring client performance bots, advertising buying bots and security monitoring apps that they develop in-house, leveraging data in new, creative ways.
In order to make this innovation happen, flawless data management and orchestration is paramount. In a way, it feels like we’re just seeing the tip of the iceberg for an industry that’s embracing the value of data like never before.
Back in 2017, The Economist cited that the world’s most valuable resource is no longer oil, but data. Spending a week in San Francisco with the brightest minds in the industry wasn’t only inspiring – it was also a reminder that the next frontier in the community will be creating the most efficient drilling wells for enterprises to extract insights from their vast ‘crude’ data mines.
We’re already looking forward to JOIN 2020, but in the meantime, we’re excited to see how the year unfolds for enterprises rethinking the way to take their data processes to the next level.