Discover What's In Store for the Future of Modern Data Stack

Our concept of data has changed in nearly every way as businesses have undergone digital transformation in recent years.

07:43 28 March 2022

Our concept of data has changed in nearly every way as businesses have undergone digital transformation in recent years.

 

Not only is there more data to harvest and analyze, but the necessity of those actions is greater than ever. Even a small ecommerce shop can't afford to neglect its data stack, for risk of falling behind the competition and missing serious profit opportunities.

 

But what exactly does this modern data stack look like, and how has it changed in just the past decade? Let's look at what makes the modern data stack so powerful, and what the future holds for this key success factor.

 

What is the Modern Data Stack?

Data collection and analysis have been pillars of business optimization for years. But only recently has this "stack" of data become bigger, broader, and more complex.

 

The need for quick organization and processing is also more urgent and time-sensitive as companies are competing fiercely for market share around the clock.

 

The result has been an ongoing surge of innovation in the data stack from end to end, with a few main trends sparking change at scale.

 

Firstly, data storage has become far more accessible in a technical sense, with lower costs to boot. Businesses no longer need vast on-premise storage hardware to keep their data in warehouses thanks to cloud services.

 

The same principle applies to the cost of computing, bandwidth, and other technical necessities that once bottlenecked that data transformation process. For a monthly fee, brand-new startups with minimal capital have enterprise-level computing within arm's reach and gain a keen competitive edge.

 

Finally, the number of data sources has increased exponentially in a few short years. Marketers, sales teams, support squads, and administrators all have a range of apps that produce data constantly, and the modern stack must address this volume and variety.

 

Who Benefits from the New Data Stack?

As the data stack expands and improves, there are beneficiaries throughout the organization and beyond.

 

Engineers

These are the technicians responsible for storing, processing, and bringing data to the front-line team members who need it ASAP.

 

The more streamlined and powerful their tech tools, the more impact an engineer can make with less time in the trenches.

 

Analysts

To some degree, everyone plays the role of analyst in the modern business environment.

 

From marketing teams to researchers, developers, designers, and customer support staff, there are always clues hidden in data that can reveal faster, more effective strategies.

 

With the streamlined modern data stack, analysis becomes second nature without technical barriers to entry. This empowers leaders and users across the business to work smarter and adapt to challenges far more quickly.

 

Customers

Ultimately, customers and clients benefit most of all from the insights garnered through modern data methods.

 

Products and services are made stronger and more consistent, and steps of fulfillment, logistics, and support become supercharged with far less margin for error.

 

In turn, this attracts more customers into the fold and naturally grows a business over time.

 

What the Future Holds

The modern data stack is powerful and impressive in every way, but there's plenty more to come.

 

Here are some trends we anticipate will further transform the modern data stack and make life better for both companies and customers.

 

More Sources

Salesforce, Hubspot, and Mailchimp are just the basics. There are hundreds more data sources that companies must be prepared to incorporate into the modern data stack moving forward.

 

The more effectively these sources can be integrated and made useful with business intelligence tools, the more transformative results can be attained.

 

Higher Volume

More data sources mean more data, and a broader variety of data types as well. Dealing with higher volumes is more resource-intensive, and requires knowing which data to take or leave behind.

 

Intuitive UX

Now that everyone is an analyst by necessity, data stacks must be relatively easy to use with minimal technical training.

 

Operations, marketing, sales, product, and support all need to quickly learn the ropes, making plug-and-play solutions even more crucial.

 

Faster Processes

Every minute spent waiting to integrate a new data source or analyze info is a minute wasted. Faster data organization and analysis saves time and lets team members work rather than wait.

 

Better Outcomes

The lesson of the modern data stack is that there is always room for improvement. From the data warehouse to the transformation process and front-line user experience, everything can be streamlined and accelerated.

 

These small improvements may not be apparent at first, but will soon compound into tons of saved time, money, and resources.

 

Unlock the Potential of Your Data Now

No matter the size or type of your company, you're likely missing out on hidden gems within your data warehouse. Rethink your modern data stack and prepare for an even more data-driven future.