Data technology is the technology connected to areas such as martech or adtech. Data technology sector includes solutions for data management, and products or services that are based on data generated by both human and machines. DataTech is an emerging industry that uses Artificial Intelligence, Big Data analysis and Machine Learning algorithms to improve business activities in various sectors, such as digital marketing, or business analysis. The sector is represented by companies, such as , , or .
Key areas
Data technology has been used to managebigdata sets, build solutions for data management and integrate data from various sources to discover new business or analytical insights from collected information. Growing global amount of generated data determines spendings on technologies that help control data assets. The big data market is expected to reach $156.72 billion by 2026. Spendings on data, including data technologies, in digital marketing reach $26.0 B in 2019 globally. Data technologies include various solutions that are focused on data. These technologies are developed to help manage data generated by human or by machines, which will be 200 billion by 2020. Data technologies aim to manage growing data streams, get valuable insights from data and find solutions to integrate the most important data sources for companies and organizations. Therefore, key areas for DataTech sector are:
Data Integration - services that match the data from two or more sources to get more information about stored data. If company collects user data in Customer-relationship management system, it can enrich it with the data from external sources to create 360-customer view.
Building strategic data ecosystem - service that allow to build data ecosystem in organization, by identifying and choosing the right data sources, integrating data and preparing adequate analytical algorithms to discover new insights about customers.
Internet of Things - products and services that helps store and manage data generated by machines.
