This article appeared on TDWI
Databases are at the same time one of the most critical and one of the most innovative disciplines in all of IT. At the heart of every technology stack, databases drive the enterprise’s productivity and ultimately its top-line.
Let’s take a look at the most important trends for 2023 that will likely dominate the landscape of data management.
Everybody goes cloud — even the financial services industry
JPMorgan Chase’CEO, Jamie Dimon, famously stated in early 2022 “If we can spend $2 billion more and get to the cloud tomorrow, I would do that in a second” when asked just how important public cloud is for his organization.
Of all industry sectors, the financial services industry (FSI) has held out the longest in staying with their data centers. And for good reason. Their data centers are basically highly developed private cloud; tricked out technology playgrounds optimized for select use cases.
However, by now, public cloud has simply out-innovated its private cloud counterpart. Economies of scale and fierce competition between providers created a race to the bottom — much to the customers’ delight.
That banks are finally pushing into the cloud is testament to the fact that data management in public cloud is unmatched otherwise and managed cloud databases present an incredibly powerful ROI.
Counter to common believe, most enterprises are still holding off from moving their data crown-jewels into the cloud. However, we are clearly approaching a tipping point. The early adopters are already moving — and everybody else will too, soon. 2023 shapes up to be the year of the cloud database.
Read the full article here.