Datafication involves turning various aspects of our lives into devices or software driven by data. Essentially, it is the conversion of human activities and tasks into technology powered by data. Whether it’s our smartphones, industrial machines, office applications, or AI-powered appliances, data is a persistent presence. As a result, the secure and proper storage of data has become a highly sought-after specialization in our economy.
Areas of developments in 2024 may include:
- Increased Integration of Data in Decision-Making – improved decision-making process,
- Advanced Data Analytics and AI – integration of sophisticated algorithms for processing and deriving insights from large datasets,
- Focus on Data Privacy and Security – enhanced rules and regulations to protect individuals’ data and maintain trust in data-driven systems,
- Data-driven Innovation – leveraging data for new products, services, and business models; use data to enhance customer experiences, streamline operations, and drive innovation,
- Ethical Considerations – new ethical guidelines and frameworks to ensure responsible data practices,
- Edge Computing for Data Processing – reduction of latency and enabling real-time insights leading the way for improved processes in the field of Industrial Internet of Things (IIoT),
- Personalization and Customer Insights – better customer understanding leading to improved tailor-made products, services, and marketing strategies,
- Education and Skills Development – improved expertise in data analytics, machine learning, and related fields leading to a better UX.