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DataArt Predicts 2014 Enterprise Software Trends

By CIOReview | Monday, February 3, 2014

New York: DataArt, a custom software development company, predicts that democratization of Big Data, wider acceptance of open source technologies, and data visualization will be the key trends this year.

Big Data technologies are set to have a stronger impact in the financial sector and other industries as well. With life sciences and healthcare firms already adopting Big Data analytics to better predict, diagnose and prevent diseases, 2014 will be all about merging data from different sources and leveraging it to improve health outcomes while also reducing healthcare costs. Likewise, travel and hospitality industry alongside the energy industry will also see increased use of Big Data to efficiently manage their businesses.

Data visualization is going to become interactive. With a new mobile technology allowing users to view critical data on multiple devices, data visualization is expected to see large-scale acceptance, enabling users to interact with and manage data in a variety of ways.

Open source technology will continue to grow. The increased use of cloud computing will contribute to open source technologies becoming more readily available to users, leading to increased collaboration and improved solutions across industries.

A greater push from the industry to use Machine to machine (M2M) technologies, such as mobile apps acting as keys, or remotely controlling room temperature and facilitating check-ins, will help enhance customer experiences in the hospitality sector. The life sciences segment is also to see a rise in the usage of sensors that can automatically track health parameters, including pulse, temperature and electrocardiography. M2M is also likely play a large part in bringing medical device cyber-security in compliance with the latest Food and Drug Administration (FDA) guidance.

Financial services firms will rapidly embrace reporting technology. In the face of the increased industry regulation, new solutions will emerge to help firms tackle the dynamic reporting requirements this year. In order to minimize the cost of adhering to regulations, firms will resort to using off-the-shelf and custom technologies to facilitate automatic aggregation of data.

Monitoring technology will reach a new level. As more companies are fined and investigated for insider trading, firms will begin to systematically analyze these records to identify suspicious behavior. Technologies that transfer voice to text and then analyze the psychological behaviors of traders will be used more frequently.

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