How Data Fabric enables the Metaverse
As emerging technologies and trends continue to shape the future of the digital world, product leaders must stay informed on the latest developments and evaluate their impact on their roadmap. One such trend is the Metaverse, a virtual shared space where users can interact with each other in a seamlessly integrated digital and physical environment.
According to the Emerging Tech Impact Radar: 2023 report from Gartner, by 2026, 25% of people will spend at least one hour a day in the Metaverse for work, shopping, education, social and/or entertainment purposes. In this post , we’ll explore the importance of investing in metaverse-enabling technologies and how data fabric plays a critical role in it.
The importance of investing in metaverse-enabling technologies
The Metaverse will evolve over three distinct overlapping stages each with their own set of trends, technologies and opportunities. Currently, and according to Gartner’s report, we are in the emerging stage.
As the Metaverse advances technologically, it’s important for companies to have a plan to take advantage of its potential. This plan should include identifying the technologies and partnerships needed to succeed at different stages of the Metaverse’s growth.
By investing in Metaverse technologies that add value to their products or services, companies can improve the user experience, stay competitive, reduce risk and improve security and create new business opportunities.
In addition, the Metaverse offers companies the opportunity to have a new sales channel through which to reach their customers, providing a unique way to connect with audiences and sell products or services in a fully immersive environment.
This means that businesses that invest in Metaverse-enabling technologies now, will be well-positioned to reap the benefits of this emerging trend in the years to come. To be ready for a future where the Metaverse becomes a central part of the digital landscape, businesses should follow these steps:
- Create a Metaverse strategy by making a plan that clearly shows which technologies and partnerships are needed to make the Metaverse useful in different stages.
- Decide which metaverse-enabling technologies to invest in by focusing on those that will add value to your products or services. While virtual reality and head-mounted displays are popular, they still have limited uses.
- Explore new business and monetization models that the Metaverse could make possible. Focus on using technology in new ways to create value and disrupt old business models.
According to Óscar Méndez, CEO of StratioBD and leading thinker in the data management space, the Metaverse will be a big part of our lives and businesses in the next few years, with more investment going into it than the space race.
Méndez also notes that the current generation of teenagers is already spending a considerable amount of time in the Metaverse, playing games like Minecraft and other similar virtual worlds. As these teenagers enter the workforce and become the main consumers of services and assets in the next 5-10 years, they will expect to continue this experience in their professional lives.
The question then arises: are businesses ready for the Metaverse? Can they afford to ignore this trend?
Data Fabric: A key metaverse-enabling technology
The Metaverse is a virtual space that allows users to interact with objects, people, and companies in a shared virtual space. This will create a digital layer that overlaps with our physical reality, giving physical objects more information and context. The digital layer will also include things that don’t exist in the physical world – such as simulations, stories, and games.
To make this possible, we’ll use artificial data to create better models and understand how things interact, even when we can’t directly observe them. In the coming years, businesses should transfer their data to a layer that can convert it to the metaverse-specific ontology, allowing it to work seamlessly across any Metaverse and with all users.
This is why data fabric plays such a crucial role in enabling the Metaverse. It is the only technology that can map data to the Metaverse ontology, which makes the Metaverse more immersive and interactive by allowing different systems to work together smoothly.
Méndez describes data fabric as:
a revolution in data management – it allows for the creation of a unified data layer in an automatic way, where data has built-in quality, security and business meaning, and is available in real-time”
Recent studies also show the importance Data Fabric will have in the coming years. According to the Over 100 Data and Analytics Predictions Through 2025 report from Gartner, by 2024, organizations that utilize active metadata to enrich and deliver a dynamic data fabric will reduce time to integrated data delivery by 50% and improve the productivity of data teams by 20%.
How Stratio Data Fabric enables the Metaverse
Stratio Data Fabric is a distributed data management platform that can handle complex data processing in real-time, making it well-suited for use in the Metaverse.
One key use case for Stratio Data Fabric platform in the Metaverse is real-time analytics for virtual world events and user behavior. Stratio enables businesses to collect data from various sources within the Metaverse and process it in real-time, providing insights into user behavior, preferences, and trends.
Another use case for Stratio’s product in the Metaverse is providing a unified view of data across different virtual environments. Stratio Data Fabric Platform enables businesses to integrate data from multiple virtual environments into a single view, which can help them gain a better understanding of their users and inform strategic decision-making.
With Stratio Data Fabric, any data use case you want to solve within a company; reporting, monitoring, application AI, is solved four times faster and with half of the associated cost.”Óscar Méndez, CEO of StratioBD
Stratio’s platform is an essential tool for businesses looking to leverage the Metaverse and capitalize on the opportunities it presents. If you want to learn more about how Stratio Data Fabric Platform can help you enable the Metaverse, check our website.