Achieving Strategic Gains With Data Modernization
More companies are pushing data out to the cloud to take advantage of new abilities to handle unstructured data. Referred to as data modernization, this practice includes benefits such as cost savings resulting from standard cloud benefits and lower overhead from database costs. As a report from Deloitte details, cloud providers don’t just offer storage and compute but a modern database with AI-powered analytics.
Data warehouses aren’t going away, but more data modernization is being pursued in the cloud and is expected to be an ongoing trend. More emphasis is being placed on AI to deliver the desired business results, particularly in the area of automation. Predictive analytics is one of the biggest areas of investment.
Of the 504 respondents to the survey, 91% reported that they were primarily using cloud platforms for data storage. Enterprises are increasingly finding that in order to understand customer experiences, cloud-based analytics and machine learning should be utilized instead of trying to pull insights from on-premises analytics tools.
Marrying Cloud and Data Modernization
In the past, enterprises have had separate paths for implementing cloud and data strategies, but it’s becoming increasingly clear that the most effective approach is one that is unified. The cloud’s flexibility and cost savings make it easier to expand data modernization. Enterprises are certainly discovering the connection with 57% of respondents indicating that they operate in the cloud with both data and critical applications.
Deloitte’s report says that data management will be largely modernized, and it’s expected that nearly all applications and data will reside in the cloud. Businesses are pursuing this path, but software providers are serving as a catalyst as they also encourage data center clients to shift to the cloud. A joint cloud and data modernization plan more effectively executes an enterprise’s objectives. This means faster delivery of value to customers and the growth of those relationships.
Deloitte also cautions that enterprises not prioritizing a combined data and cloud modernization strategy should make the move. The companies that have done so are experiencing a significant lead ahead of competitors. Those that hang on to a more disjointed approach will be left behind because they won’t be able to compete. In an agile digital environment, teams must work together in an integrated fashion in order to handle the speed of changes.
For many organizations, the success of a combined cloud and data modernization effort relies heavily on the leaders positioned to drive the strategy. A visionary chief marketing officer (CMO) often ends up taking the reins because they tend to know enough about technology to drive results while also having the customer experience squarely in the center of their plans. The CIO that doesn’t demonstrate this same focus on the customer may lose their impact in the board room.
Is it time for your organization to prioritize a seamless cloud and data modernization strategy? Contact us at Net Tel One Communications to begin the conversation. We can help you identify new paths to optimizing the customer experience through a comprehensive technology approach.