It’s been said that all businesses are technology companies in the age of digital transformation. It’s also true that many are becoming information businesses as the amount and value of data they produce and consume continues to increase. In fact, business leaders and CIOs will find themselves not only missing opportunities but also at a competitive disadvantage if they don’t leverage data assets before markets are crowded with competitors.
Data management is a major concern for enterprise organizations, and for good reason. IDC forecasts that by 2025, the global datasphere will grow to 163 zetabytes (ZB). Access to all this data will unlock unique user experiences and a new world of business opportunities for organizations. Data is becoming increasingly diverse, dynamic, and distributed across on-/off-premises, including public cloud. Hybrid cloud environments combine these platforms to increase the benefits of data collection and use, but they come with their own set of challenges. These hurdles prevent organizations from efficiently managing and deriving maximum value from all their data.
The Internet of Things (IoT) is rapidly revolutionizing how enterprise organizations work, and technology budgets are increasingly reflecting the need for IoT investment. At least $3.1 billion of IT consulting services and $11.2 billion of systems integration services will be consumed building and implementing IoT solutions worldwide in the next three years. Organizations recognize that today’s faster pace of business and their desire for digitally enhanced business transformation means a bigger technology budget.
Following the 2014 Summer Davos Forum, China’s State Council issued a series of formal opinions in 2015 that outlined detailed general principles and measurement guidelines meant to encourage entrepreneurship and innovation, pursue innovation-driven development, and improve employment in China.
Data governance is no longer optional for enterprise organizations. Aside from complying with new regulations, such as the General Data Protection Regulation (GDPR), organizations are finally realizing the value of data as an asset that needs to be protected, managed and maintained to increase asset value. But just because businesses understand the value of data governance, doesn’t mean that enterprises are confident in their abilities to execute on it.
Data governance is no longer optional: regulations such as GDPR will start to be enforced; and organizations are finally realizing the value of data as an asset that needs to be protected, managed and maintained to increase asset value. Because data is a digital asset, and has mostly been managed within the realm of IT, organizations are quick to look at technology, expecting to find data governance software and solutions; but technology is only part of the solution.
What if you discovered oil in your backyard? How would you get it extracted from your property and deliver it to customers? Where would you sell it and what would you charge? If the world’s most valuable resource is no longer oil, but data, how does your enterprise leverage the data it already creates and manages to turn what is ‘in your backyard’ into a sustainable revenue stream?
Still think wide-scale robotics is the stuff of science fiction? Think again: global spending on robotics and drones solutions will total $103.1 billion in 2018 alone, a 22.1% increase over 2017. By 2021, IDC predicts that spending will double, accounting for a compound annual growth rate (CAGR) of 25.4%.
Organizations are already using 3rd Platform technologies, including mobile capabilities, to enhance how they operate and interact with stakeholders. Knowing how to elevate and accelerate current initiatives is critical to executing a successful, Digital-Transformation (DX) based strategy. One way to use these tools to accomplish a DX-driven goal is to combine these technologies to maximize value for their organization.
