Are you ready to compete in the digital economy? Has your organization strategized and actively pursuing DX technology initiatives? Or is your organization just starting to figure out what it means to be digitally transformed? If you are just starting, you better quicken your pace, because IDC believes by 2020, 60% of all enterprises will have fully articulated an organization-wide digital platform strategy and will be in the process of implementing it.
There are two primary ways to buy or trade data in the Data as a Service (DaaS) market – direct sales from a data provider to end users, or via a data marketplace. While large, established information services businesses continue to make direct sales to their customers, many are also participating in data marketplaces. For smaller and emerging providers of DaaS, the rise in data marketplaces has made it simpler for them to package and sell their offerings, and for potential customers to find them. Marketplaces simplify the searching process, providing a variety of sources and types of data, along with a ready group of potential buyers.
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.
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.