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.
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.
While it is a newer technology, blockchain is already disrupting financial services, insurance, healthcare and supply chain solutions. Two main causes of this disruption are blockchain’s ability to enable disintermediation, and how it provides an immutable historical record of data. Blockchain technology itself solves many of the problems that data governance professionals, and data management technology vendors have been trying to solve for years: group consensus on the most recent version of the truth for a given entity, and full instance lineage (provenance) of the data.
While blockchain has been able to transform these solutions, forward-thinkers are asking: will blockchain have the same disruptive effect on data management? There are two main factors to consider when assessing blockchain’s potential to disrupt data integration, storage, and data integrity: