Generating added value from data is the greatest challenge and opportunity for companies. It’s time to break down barriers and realize the full potential of the digital transformation advances made over the past two years. This results in holistic benefits beyond performance, growth, agility, and innovation to sustainability, well-being, safety, and inclusion, regardless of where you work. This is precisely how shared value can be realized in the company. To that end, organizations must become data-driven — a goal achievable wherever the data resides: in a data center, in the private cloud, in a colocation facility, or at the edge.
So if data is the primary catalyst for change, why do many companies of all sizes still struggle to leverage their data capital effectively? And, more importantly, how to overcome this? The problem has become apparent through recent studies by Forrester commissioned by Dell Technologies. Many companies think they are data-driven, but in reality, they don’t treat data like capital and don’t prioritize its use. Companies often collect data faster than they can even process, analyze and use it. Yet they constantly need more data than they can currently collect.
It’s also worth noting that while many companies are convinced of the benefits of “a service” models, few have fully transitioned to such a model.
The impact continues to be felt as the data above management challenges hamper attempts to extract additional value from newly available data and through AI-powered data mining. How can these gaps between intention, perception, and action be closed? In today’s new age of technology convergence and partner networks, and with the urgent need for active and agile real-time intelligence gathering, the power of the cloud – particularly in the form of a multi-cloud model – plays a crucial role. With it, IT teams can create robust yet flexible foundations for data management. Application development and workloads are placed where they perform best.
Studies consistently show that 89% of larger organizations ( Flexera ) are now adopting a multi-cloud strategy. However, they also show that the full potential has yet to be exploited. The challenges range from integration complexity, lack of skills, and the significant cost factor. Analysis shows that 60% of CIOs ( Accenture ) now prioritize optimizing their cloud spend. Typically, about 32% of cloud spend is unnecessary ( Flexera ). Understanding current cloud and broader computing trends can help organizations make decisions about digitization, vendor and technology selection, cost forecasting, and investment strategy better to manage the following steps on the cloud journey.
For example, a subscription-based pricing model can support FinOps and help companies increase the predictability of their cloud costs and transparency in using cloud resources. Benefits in terms of usage efficiency are also possible. In addition to the charges, companies can take ESG aspects (environmental, social governance) into account from the outset and thus increase their shared value. Additionally, much can be achieved when organizations bypass single points of failure and standardize on a consistent, familiar toolset. In addition, personalized training for cloud competence should also take place for employees in non-technical positions.
As Dell Technologies ‘ Breakthrough study shows, understanding human behavior and learning preferences are critical if a technology change is to reach its full potential. The key to breaking through the barriers to digital transformation lies in the interface between people and technology. Now is the right time for companies to use the cloud to solve data-related challenges. No matter where you start or the size of your business, you can get support and leverage technology that scales with business growth. Learn how Dell Technologies and VMware combine the agility of the public cloud with the security of on-premises hybrid cloud platforms.
Also Read: Five Steps To A Data-Driven Company