Data Modernisation are set to drive digital transformation for enterprises
By MYBRANDBOOK
The modern business environment is evolving rapidly and organizations are increasingly adopting new approaches to keep in pace with changing customer expectations. The digital realm is bursting with new trends emerging every year and businesses bracing themselves to tap opportunities by leveraging the latest technologies. Data modernization is one such technology driving change and transforming the way data is managed and accessed. Data modernization refers to the process of moving siloed data from legacy databases to modern databases. It opens limitless possibilities and endows enterprises with cost-saving benefits along with greater scope to employ artificial intelligence, machine learning and analytics algorithms.
Data modernization is no longer optional but vital for business success. Businesses that were once averse to new technologies are now jumping on the bandwagon simply because everything revolves around data. It’s not about the quantity of data you possess, rather it’s how businesses can leverage this data to their advantage and data modernization is a firm step in that direction. There is no dearth of reasons for enterprises to adopt data modernization.
Technologies like the internet of things and smart devices have emerged as important data generators. A large number of organizations are involved in IoT and multi-channel marketing, subsequently increasing the number of data sources in hand. However, Business challenges today vastly differ from what it was a few years ago. The inexorable increase in data generation has presented businesses with as many challenges as opportunities. The majority of the organization’s members rely heavily on data to make smarter decisions and there has emerged a need for a ubiquitous, shared language to easily access data. Data modernization is the way forward for enterprise-wide decision support.
Consistent, uniform access to data across departments within the organization is a prerequisite for improved decision making and data modernization with its self-service analytics capabilities will enable non-technical members of organization to make sense of complex data and pull valuable information effortlessly from a single place. As hyper-personalization, improved security and democratization of data take center stage, it shouldn’t surprise anyone that businesses are making a paradigm shift towards data modernization for better efficiency. Data is at the forefront of every industry today. Data modernization is a critical digital transformation trend upending the way businesses will operate in the future.
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