Data is the lifeblood of digital transformation. And while there have been recent discussions around digital transformation being a thing of the past, that is simply not true. Not when, according to a recent IDC Infobrief, sponsored by TIBCO, Using Data Intelligently: Unification and Pipelining Patterns in the Digital Economy, 46 percent of organizations are “digitally distraught.” Even the other 54 percent considered “digitally determined” have not completed their digital transformation journey. Every company today needs to prioritize data management as a crucial part of their digital transformation strategies.
In the research, IDC includes some predictions on current trends for data management:
- 33 ZB of new data was created in 2018, and by 2023, IDC estimates 103 ZB of new data will be created. (1 ZB = 1 trillion Gigabytes)
- 14 percent of the 33 ZB was original data; 86 percent of the new data volume was generated by replication and distribution, resulting in significant data liabilities
- 25 percent of useful data created in 2018 was tagged and only 13 percent of the tagged data was analyzed
- 60 percent of organizations are being challenged by data quality and complexity, complicating data integration, master data management, and governance
As seen in the statistics above, organizations today are facing a rising tide of data. Highly distributed and diverse data environments are extremely common in the digital economy. This is complicating data integration pipelines and requiring new solutions to tame this data complexity. According to the IDC Infobrief, the following are among the most compelling of these solutions:
- 360-for-anything: Provides a customer-driven blended view of master and transactional data across disparate data environments to improve customer experiences, operations, and organizational alignment.
- Data governance: Helps to reduce risks associated with security and compliance by enabling trust and transparency around an organization’s data.
- Data-as-a-service: Combines and delivers disparate data to multiple data consumers, enabling multiple views of the same data to be used for different projects.
- Data pipelines: Ingests multiple disparate data sources for real-time data cleansing and delivers the analytical infrastructure needed for training and deploying models.
We’ve only touched on these data management solutions in this blog. For a more in-depth conversation with Stewart Bond, Research Director for data integration and data intelligence software at IDC, about how to apply them and align them with your business strategies, watch the full on-demand webinar here.