Research shows that connected data and a successful company are directly related: Those organisations that have seen significant revenue growth (20%+) in their organisation over the last three years are more likely to have completed data protection initiatives, connected systems initiatives, or intelligent automation initiatives, than those organisations that have witnessed a decline in that same time.
As we all know, when it comes to connecting systems and therefore data, the buck stops at IT - although functions have their role to play. This insight gives IT the opportunity to correlate the success of their infrastructure and policies directly with the success of a company, thereby widening ITs role and accountability.
It’s amazing what you can retrieve from the correct collaboration of data sources when you ask the right questions or join the correct dots so to speak. We produce so much data (and differing types), it’s a wonder we haven’t started ecological campaigns to reduce the data build up within our digital oceans for the good of all - digital data recycling - now, there’s a concept!
We saw the rise of Big Data initiatives nearly a decade ago, which formed the precursor to AI and query-based predictive analytics that we know today. Although we create a staggering amount of disparate data, what exactly is generated, what do we really do with it and - more importantly from a business outcome point of view – what should you be focusing on to not just keep up with your business peers pouring good money after bad but to demonstrate value to the business?
There are key initiatives that Data Leaders are forging ahead with now and recent analysis from Oracle has produced some very interesting statistics based upon the study of some of the data oceans that businesses have created, and where the Data Leaders and Data Laggards are on this sustainable data initiative for business growth. Highlighted within these statistics are meaningful ROI statistics that are drawn from real respondents of the analysis. Successful enterprises are data leaders: they do things differently and get better results and IT data leaders are 10 times more likely to feel confident in managing systems data than data laggards.
Highlighted below are some of the generated statistics that demonstrate Data Leaders against Data Laggards in respect to their ability to manage their digital rivers for 5 areas of data creation:
As you can see, the data laggards are simply not coping with the data growth!
All roads lead to the IT department’s responsibility when discussing data and the management of, and this will only become more so with key strategic drivers on the board room table requiring more attention than ever to not just be about staying in the game but ahead of it! This is where the Data Leaders focus is key and where the differentiator lies. If we drill down further look at more detail you can see why with more detailed responses highlighted later and where their priorities are prominent and which paid the most returns in respect to business growth.
It’s not often you can relate business growth directly back to technical initiatives which makes the following insights valuable for IT Divisions looking to embark upon their digital strategies.
As we all know this responsibility is with the IT Department and any proof points that demonstrate Correct Technical Initiative = Business Growth is welcome.
So what are the key takeaways that can be derived from this information? Data Protection/Management/Security/Automation are key drivers for business growth for the leading organisations that have shown major growth over the last 3 years period! Moving more to an Autonomous state of being in respect to your IT estate is a critical capability for delivering complete insight and automating process – and business leaders can see it - 47% of organisations who have seen significant growth have completed intelligent automation initiatives, compared to 23% of those with marginal growth.
It’s no surprise that solid analytics with cognitive abilities can demonstrate great returns for your technical investment, but if you link RPA, Data Protection and Management together with robust Security, you have a winning combination of IT services that provide amazing business growth.
We all know many of the mainstream IT Strategies around today but they are here for good reason. Oracle have been evangelising about Adaptive Intelligence and Autonomous Databases for some time now and it seems to me that it’s easy to see why. The Autonomous Technologies they have invested heavily in are paying off for data leaders around the globe.
I was fortunate enough to hear from Mark Hurd, Oracle CEO, when Mark presented his future vision of business growth with Autonomous products: Self-healing/patching databases that require less administration, less downtime together with rigid security that’s scalable. Organisations who have seen significant growth are twice as likely to have completed intelligent automation initiatives as those with marginal growth.
The advantages of employing these initiatives are easy to see but at the time it seemed slightly farfetched, however having seen the statistics here and the strategy presented then, it’s a reality.
Oracle, in my opinion, has been the sleeping dragon in the race for technology supremacy, watching, waiting and calculating the correct move to make. However, with the ever-increasing workloads together with the creation of industry data oceans we all have to swim in – doesn’t it make sense to automate, manage and secure effectively to allow for scale whilst requiring less administration, and resources? This does not necessarily mean removing the manpower and staff base from the IT Department, more like working smarter and more efficiently and not managing the huge amounts of data created across IT Systems that will get out of control as the statistics suggest.
If you put this together with the recent Microsoft partnership too, there’s a lot of innovation coming out of Oracle and I’m looking forward to seeing further advancements that Oracle have in store.