Editor | Song Hui
Produced | CSDN Cloud Computing
In early March 2022, Cloudera, an enterprise data cloud company, recently released a global enterprise data strategy research report jointly prepared with technology market research company Vanson Bourne. The report provides insights into the use and value of data, enterprise data strategy, enterprise data development trends, and enterprise business The content of the fourth part of the plan reveals the correlation between the maturity of enterprise data strategy (that is, the overall strategy covering all business lines) and performance, and discusses the impact of the epidemic and its uncertainties on business.
Vanson Bourne surveyed 3,150 C-suite, senior or mid-level executives in the public and private sectors, as well as large corporations with more than 1,000 employees, online and by telephone between July and September 2021. Respondents came from fifteen markets around the world.
The study found that organizations that implemented a mature data strategy for at least 12 months achieved higher profit growth, averaging 5.97%. Ninety-six percent of business executives say the way data is processed and managed has a positive impact on business performance; nearly two-thirds (64 percent) of business executives say a mature data strategy improves their organization’s resilience. Business executives and IT leaders alike see data as a strategic business resource, but they disagree on operational processes and implementation.
Ram Venkatesh, CTO of Cloudera, said: “A proven enterprise data strategy optimized for hybrid and multi-cloud environments can deliver better business outcomes. Organizations view data as a critical asset not only to understand today’s ongoing changes, It is also ready for the next development.”
Data lifecycle challenges hindering innovation
Data visibility remains a key issue for enterprises, with 89% saying that centralized security governance and compliance covering the entire lifecycle is very important for data processing and management. Only 12 percent of the IT leaders surveyed said their organization is involved in all stages of the data lifecycle, which is a huge help in implementing an enterprise data strategy. Without complete control and visibility of all aspects of data, organizations will lack the critical capabilities needed to drive innovation.
Businesses currently use data and analytics for many reasons, not least to improve customer experience. For the data sources used, customer and prospect data (61%), as well as connected product data (55%) and customer sentiment data (53%) are the most widely used data sources globally, with the public sector using all three are far ahead in terms of data sources (34%).
The Internet of Things (IoT) and edge device management were the most common analytics used globally in nearly 60 percent (59 percent) of the data analysis methods survey.
An effective enterprise data strategy remains key
While companies recognize the value of an enterprise data strategy, they struggle to implement it effectively. Organizations that have implemented a data strategy for more than a year report being very effective (63%), achieving higher profit growth rates. Nearly all IT leaders (91%) who have implemented an enterprise data strategy believe the current strategy is key to achieving business resilience. The corporate executives surveyed said that the average annual loss due to inadequate data management and missed business opportunities is $384,962, with the telecommunications industry having the highest average annual loss of $6,617,348.
Hybrid cloud is the trend
The report expects enterprises to move to hybrid cloud within the next eighteen months. Business executives say 43.07% of employees will continue to work remotely in 2022, so companies are investing in infrastructure to support hybrid work environments. 79% of enterprises want to deploy their data and performance analytics capabilities on a hybrid architecture. Of the various cloud options, multi-cloud is clearly preferred. 44% of IT leaders said they would prefer a multi-cloud architecture in the next 18 months. With a hybrid data cloud, businesses can quickly and easily access and analyze data to make smarter, data-driven decisions to effectively meet their innovation needs in a competitive business environment.
By accessing and managing data from multiple sources and locations, businesses can harness the potential of mixed-working workforces in a controlled and flexible manner while conducting business as usual. Nearly all business executives (92%) agree that effective use of all data in hybrid cloud, multi-cloud and on-premises architectures creates value. This finding echoes the sentiment of a majority of IT leaders (90%) who say their organizations use at least a portion of cloud capacity to manage data. The majority (89%) believe that businesses that deploy a hybrid architecture in their data strategy will gain a competitive advantage.
Success with data goes beyond profit
The use of data analytics can bring many benefits to a business, not just increasing profit margins or gaining a competitive advantage. Most businesses recognize the important link between Diversity, Equity and Inclusion (DEI) and business success. The study found that comprehensive data collection and analysis contributed to the success of the DEI program. Nearly all IT leaders (96%) and business executives (95%) agree that data analytics is important to ensure successful and effective implementation of DEI programs, with 95% agreeing that DEI programs help companies Success. With an effective corporate data strategy, companies are better able to use data analytics to measure and evaluate workforce diversity initiatives. With an in-depth understanding of internal diversity, companies can improve decision-making, drive innovation, and increase employee motivation.