Amongst the many other advancements that might happen in the IT space, digital transformation is still expected to remain a top priority for businesses. Digital transformation enables operational excellence, cost efficiency, product innovation, and increases customer value over time.
As transformation happens at all levels within businesses, data remains the core currency and asset for organizations. Business leaders must be ready to deploy and manage digital assets and data from newer sources, a majority of which will be cloud-based.
According to the NewVantage Partners Big Data and AI Executive Survey 2019
- 48 percent of organizations say they compete on data and analytics,
- 31 percent of organizations in the survey said they have a data-driven organization, and
- 28 percent confirmed having a data culture.
However, what is the integration that must happen for businesses to truly leverage data coming in from all points and channels, including historical and real-time information?
Live data integration and real-time data as the basis of digital transformation
Real-time data is the key to responding to events and incidents as they happen and drive data-based decision making to eliminate guesswork from within enterprises. Real-time data is about the performance, resiliency, and availability of data, which drives innovation and business strategy for organizations.
Achieving live data integration means a company is always updated about any trends and can capitalize on current knowledge and happenings. This also means that a business is ready to respond to trends much faster than its competitors, standing to gain an early mover advantage.
From smartphones to the Internet of Things (IoT), there are more services today and more data generated by them around companies and customers. Before turning this data into a competitive advantage, you need better connectivity and access to this data from various parts of your organization.
Consolidating data and streamlining its flow throughout the organization can be one of the first critical steps a business takes in the direction of leveraging data as a competitive edge.
Traditional integrations are not scalable and are unable to provide sufficient analytics to act on the data and make vital business decisions. For this reason, live data integration looks like a lucrative option to businesses who consider data integration their mission-critical factor.
Digital transformation must happen where the data lies, or it might fail. Data integration and real-time data usage need to happen where integrations are accessible, available, and scalable. Moving to the cloud, therefore looks like a game-changing strategy when thinking about data and digital transformation for the businesses of today and tomorrow.
Where companies are on their transformation journey, modernizing data architecture with the cloud is an answer to whatever business case they are trying to address. Live data integration will help companies get in the know
of their customers and market in the now
Real-time data analytics and reporting capabilities will act as a catalyst to digital transformation and the technologies backing these up and ready to expand.