Big Data and Digital Transformation

This article from Approyo CEO Chris Carter originally appeared in the Technology Headlines: https://www.thetechnologyheadlines.com/technology/big_data/Big-Data-and-the-Digital-Transformation/

Over the past two to three years, big data and digital transformation have become all the rage within organizations and IT departments around the world. This has led to a lot of confusion and myths in the marketplace. Let’s dig into some myths around Big Data and The Digital Transformation.

The first major myth is that every company has a digital transformation or a big data project in place. The truth is, not everyone has a need for digital transformation and even less have a need for big data and analytics. As you look out into the scope of these initiatives, companies are bypassing big data because of the lack of need within their organization. Companies might be utilizing applications and tools that feature some form of big data analytics, but as far as acquiring new tools, specifically for big data analytics, it’s just not happening.

As far as digital transformation projects, small companies with under a million in revenue per year, are already using some sort of tool or software, with features of digital transformation such as QuickBooks or Salesforce. These types of tools, already have the features and functionality, smaller companies need to succeed.

Another myth is that digital transformation is very difficult to implement within an organization. This really is not the case. As mentioned in our first myth, there are a lot of software tools available with various digital transformation and big data applications built into them out of the box. Many of these applications are available through a web browser or smart device, allowing every individual within the organization, the access and ability to transform their day-to-day activities with these software tools. That’s not to say digital transformation and big data initiatives are easy. This is an important fact to make sure your company understands. However, there are tools and applications out there that can make it easier. The hardest part is knowing what you want to analyze and accomplish. This is really where you start a big data analytics and digital transformation project.

Today, there are vast amounts of data everywhere. You can grab data from your website, apps, smartphones, smart devices in your home, your car and thousands of other devices. With all this information available to your company, it is important to figure out what data is the most valuable. That is the key for anyone working on a big data analytics project. Your business needs to know what data is most valuable, in order to make business decisions that will positively impact your company.

Valuable data is key. It can impact your business and bottom line in many ways. However, dirty data can make any digital transformation or big data project wasteful for you and your company. This is where most companies run into problems with big data projects. They get sidetracked by data that doesn’t have a positive impact on their business. When starting a big data and digital transformation project, your company needs to focus on what data is relevant in helping your business succeed.

The final area of big data, that has caused a lot of confusion in the marketplace, is how you are getting that data and using it. As part of a data transformation, you must make sure that you are compliant with the usage of that.

If you cannot be relied upon to do the right thing with your data, someone will step in to make sure that you are or you could have major legal ramifications like we are currently seeing with Facebook and Google. You need to make sure you have a controllable platform within your organization.

Big Data analytics and Digital Transformation will remain an important key to growing your business today and into the future. Your company needs to stay on the forefront of these trends, in order to succeed in the marketplace.

This article from Approyo CEO Chris Carter originally appeared in
the Technology Headlines: https://www.thetechnologyheadlines.com/technology/big_data/Big-Data-and-the-Digital-Transformation/

Three game-changing technologies impacting Digital Transformation

Business leaders say they need three things from their data systems to help them compete effectively and embrace digital transformation: reliable data to empower their workers, deep insight from all their data, and access to the latest analytics and machine learning techniques to amplify their insights and apply them to their business.

In addition to new business demands, technology advances are creating new strategic opportunities for data management and analytics. The three key technologies that are having the most impact are:

• In-memory computing delivers real-time performance that obviates the need to have separate solutions for transaction processing and analytics. This has the added advantage of removing the need for multiple copies of data and eliminating latency between transaction systems and data warehouses introduced by batch or overnight replication.
• Storage for large data sets is dramatically lower in cost allowing almost unlimited data sets to be created. Coupled with in-memory performance that can handle these massive data sets, business can see insights into their business in real time.
• Cloud computing has reduced the need for huge capital investments and made powerful advanced computing more accessible. New applications can be deployed quickly to capture opportunities without waiting for data centers to be built and systems readied. 

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Embrace Digital Transformation Today with Approyo

Digital transformation is the reinvention of an organization through the use of digital technology to improve the way it performs and serves its constituents. Digital refers to the use of technology that generates, stores and processes data.
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Is your business ready for the Digital World? 
The growth of technology in everyday life cannot be ignored, with everything available at your fingertips. With growing customer demands, businesses must adapt new technologies, independent of the industry or size of the business.

Is your company ready for this new and evolving digital world? Monitoring data across the internet and evaluating security and financial data in real-time can transform the way a company does business.

Recent studies back this up time and time again. The IDC report “FutureScape: Worldwide CIO Agenda 2016 Predictions” emphasized that, "One-third of the top 20 firms in industry segments will be disrupted by new competitors within five years," and that it's a matter of "transform or perish."

The same IDC report goes on to predict that, by 2018, “70 percent of siloed digital transformation initiatives will ultimately fail because of insufficient collaboration, integration, sourcing or project management."

CIOs should not only care about digital transformation for the sake of their company's survival, they should focus on securing company-wide support and collaboration to get digital transformation right – before they get disrupted by a competitor or a startup.

Create a plan for Digital Transformation at your company.
Don’t miss this exciting time to take your business to the next level. Approyo can help your company deal with the changing world. Our SAP HANA and Big Data solutions address these important questions and more. Let us show you today! Set up a free consultation.