Data Visionaries Help Companies Thrive Through Digital Transformation
Companies categorized as Data Thrivers have three times greater new customer acquisition, employee productivity, and increased profitability.
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NetApp announced findings of a global research program focused on helping companies embrace digital transformation. In partnership with IDC, the research program provides immediate and impactful steps any company can use to transform. The Data Thriver Study results show what separates Data Thrivers, who are aggressively disruptive in the use of digital technologies to affect new markets, from those who are merely Data Survivors or even Data Resisters.
With only 11% of companies fitting the profile of a Data Thriver, traditional industries are now at serious risk of losing a significant percentage of their revenue to more data-driven organizations by 2018. Top industries at risk include utilities (29%), retail (>25%), industrial equipment (20%), financial services (18%), and government (18%). Companies that use data to drive business and satisfy customers in new and innovative ways have only just begun to disrupt the market.
"Data visionaries inspire their organizations to be Data Thrivers. They recognize that data is no longer locked away on devices hidden behind firewalls. It is now distributed, dynamic, and diverse,” says Jean English, SVP and CMO, NetApp. "Our mission is to support companies throughout the digital transformation process, delivering hybrid cloud data services that radically improve organizational efficiency and create new business opportunities."
Michael Jaeggi, head of IT, Boerse Stuttgart GmbH, says:
"As Europe’s leading stock exchange for private investors, we must find new and innovative ways to leverage the data generated from over 1.5 million tradable products to drive business and satisfy our customers. To thrive in today’s data-driven economy, we looked to NetApp Technology to ‘bridge-the-cloud’ so we could focus on our core business, providing retail investors with next-generation financial services. We are looking forward in an open market of compute capacity, whether it comes from the cloud or other areas."
Data Thrivers are taking steps to increase revenue, improve business outcomes, and transform data into dollars. Many Fortune 100 companies are building out innovation labs, as well as creating new roles for innovation executives and data management officers. Of the organizations who participated in the study, almost half already have a Chief Data Officer.
Data Survivors are losing revenue opportunities, lagging in employing data to enhance customer satisfaction, and being overwhelmed by their data. They use disparate tools to manage data that is in different formats and different locations, which adds extra complexity to managing security, risk, privacy, and compliance.
"If companies don’t transform to become Data Thrivers, they will find themselves the victims of digital Darwinism, which is impacting businesses across industries and sizes,” says Laura DuBois, IDC group vice president, Enterprise Storage, Server, and Infrastructure Software. "Organizations are moving away from business as usual and embracing digital transformation. Companies are discovering they must modernize their systems, models, processes, and architectures to compete.”
Organizations that exhibit Data Thriver behaviors are adopting a diverse set of technologies, including data services for the hybrid cloud. These services include various protection, security, integration, and optimization functions on data for the purposes of agile and economic data management and faster time to insights.
Top three things that Data Survivors can learn from Data Thrivers:
- Use data as an organizational asset.
- Enable IT and business to work in unison.
- Create data maps for data visibility and control.
Organizations seeking to move from Data Survivor to Data Thriver must perform a holistic transformation of people, process, and technology and create a digital transformation roadmap, which should include:
- The creation of new roles.
- Setting up new staffing models.
- Instituting new processes.
- Making new investments.
- Exploiting data services for the hybrid cloud.
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