No, really, you do.
When it comes to data strategy, there is a growing divide between IT leaders and IT practitioners. New research from Informatica reveals a deep disconnect between IT executives and rank-and-file workers.
- 61% of IT executives believe that improving data management strategy will help them be more responsive to customers. In contrast, only 42% of IT workers feel the same way.
- 63% of IT executives say that effective data use enhances business agility. Only 41% of their IT workers agree.
- 55% of IT executives regularly consult with business leaders on data management strategies. Only 17% of their IT staff do the same.
Why does this matter? Because if you can’t come together, it will hurt your business. Organizations that are smarter about data perform better financially. According to recent research by the Economist, organizations that use data strategically have a significantly higher EBITA (earnings before interest, taxes, and amortization) than those who do not.
Better data strategy? Better bottom line.
To drive revenue, IT executives and workers need to align around their data strategy. The Informatica ebook “Research: Data Drives Profit,” outlines all the evidence. In this eBook, we share four practices that fuel the strategic use of data.
Right Data, Right Time, Right Way
We now live in a data-centric world. When the right data is available and used at the right time, every application and every process becomes smarter than it was before. This, in turn, makes every person “smarter” as they make their daily business decisions.
In order to unleash your organization’s full potential, it is critical to think differently about your data:
- Data can no longer be defined by its source or application. Instead, data needs to be managed as an interconnected ecosystem spanning all applications, processes, computing platforms, devices, users and use cases.
- The data technology landscape will never again be a static standardized architecture. Instead, it will be constantly changing and adapting to incorporate new technologies or applications;
- With the consumerization of IT, companies are sitting on an ever-growing pool of data and technology skills, in both IT as well as the business. It is vital to harness all of this for the combined good of the company.
We want to know what you think. Reply in the comments and let us know whether you agree or disagree with the above statement and whether you think there’s alignment around it within your IT organization. (If you care to share your title or categorize yourself as an IT executive or IT staff member, that’d be helpful, too.) I’ll review the results and report out in a future blog post.
By 1874, Western Union President William Orton called telegraph messaging traffic “the nervous system of commerce.” In 1877 Western Union entered the telephone market using Alexander Graham Bell’s invention. And the rest, as they say, is history.
What do Western Union, Bell, and the telephone have to do with a discussion about data integration? A lot! Those early days laid the foundations for today’s connected world of business. Earlier today, Informatica released an announcement that I believe is of similar importance in unleashing the potential of the technology landscape we live in.
The speed of business is faster than ever before, fueled by technology innovations such as cloud, mobile, big data, and social. The barriers to entry into new markets are lower than ever before – big companies can act nimble and small, while small companies can appear large and achieve global reach.
McKinsey & Company recently published a study estimating the spate of technological disruptions (cloud, mobile, internet of things, etc.) will generate between $14 and $33 trillion of economic value by 2025. Implementing specific initiatives to use these technologies for greater economic value will require better harnessing the data and information around you – supporting faster decisions, building smarter applications, and transforming businesses. It is said that the new Boeing 787 generates around 1 terabyte of data per flight per engine. Then there are approximately 500 gigabytes generated by the rest of the plane’s systems each flight. Consider how airlines can use this information to make flights safer, more efficient and more enjoyable?
One of the primary barriers to unleashing this potential is that IT requires time to adopt new technologies. For example, for airlines to unleash the value of this new information generated in-flight, they need to collect and store the data utilizing new big data technologies. Then they need to combine the data with other systems like booking and maintenance, and deliver it to some specific application. This involves new technologies which IT needs to master. Our business ideas are now outpacing our technical readiness.
The Informatica VibeTM virtual data machine can help solve these challenges. In short, Vibe allows you to break data management tasks into two parts – (1) a visual mapping of the business logic for integrating and managing data and (2) the executable plan which is optimized and then generated to perform the data integration tasks on a variety of computing platforms. This separation of logic from physical execution allows you to map once and then deploy anywhere – over and over – without the need for recoding. Vibe seamlessly shields you from changes in the underlying technologies, programming languages, data sources, etc. If your computing platform is Oracle today and Hadoop tomorrow, no problem. Vibe lets you change deployment platforms via a simple configuration change—the virtual data machine handles the detailed changes in language and execution plan underneath. No programming skills required.
While Vibe is a technology component, it has the ability to deliver great business impact by enabling you to unleash the value in your data and information.
Deliver new initiatives 5x faster. By allowing developers to focus on the mapping, cleansing, and management of data, and allowing Vibe to generate the optimal execution code, the development effort is substantially reduced. Add to this the ease with which we can add new technologies (data sources, computing platforms, data types) without requiring a deep investment in having to learn new programming skills.
Use ALL your data for your next business idea. The next wave of applications business will pursue is not in the back office (finance, payroll), but rather at the points of interaction with customers, employees or citizens. For example, the McKinsey study suggests up to $10.8 trillion in economic impact from the mobile internet. The key value in many mobile applications comes from rapidly mashing up data from a variety of sources to enable a rich customer interaction on the device. For instance, a number of retail-oriented apps are now combining your loyalty information, in-store promotions, your location, and local competitor discounts to offer you specials when you are in the store or nearby.
Reduce cost. Everyone wants to deliver IT cheaper. In addition to the speed with which your developers can develop new applications, Vibe also allows you to embrace lower-cost technologies such as Hadoop and cloud platforms. Your existing data integration skills and mappings automatically get converted into new technologies like Hadoop at the click of a button.
Future-proofing. The one thing we are learning in the technology space is that change is going to remain with us. The change is accelerating, and it is unpredictable. There will be new databases, new mobile platforms, new technologies such as virtual reality– all with the potential to drastically transform the business. For more than 15 years, Informatica has architected new, expanded capabilities on top of Vibe to handle the latest technologies as they have come to market – all aimed at lowering the barriers to information.
I started my blog discussing how telephones changed our world. Even today, we cannot imagine a world without phones. That dial tone is the promise of a connected world, and it translates your keypad entries into some code that routes your call to another person. For data, I see Vibe as a key enabling technology that can unleash the incredible potential locked up in our information to make the world a better place.