Why are some businesses ill-equipped for digital transformation?

Posted by Katie Mowery on December 27, 2018

As we approach the end of 2018, we’ve seen many conversations go back to this concept of digital transformation. How can you know if you’re really transforming your business, or even more so, doing it well? As millions of dollars are being invested by organizations in programs to evolve and change to face market, consumer or industry demands, it’s imperative to know if what you’re doing is setting you up for success. This depends on a foundation beyond just the infrastructure that can enable your transformation – it’s beneath that, at the very core… your data.

The IoT Data Variable

In the age of IoT, why do some businesses remain ill-equipped for digital transformation and automation? In many cases, it’s due to an overwhelming amount of data created, stored and used every day.

The amount of data produced is almost unimaginable… 2.5 quintillion bytes of data every day. And because of IoT, the growth continues with 90 percent of the data in the world having been generated in just the last two years. You typically don’t hear about challenges capturing data – you bought something, signed up, scrolled through a feed, filled out a form, there’s sensors on everything, smart homes, Bluetooth connectivity and Alexas galore, – It happens so often we don’t even realize how much data we’re creating in real-time. But now, organizations need to react to that data in real-time as well. And they need the technology to enable its usage.

It doesn’t matter if you’re a retailer, a utility, a manufacturer with a complex supply chain… one of two things can happen. 1) You will be a victim of the data explosion and be bogged down by legacy systems, rip and replace efforts to try and get a handle on where your data lives and how to use it… OR 2) You can find a way to leverage the data (regardless of where it lives) and mine it for the value it has. One single-version of the truth for the data you need to power your high-performance analytic systems, digital transformation engines and the future systems you don’t even know you’ll need yet.

Data is Daunting Without a Plan

A major part of an organization’s road to digital transformation is understanding what’s at stake/what could go wrong when you aren’t using, managing or interpreting your data effectively and how to change that. How can you identify the data that is valuable, ensure what you have is accurate and reliable and then in turn, convert it into something consumable by key decision makers in your company? Oh… and also quickly. This idea of integration and a single source of truth affects all aspects of business—it’s being able to decide on the next best action because you are confident in the data generating the results.

It’s almost 2019 and likely, plans are already set for the next big IT initiative or transformation priority. If the success of those programs is contingent on being able to streamline your processes and make better, smarter decisions to impact your bottom line, you’re going to need a data plan. Let us help get you started.

Topics: IoT