Adapting and modernizing data is crucial to business success in today’s digital age. Modernizing data involves updating legacy systems to modern architectures and technologies, enabling organizations to store, manage, and analyze data more efficiently. Gartner summarizes its importance thus: “Data management agility has become a mission-critical priority for organizations in an increasingly diverse, distributed, and complex environment. To reduce human errors and overall costs, data and analytics (D&A) leaders need to look beyond traditional data management practices and shift toward modern solutions like AI-enabled data integration.”
In this blog post, we will explore why data modernization is essential to digital transformation.
Improved Data Quality
One of the key benefits of data modernization is the improvement in data quality. Modern data platforms provide better data quality controls, allowing organizations to identify and correct errors quickly. Good data quality, for example, customer-related data, can help organizations ensure superior customer experience.
The reverse is also true, with inconsistent data resulting in bad decisions. Data inconsistencies can lead to costly mistakes and legal or regulatory non-compliance.
To summarize, organizations can improve their overall performance and competitive advantage by ensuring that data is accurate, reliable, and consistent.
Faster Data Access
Legacy data systems can be slow and complex, making it difficult to access data quickly. Modern data platforms provide faster access and more efficient retrieval, enabling organizations to analyze data and make real-time decisions. This can increase productivity, shorter response times, and improve customer service. Fast data also increases productivity as less time is spent on data retrieval. With more immediate data access, organizations can gain a competitive advantage by making better and faster decisions based on data insights.
As the volume of data continues to grow, organizations need to ensure that their data infrastructure can scale to meet their needs. Modern data platforms provide scalability and flexibility, allowing organizations to add or remove resources as needed quickly. This can lead to cost savings and increased efficiency, as organizations only pay for the resources required.
In conclusion, data modernization can help improve business stability by enhancing data security, scalability, flexibility, governance, insights, and customer experience.
Integration with Cloud Technologies
Cloud technologies have become an essential part of digital transformation, enabling organizations to leverage the benefits of scalability, cost savings, and flexibility. Modern data platforms are designed to integrate with cloud technologies, allowing organizations to take advantage of the benefits of the cloud while still maintaining control over their data. Modern data platforms are also designed for scalability, enabling organizations to take advantage of the benefits of cloud computing, such as real-time data processing, allowing organizations to analyze and act on data insights quickly.
Improved Security and Compliance
Data security and compliance are critical for any organization handling sensitive data. Modern data platforms provide enhanced security features, such as encryption, access controls, and data masking, to protect against data breaches and unauthorized access. They also offer built-in compliance features to ensure organizations meet regulatory requirements.
Get Going with Data Modernization
Here are four steps that enterprises need to follow to get going with their data modernization efforts.
- Strategy is the bedrock that requires stakeholders to define the benefits they need to derive from data. An insight-driven approach with a strong understanding of current strengths and weaknesses will help the strategy process.
- Architecture ecosystem: A reference architecture is suggested to understand whether a cloud, on-premises, or hybrid environment will be best suited to derive the maximum benefits from data.
- Data governance policy is crucial to curating and managing extensive data. It is also essential to ensure security against cyber threats.
- Talent: The final and most important layer is to have a fine mix of technical, business, and analytics resources to derive the maximum benefits from data modernization.
Impelsys works with global enterprises from strategy to execution to ensure their data modernization journey results in quantifiable benefits. Our data modernization offering can help organizations improve their security and compliance posture by providing better encryption and access control, automated monitoring and alerting, improved data governance, compliance reporting, and auditing and traceability capabilities. Organizations can protect their sensitive data better, comply with regulations, and maintain customer trust by modernizing their data infrastructure and leveraging some of our capabilities.
Authored by – Venkat Srini and Anuradha Muralidharan
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