In financial services, data has always been viewed as a strategic asset. To manage this data, organizations have invested heavily over several years and across a number of technology generations in the underlying data infrastructure. This approach has left a large data technology legacy along with silos of data linked to specific infrastructure and applications.
In our modern digital society, data is abundant, and storage is affordable. Businesses, governments and even individuals can (and do) collect every transaction, click, swipe, location, message and attribute in their datasets. With just a few clicks on my smart device, I can review data on every place I’ve been, how much I spent, every step I took, what the weather was like and who I was with. Businesses collect the same abundance of data.
Does it feel like your business is paying too much for cloud services? You are not alone. Cloud costs are expected to increase at a compound annual growth rate of 10.5% to 13.1% through 2025, according to the International Data Corporation (IDC). While getting a handle on those cloud costs may be tricky, you don’t have to worry — we’ve got you covered.
Businesses are increasingly embracing a cloud-first approach to increase market responsiveness and flexibility. The cloud-first approach refers to a cloud-like experience consisting of on-demand metered consumption of IT infrastructure, whether on the public cloud or inside private data centers. The rapidly evolving consensus among the tech leaders and vendors has led to an emergence of hybrid IT.
As businesses advance their digital transformation efforts, enterprise resource planning (ERP) systems are evolving — arguably as significantly as the shift from materials resource planning (MRP) to ERP. Just as businesses reimagined operations by leveraging advances in hardware and software in the 1980s, they’re now turning to next-generation ERP.
Analysts have found that roughly 50% or more enterprise resource planning (ERP) projects fail, and approximately half of all projects are considered challenging.
In the wake of COVID-19, we saw a significant shift toward as-a-service offerings, something we haven’t seen in years. From conversations with CIOs over the past 12 months, we know they are looking for the flexibility, efficiencies and cost savings they get from the as-a-service model. This is especially important to them as they evolve their business models in a hybrid IT direction and become consumers of IT.
The era of manual data management and governance is rapidly coming to a close. The size of the trove of data at nearly every company has become so enormous that it cannot be maintained using manual cleaning, cataloging, governance and search methods. The release of Lumada Data Catalog 6.1 breaks new ground in automating data management, cleaning and governance processes, making it easier to find data and grant access to those who need it.
Ransomware has become a familiar front page news topic thanks to recent high-profile attacks against a major meat producer and an East Coast operator of a critical oil pipeline. Also, consider the attack on a provider of software tools to IT outsourcing shops that let hackers paralyze hundreds of businesses on all five continents. No doubt the ransomware threat is serious, and now Washington is mobilizing to wipe out a scourge it formerly treated only as a criminal nuisance.
In our modern world, accelerating the process of extracting insights from data is a complex challenge. Exacerbating this task are colossal data volumes, the expansion and use of multiple cloud platforms, and the increasing demands for self-service in a way that maintains compliance. Enterprises attempting to tackle the problem encounter various forms of friction everywhere they turn.
