With the recent disruption that rocked the world, many companies are taking the opportunity to reimagine what makes them different – others even questioning their future existence. But reimagining the future is not something that comes in a manual. It is always important for a company to listen to its technological partner, while understanding the changes that its sector is going through. This is typically a joint project, which we call co-creation.
One of the greatest assets for this renewal is the effective treatment of data that companies have. Today, organizations capture large amounts of mostly unstructured data – including text documents, video and audio files, e-mails and images – many of which are generated quickly by multiple sources and in different locations. Gartner analysts predict that by 2022 more than 50% of the data generated by companies will be created and processed outside the data center or the cloud, increasing to 75% by 2025. Gartner also predicts that companies will triple their data volume unstructured stocks between 2019 and 2024.
Data is at the heart of every digital transformation. So how can organizations manage their data to innovate and generate new business and revenue opportunities? Without a systematic structure, data is little more than a set of unconnected information. The challenge is to extract value from this information, through the optimization and integration of data throughout the organization and throughout its value chain. A flexible, agile and efficient base is essential for data science and Artificial Intelligence to work their magic.
It seems like a simple challenge in theory but, in our experience, many organizations will initially experience difficulties in areas such as information management in different locations (in the company, in the cloud or, more likely, both), protection of data against loss and adequate security, application of AI and data science in the treatment of data, etc.
The importance of data as a foundation for digital transformation is increasingly understood by business leaders, with data-driven businesses able to exploit information at all levels to achieve strategic and operational advantages. In a recent Fujitsu study, we asked companies to assess their own evolution and 63% said they had already reached the end of their data-driven transformation, however, the study showed that only 5% had actually reached that point. Being able to demonstrate the difference between what you believe in internally and what is really happening is an essential first step in overcoming some of the most difficult obstacles that prevent change, such as cultural resistance, internal politics and a lack of support at senior level.
Building a data-driven company sets the strategic direction for the years to come. It makes sense to choose a partner who can stay the course. However, given the complexity of the digital transformation, no IT organization can be an expert in all aspects. We believe that data-based transformation needs an ecosystem, with several specialized organizations collaborating effectively to reimagine the future of companies.