Data and analytics are the key enablers for digital transformation. Reimaging/redesigning your data and analytics require a new way of thinking about how to source, transform and consume data in the cloud and to leverage AI and advanced analytical techniques. Cognizant Adaptive Data Foundation, a responsive data platform that delivers intelligence across the organization, can be a springboard to successful digital transformations.
How important is digital transformation to you? For almost every client I talk to, it’s their number 1 priority. This is because businesses across industries are facing an existential threat if they do not embrace digital; core offerings are attacked by digital initiatives that set new customer expectations, unattainable with the organization’s legacy approaches.
Let me give you some examples of how digital natives are disrupting the market with highly responsive, intelligent technology models: Amazon creates an analytical opportunity and an application update every 11.57 seconds, and Netflix makes over 1,000 updates to their applications and analytical models every day. How to counter potential entry of a digital native into your market then? For most organization, digital transformation is the competitive strategy of choice.
Data an important driver
Digital transformation, in its turn, is dependent on data. Data is the very fuel that can make the transformation happen, as reported in the PAC Trend Study, commissioned by Informatica and Cognizant, where 500 IT and non-IT decision-makers across Europe were interviewed (download it below to get all the details).
Furthermore, the Harvard Business Review Analytic Services: Closing the Gap: Beyond Digitization to Business Transformation, 2017 suggests that disconnected data is negatively impacting organization’s ability to innovate, develop new products and services, and get them to market quickly.
So, data is important, but where do you start to digitally transform your business? The transformation typically starts with a business model change supported by an operating model change and, most importantly, enabled by a technology model change. To drive business model change, you should be aware of the three most important building blocks:
How can one deliver intelligence across all these three foundational building blocks? To accomplish that, you need a modern, adaptive and responsive data platform. Unfortunately, according to my experience, many organizations lack a holistic view. They simply don’t know what components of a data foundation that are required to transform.
A kick-start model for data
To help, we have developed a reference model – Cognizant Adaptive Data Foundation. It’s a new way of thinking about how you can source, transform and consume data in the cloud and leverage AI and advanced analytical techniques to deliver intelligence. The model helps you assess the gaps in your current data and analytics ecosystem and to establish three much needed objectives: a responsive architecture, an AI driven intelligent data management system and an operating model that delivers at scale.
The best way forward? I suggest you engage in an Adaptive Data Foundation Expert Services practice to perform a fit gap analysis. Feel free to contact me directly to discuss.