The volume of data we collected by businesses shows no signs of reducing. Importantly, many companies have trouble getting started in terms of extracting true value from the data. With this, while manipulating and visualizing data gets the most attention, the CEO of Liaison Technologies, Bob Renner, believes the focus should be on the crucial element of delivering value from data.
Renner predicts that within the next five years, we can expect that organizations will improve at moving data around, and managing it will become a huge priority leaving businesses to answer questions like “what more can I do with this data?” To find out more, we spoke with Bob Renner.
Digital Journal: Thanks for the interview. What are the major challenges facing business?
Bob Renner: In today’s data-driven economy, companies that seek digital transformation are looking for new ways to integrate and manage data. They understand that excellence in data integration and management are required for successful digital transformation. Enterprise leaders also understand that data is the currency of business and that they must successfully manage and refine it to innovate.
Over the past several years, as data has arrived in multiple patterns and formats, companies found that their legacy integration tools aren’t up to the challenge. An Aberdeen Group study found that 84 percent of surveyed enterprises plan to replace middleware over the next four years. To select the best data integration and management solution, enterprise leaders need to understand how current trends will shape the data integration and management strategies of the future.
DJ: How has the digital transformation process altered the way businesses operate?
Renner: Traditional data domain boundaries are disappearing. Data used to be divided into domains according to integration patterns because early integration technology couldn’t handle multiple patterns. It’s now not only possible but much more efficient to handle multiple integration uses on a single platform, including B2B, A2A, social media, etc. That makes single-domain solutions impractical, driving demand for hybrid integration technologies.
DJ: What should businesses do in this data-rich climate?
Renner: Look to the cloud for efficiency, flexibility and scalability. Traditional on-premises middleware is being replaced with cloud technologies because, as enterprises seek digital transformation, they require efficiency, flexibility and scalability. One example of how cloud-based solutions can help is in the way they enable supply chains to operate as dynamic value ecosystems where vendors and suppliers collaborate to meet customer demand. The right cloud-based solution can provide insight to create this type of customer value across the enterprise.
DJ: Do you have any other tips for businesses?
Renner: Consider professional integration services. In a bid to bridge the gaps between cloud solutions and legacy middleware, many enterprises have turned to self-service “citizen integrator” solutions. Companies also employ highly skilled data scientists to uncover insights from data, which arrives in fragmented form. This approach not only burdens in-house IT professionals with integration projects, it leaves data scientists spending most of their time working as “data janitors.” Working with managed services partners to handle data cleanup and integration allows enterprises to focus on their core competencies and deploy internal resources to handle more strategic tasks.
DJ: How about data management?
Renner: : Out of necessity, IT departments and vendors have focused on improving integration over the past several years. The work of breaking down data silos is incredibly important. But once integration assets start producing usable data, it’s time to concentrate on applying that new information, which requires data management excellence. Data management is a strategic asset since data can yield insights that provide a competitive advantage via new business models and innovation.
DJ: What about data security?
Renner: : Ensure compliance with privacy and data security regulations. Keeping up with data security trends is a challenge, but it’s more important than ever with hacking, malware and ransomware on the rise. In addition to growing security threats, IT teams also struggle to keep up with changing regulations like PCI and HIPAA requirements.
Complying with applicable regulations is particularly difficult for companies that operate globally. For these reasons, more companies are turning to data management experts, operating on a secure, compliant platform and relying on their data partner to address not only platform security but associated people and processes.
DJ: What does the future have in store for businesses?
Renner: : This year will be a pivotal one for data integration and management decisions. As enterprises look to move on from legacy middleware and shift to cloud-based solutions, executives will be making important calls about whether to source expertise in-house or look to external assets. Many will choose to focus on their company’s core competencies and seek data integration and management expertise via partnerships.
The data integration and data management markets, once considered separate spheres, are increasingly thought of as a single entity: the data platform market. Executives who understand the trends at play as the market evolves know that each component is critical to success in a data-driven environment. By following these five tips, executives who are seeking digital transformation can find the resources they need to convert data into insight — and insight into success.
