With the rise of a digital economy, the way organizations make decisions are dramatically changing. You may have read stats like “by 2020 the growth in cloud data traffic will increase by 3.7x.” Couple that with “we’ll be living with 21 billion connected things by 2020” and the direction of the digital playing field is clear. With “data” and “things” moving to the cloud, the time to start thinking about investing in cloud analytics has passed, and it’s now time to take action—and we’re hearing that many customers are doing just that.
In this digital future, we know leading organizations are not only using analytics but are consuming it as the fuel for growth. Research suggests that 78% of decisions made by leading organizations are based on data driven analysis. But connecting to data and things is only one piece of a bigger picture—people and process must also enter the equation since 75% of decisions by leading digital organizations can be mapped directly to company strategy and 62% of decisions are distributed across the organization.
This decision cloud landscape continues to intensify as decisions themselves are moved to the cloud into autonomous models in which machine learning algorithms and Artificial Intelligence (AI) apply analytics and take on increased levels of decision making. Of course, the AI takeover is a tectonic shift which offers exponential value and inherent risks (Skynet anyone?).
Bring Your Analytics to Your Data with a Hybrid Approach
Before we skate too far ahead, organizations must face the business reality of today. Bringing together people, process, data, and things requires a balanced approach especially when it comes to data and analytics. Where the real work begins is how organizations can take advantage of existing on-premise data and analytics technology investments, while creating a path to the future as more and more data and things shift and are born in the cloud. This includes the marriage of data from on-premise and cloud sources.
