A recent Forrester study found that although three-quarters of companies want to be data-driven, only 29 per cent actually achieve it.
Data-driven companies are those that succeed in harnessing their data to gain insights they can use to grow the business. Forrester says that insight-driven businesses are global leaders, growing by more than 30 per cent a year, on average.
Given the obvious benefits, why are organizations struggling to get the maximum value out of their data?
Legacy technology will hold you back
Most organizations are still relying on a traditional, on-premises data warehouse. “The technology that was designed in the 1980s and 1990s just isn’t up to what’s required to handle all of the data that modern companies need,” says Bob Muglia, CEO of Snowflake Computing.
Another challenge is that there’s so much more data than ever before, says Muglia. Data is being generated everywhere from a range of disparate sources, including sensors, and web applications, internet devices, mobile apps, business applications. “The key thing people are looking for is, can they pull together all of their business data and make it available to all of their end users to make better business decisions,” says Muglia.
In a market review of data management solution providers, Gartner notes that a complete solution must be able to accommodate a diverse range of data types, including structured data from databases and semi-structured data generated by machines. It also needs to make it easier for organizations to share data with both internal and external stakeholders. What’s more, it must achieve all of these things at an affordable price.
Is a cloud data warehouse the answer?
The cloud has been a game-changer when it comes to managing the ever-growing volume of data. It provides the flexibility and scalability that organizations need, while allowing them to pay only for what they use.
But the question remains: how quickly can you analyze the data to gain valuable insights for your business? Recent developments combining cloud data warehousing with automation software allow organizations to store and rapidly analyze data without the cost and complexity they may be experiencing today.
Given the rapid changes in technology, many questions and misconceptions remain. Organizations wonder whether it is really possible to have a viable enterprise-wide data warehouse in the cloud. Is it a safe and reliable replacement for in-house solutions?
On October 24th, join ITWC CIO Jim Love and Michael Nixon, Senior Director, Product Marketing at Snowflake Computing, as they discuss “Five Things You May Not Know About Cloud Data Warehousing.” In this webinar, we will explore modern cloud data warehouse architectures and solutions. Among the topics to be covered are:
- Cloud versus on premises – how do the two really compare?
- Why are Hadoop implementations underperforming?
- Can moving to the cloud help with resource shortages?
- Is it safe to move sensitive data to a cloud data warehouse?
- What are the key elements to look for when choosing a cloud data warehouse solution?