This IDC report highlights the need for highly competent capabilities — skills, infrastructure, and platforms — necessary for Data-to-Digital. Using the IDC Data-to-Digital framework and IDC Data-to-Digital Quality Characteristics spectrum, FSIs can determine what legacy data should be in-scope and how to transform it into digital data. Transforming legacy data means making it accurate, intelligent, trustworthy and connected, and available for digital consumption.
Michael Araneta, associate VP, IDC Financial Insights Asia/Pacific says, "Data-to-Digital initiatives are only successful when capabilities are in place and mature. It is not for the inexperienced or those lacking mature infrastructure and development platforms. Without the correct infrastructure components, development platforms, and skills to support them, the Data-to-Digital initiatives will inevitably fail. Data-to-Digital initiatives need to be approached more cautiously while capabilities are being sourced and matured."
Steve Shipley, senior executive adviser, IDC Financial Insights Asia/Pacific adds, "Digital data skills are scarce, in high demand, and critical to achieving Data-to-Digital. A combination of learning, crowdsourcing, partnering, and industry collaboration is required to provide sufficient resourcing to tackle Data-to-Digital. Investing in AI, DevOps, and other capabilities presented in this report further leverages the scarce skill base and is necessary to ensure Data-to-Digital can be delivered at velocity and scale required for DX to be successful."
IDC Financial Insights: Asia/Pacific Financial Services IT Strategies , IDC Financial Insights Preferred
Analytic applications, Cognitive/artificial intelligence, DevOps, Digital transformation, Governance, risk and compliance infrastructure, Information protection and control, Integration and process automation middleware, Platform as a service, Technology buyer