IDC and CTS Virtual Roundtable

On Tuesday May 18, at 8.30am BST IDC will host a Virtual Roundtable: How to Improve Your Customer Engagement with Data and ML, sponsored by CTS in association with Google.

We are at the tipping point of becoming a digital economy, and IDC predicts that more than 65% of GDP will come from the products and services of digitally transformed organisations by 2022.

In a digital economy, enterprises require new competencies such as digital resilience, embedded intelligence, rapid innovation cycles, and digital trust capabilities to deliver value to customers, the workforce, industry, society, and the economy.

Data underpins all these competencies, and organisations' reliance on data has increased in the wake of the current disruptive market conditions; they see a strong correlation between data-driven insights and business outcomes. For example, data-driven programs are bringing business outcomes such as:

• Improved risk management
• Operational efficiency
• Single version of truth
• Boosting customer experience
• Better products and services
• Attracting and retaining new data stewards and professionals for competitive advantage
• Building digital trust
• Better business preparedness

It is no surprise then that for nearly 87% of CXOs, becoming an "intelligent organisation" in the next 4–5 years is a top business priority.

Already, 55% of organisations state that investments in data management, analytics, and ML/AI to enable better visibility and improved decision-making is necessary for digital resilience and to thrive in the next normal.

But becoming a data-driven organisation is not accidental. What differentiates data-driven organisations is that their culture, IT architecture, and digital strategies are focused on driving intelligence and automation across the enterprise and continuously learning to scale and adapt faster than competitors. 

But for most organisations, there are challenges at the technology, process, data, and culture levels.

In conversations with IDC, CIOs admit challenges such as data growth, the cost of data management, ransomware risks, data silos, a lack of granular visibility, poor data quality, legacy technology architecture and tools, a lack of modern data services such as integration, data cataloguing, and automated management, or governance challenges. IDC research shows that business data is growing on average at 50% YoY and ransomware attacks are cited as the top data protection challenge. Data quality is a top bottleneck for 55% of organisations.

Even more significant challenges are a lack of trust in insights, limited skills, lack of buy-in from key stakeholders, disconnect between business outcomes and data initiatives, and complexities in synthesising multiple sources of information for effective insights.

IDC's Rethink Data study for Seagate revealed that only 32% of data available to enterprises is put to work. The remaining 68% is unleveraged.

It is time to challenge the data infrastructure, data management, analytics, and processes status quo to maximise the return from data.

IDC predicts that by 2023, 50% of G2000 companies will have active development teams seeking to externally monetise their data to enhance traditional offerings, drive innovation, or deliver data and analytics as a service.

Are you ready?

The roundtable discussions will talk about the data-driven digital enterprise trends, where savvy organisations are investing, what use cases data can power, and best practices in maximising the value of your data.

Discussion topics:

• What are the top agenda items of C-Suites to thrive in the digital economy? What is the role of data in helping organisations realise their digital objectives/execute on agenda items?
• How successful are organisations in their digital strategies? What are the current infrastructure and data barriers to executing on that strategy?
• Determining the right data strategy, processes, and technologies for digital success: Best practices and Recommendations