By Paul Mah on October 21, 2020           CDO Trends, Digital Insights for Business Leaders

Chief data officers (CDOs) of large and mid-sized companies are gaining significant competitive advantage through analytics and activation of fast-growing, cloud-based data repositories.

However, they are facing tough logistical challenges when it comes to simplifying and improving the migration and synchronization of data across hybrid and multi-cloud environments, says a new report by the BPI Network.

Engine for business growth

Entitled “Bringing Simplicity to Multi-Cloud Complexity: Advancing Data Connectivity, Logistics and Value,” the report highlights the growing importance of the CDO and the need to expand the accessibility (and value) of data and analytics across distributed enterprises.

Data has become one of the chief engines of value creation, notes the report. It plays a role in a plethora of business functions, from improving analytical decision making, measuring performance, improving business processes, managing risk, enhancing the ability to understand, and reaching and engaging with customers, among others.

Based on interviews with almost 20 CDOs and cloud experts from organizations such as Commerzbank, Deloitte, Cognizant, IBM, Pure Storage, TIBCO, and Teradata, the report found that:

  • Most CDOs interviewed are building and refining data lakes in the cloud to expand their capacity to manage and analyze their growing volume of data.
  • They are grappling with a host of complexities around data quality, security, synchronization, migration, governance, and visibility.
  • Instead of trying to achieve too much too quickly, the consensus is to focus on immediate, achievable use cases with an eye out for future opportunities.
  • Organizations need solutions that can replicate and move data efficiently and selectively between locations without compromising data integrity.

One of the chief goals of modern data initiatives is to increase access to analytics across functions and business units within their companies, notes the report, with the cloud playing a vital role.

Turning to the cloud

While the report is sponsored by DBM Cloud Systems, which specializes in hybrid and multi-cloud data management and replication, there is no question that enterprises are increasingly turning to cloud service providers. As businesses grapple with dramatically growing data volumes and sources, the cloud has emerged as the platform of choice for data storage and analytics.

As you might expect, cost efficiency, scalability, and elasticity of storage and processing in the cloud were cited as major considerations. To be clear, the biggest driver of the cloud resides not in its ability as an easy and cost-effective place for data backups and recovery, but its ability to support big data analytics. This means that analytics, data management platforms, tools, and expertise offered by service providers matter, too.

“Enterprises see the cloud as the best platform for next-generation data modernization and analytics due to its scalability, flexibility, and the advanced tools and resources available through leading cloud providers. Many believe the future of these efforts will include multiple clouds to take advantage of the strengths and capabilities of different providers,” said Dave Murray, director of thought leadership with the BPI Network.

“But all of the executives we talked with agree there are substantial challenges to realizing the full value of these initiatives. Harmonizing and cleansing data based on business needs and advanced data replication and migration solutions that protect data integrity are major requirements.”