SANTA CLARA, Calif.,
Nov. 30, 2021 /PRNewswire/ --
Cloudera, the enterprise data cloud company, today announced the
findings of a global research report1,
created in association with technology market research firm,
Vanson Bourne. The report examines
the correlation between the maturity of an organization's
enterprise data strategy (defined as an organization-wide,
integrated, holistic strategy across all lines of
business) and its business performance. It also explores the
impact that the ongoing COVID-19 pandemic and its uncertainties
have on businesses.
The research found that organizations with mature enterprise
data strategies in place for at least twelve (12) months report
higher profit growth at an average of 5.97%, according to surveyed
senior business decision makers (SDMs). Ninety-six percent (96%) of
SDMs reported that the way data is handled and managed has
positively impacted their organizations' performance, and close to
two-thirds (64%) reported stronger levels of resiliency from the
presence of a mature data strategy. Both SDMs and IT
decision-makers (ITDMs) share similar views, recognizing data as a
strategic business resource, but these groups have differing
opinions on operational processes and implementation.
"The presence of mature enterprise data strategies, optimized
for hybrid and multi-cloud environments, generate better business
outcomes," said Ram Venkatesh, Chief Technology Officer at
Cloudera. "Businesses look to data as an essential asset not only
to make sense of the constant change and upheaval of today, but
also to help prepare for what comes next."
Data Lifecycle Challenges Hinder Innovation
Visibility remains a key issue for organizations, with close to
nine in ten (89%) reporting secure, centralized governance and
compliance over the entire lifecycle as being valuable when
handling and managing data. Only twelve percent (12%) of surveyed
ITDMs report that their organization interacts with all stages of
the data lifecycle process – something immensely helpful in helping
organizations achieve an enterprise data strategy. Without complete
control and visibility over every aspect of data, organizations
will lack key capabilities required to drive innovation.
Effective Enterprise Data Strategies Remain Key
Organizations see the value in enterprise data strategies but
struggle to make them effective. Organizations utilizing enterprise
data strategies for more than a year reported them to be very
effective (63%), along with higher profit growth. Nearly all ITDMs
(91%) whose organizations have an enterprise data strategy in place
agree that their current strategy is key to their business
resiliency. SDMs surveyed report an average of $384,962 lost annually due to missed
opportunities involving data, with the Telecommunications industry
reporting the highest average annual loss of $6,617,348.
The Future Is Hybrid
The report shows an anticipated shift to hybrid cloud in the
next eighteen (18) months. With both SDMs and ITDMs reporting that
43.07% of their workforce will continue working remotely in the
next year, organizations are investing in infrastructure to support
hybrid working environments. A majority (79%) of ITDMs'
organizations are looking to house their data and performance
analytics on hybrid architectures. Among cloud options, multi-cloud
emerged as a clear favorite, with 44% of ITDMs indicating their
preference for multi-cloud architectures in eighteen (18) months'
time. With the hybrid data cloud, organizations can access and
analyze data fast and with ease to make smarter, data-driven
decisions to effectively meet the demands of today's
hyper-competitive business climate.
Accessing and managing data from multiple sources and locations
will give organizations the control and flexibility of utilizing a
hybrid workforce while still being able to run business as usual.
Nearly all SDMs (92%) believe that making sense of all data across
hybrid, multi-cloud and on-premises architectures is or would be
valuable. This finding mirrors the sentiments of a majority of
ITDMs (90%), who report that managing data with at least some cloud
capacity is a priority for their organization. A similar majority
(89%) believe that organizations implementing a hybrid architecture
as part of its data strategy will gain a competitive advantage.
Data Drives Success Beyond Profits
Utilizing data and analytics can yield more benefits than simply
increasing profit margins or gaining a competitive advantage. Most
organizations recognize the vital link between Diversity, Equity,
and Inclusion (DEI) initiatives and organizational success.
The research found that thoughtful data collection and analytics
contribute to the success of DEI initiatives. Nearly all ITDMs
(96%) and SDMs (95%) believe that data and analytics are important
to ensuring successful and effective DEI initiatives, and
ninety-five percent (95%) of both ITDMs and SDMs agree that DEI
initiatives contribute to organizational success. Organizations
with effective enterprise data strategies in place are better able
to utilize data and analytics to benchmark and evaluate employee
diversity programs. With greater visibility over diversity within
organizations, comes better decision-making, greater innovation and
higher engagement in the workplace.
For more information on the "Cloudera Enterprise Data Maturity
Report: Identifying the Business Impact of an Enterprise Data
Strategy", visit:
https://www.cloudera.com/campaign/enterprise-data-maturity-research-report.html
Methodology
Vanson
Bourne conducted the survey online and over the phone
between July and September 2021,
surveying 3,150 respondents holding either C-Level, senior
management or middle management positions from large organizations
(defined as 1,000 or more employees) across both public and private
sectors. Respondents were from the following fifteen (15) markets:
Australia, China, France, Germany, India, Indonesia, Italy, Japan,
Singapore, South Africa, South
Korea, Spain, UAE, UK, and
the USA. All interviews were
conducted using a rigorous multi-level screening process to ensure
that only suitable candidates were given the opportunity to
participate.
Additionally, Vanson Bourne used
a series of questions and scores to compile an 'Enterprise Data
Cloud Maturity Model' to assess respondents' maturity when it comes
to their current capabilities, and handling of data and analytics.
Based on the respondent's results, the respondent's organization
was categorized as either a Digital Leader, Digital Adopter,
Digital Evaluator, or Digital Laggard. Questions contributing to
this model center on the current use of data and analytics, parties
championing the use of data and analytics, the extent to which data
is used across processes, the presence of enterprise data
strategies, and the extent to which capabilities relating to an
Enterprise Data Cloud have been achieved.
1 The report, "Cloudera Enterprise Data Maturity
Report: Identifying the Business Impact of an Enterprise Data
Strategy", is based on insights from 3,150 global senior business
and IT decision-makers representing a wide range of industries,
from organizations with 1,000 employees or over.
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SOURCE Cloudera, Inc.