In today’s fast-paced digital landscape, organizations are dealing with an explosion of data like never before. Data is the lifeblood of modern businesses and organizations of all sizes and industries. They are increasingly relying on it to drive their growth and success. However, many of them still struggle with legacy data systems that are inefficient, inflexible, and unable to keep up with the pace of technological change.
Data modernization has become critical for businesses looking to stay competitive in today’s data-driven marketplace. In this blog, we will explore the concept of data modernization and the role of the cloud in data modernization with the benefits of implementing a successful modernization strategy. We will also discuss some best practices for organizations starting their data modernization journey.
So, let’s get started!
Table of Contents:
Data modernization is about upgrading an organization’s legacy data systems to more modern and agile architectures that can support the changing needs of the business. The goal of data modernization is to make data more accessible, functional, and actionable while also reducing the complexity and costs associated with managing large amounts of data. It would involve rethinking how data is stored, collected, processed, and analyzed while leveraging new technologies and tools that enable faster and more efficient data processing, storage, and analysis. Simply put, it is a critical initiative for organizations that want to unlock the total value of their data, stay competitive across their industry segment, and provide better customer experiences.
The cloud has emerged as a critical enabler of data modernization, providing organizations with a flexible and scalable platform to store, manage, and analyze data. Cloud-based data modernization allows businesses to break free from the limitations of on-premises data systems and take advantage of the cloud’s agility, speed, and cost-effectiveness.
With cloud-based data modernization, organizations can now centralize their data in a single, easily accessible location and scale their infrastructure up or down as needed. Businesses can effectively generate valuable insights by utilizing modern data infrastructure like cloud data warehouses and data lakes. They can also use advanced data analytics tools, such as machine learning and artificial intelligence, to help them extract valuable insights from their data.
Cloud architectures help businesses to leverage:
In addition, the cloud offers robust security features that help protect against data breaches and ensure compliance with data regulations.
Did you know?
According to Statista;
Overall, cloud-based data modernization offers organizations a powerful solution to modernize their data systems, gain a competitive edge, and drive innovation.
Data modernization offers several benefits to organizations of all sizes, including enterprises, SMBs, and start-ups looking to make the most of their data assets. Here are some key benefits:
Data Governance is the foundation of data modernization. It provides the framework and guidelines for managing data effectively and efficiently. Data governance involves defining policies, processes, and procedures for collecting, storing, processing, and analyzing data and ensuring that data is accurate, consistent, and secure. It helps organizations ensure that their data is modernized to align with business objectives while complying with regulatory requirements and privacy laws. Data governance helps organizations identify and prioritize their data assets and determine which data sets are most valuable for their business.
Effective data governance helps organizations overcome some critical challenges associated with data modernization, such as data quality issues, data silos, and lack of transparency. By establishing clear policies and procedures for enterprise data management, data governance can help ensure that data is consistently and accurately managed across the organization and easily accessible to those who need it.
So, before starting data modernization, you need to comprehensively understand your company’s data, like its types, categories, access management policies, etc.
Ask yourself questions like:
Overall, data governance is a critical component of data modernization. It helps organizations manage their data assets effectively and efficiently and ensures that their data is aligned with their business goals and objectives.
We help modernize the data by migrating what’s essential and extracting value with our consumer-centric data management approach.
As discussed, data modernization is updating and transforming legacy data systems into modern data platforms that can support emerging technologies and data-driven decision-making. Here’s a general outline of key steps that offers a structured approach to this process, outlining the steps required to achieve the desired state.
By following these key steps, organizations can successfully navigate the complex data modernization process and achieve the desired outcomes.
Data modernization can’t always be smooth and straightforward. You might face challenges like extracting data from legacy systems stored at multiple siloed data sources, poor data quality, and the access policy restricting smooth data migration to the modern data platform. Additionally, there could be a high dependency on legacy systems, and your organizational policies, culture, and regulations don’t support cloud migration. Therefore, before starting cloud data modernization, several key considerations must be remembered. Here are some of the most critical ones:
Choosing the right technology partner for your data modernization initiative would make the difference between the success and failure of your data strategy. We have the experience and knowledge to enable you to take a holistic approach with our data engineering services. Aligned to your business priorities, we help reimagine your data platform in the cloud. Our seasoned architects and engineers make modernizing your legacy data systems and applications faster and more cost-efficient. They have hands-on experience with cloud technologies & platforms – AWS & Azure. We apply an efficient and smart approach to move business data to/from on-prem legacy systems onto modern databases, including cloud storage infrastructure (data lakes or warehouses) or new target platforms. Our team builds and implements intelligent platforms that facilitate real-time exploration & analysis of data from disparate systems. We help you migrate, modernize & manage your databases and dataflows on scalable cloud-based systems
A leading outdoor advertising (ad) company wanted to streamline and upgrade its legacy ad inventory system. It was with manual data management processes across disparate systems.
We helped re-engineer the software that could process millions of data sets to offer inputs in real-time, enhance inventory use, and address many bookings simultaneously. The revamped solution helps track ad placement orders based on their live status and across diverse regions, from selection to delivery over a simplified user interface.
Read more about how the modernized digital ad inventory management software helped our client track multiple orders from diverse regions in real-time and fulfill them.
While data modernization is a crucial process that enables organizations to transform and optimize their data infrastructure, it meets the demands of today’s rapidly evolving digital landscape. And by implementing modern data management tools and technologies, businesses can gain valuable insights, streamline their operations, and enhance their decision-making capabilities. Whether through cloud migration, data consolidation, or adopting new data analytics and visualization tools, data modernization offers numerous benefits that can help organizations stay competitive and achieve long-term success. However, it’s essential to approach data modernization with a strategic mindset and a thorough understanding of your business’s unique needs and challenges. With the right approach, data modernization can be a powerful driver of growth and innovation for your organization.