Harvard Business Review Analytic Services, in association with Cloudera, revealed enterprise IT mandate to protect data and minimize risk at odds with business needs for speed and agility.
Cloudera Incorporated recently announced the findings of global research report in association with Harvard Business Review Analytic Services.
The research aimed to examine the trend, pain points, and opportunities surrounding business enterprises in a multicloud environment.
The insights of the report, “Critical Success Factors to Achieve a Better Enterprise Data Strategy in Multicloud Environment” were gathered from 150 global business executives representing a wide range of industries with over $1 billion revenue.
Statistically shown in the report that 69% of the organization, recognized a comprehensive data strategy but only 35% believed that their current analytics and data management capabilities are effective in meeting their business objective.
“Modern enterprises must overcome specific obstacle to realize their true potential and validate the need of new approach in data strategy,” said Arthur Murthy, chief product officer, Cloudera.
“Cloudera is committed to help customer who needs quick and easy access to data analytics anywhere their business operates, with built-in enterprise security and governance powered by the innovation of 100% open source. We call that an enterprise data cloud,” Murthy added.
The future of data analytics
With businesses managing data across private, hybrid and public cloud environments, report confirmed that multicloud is the future of analytics and Enterprise IT data, but progress are still to be made.
54% of the organization surveyed, has plans to increase the amount of data they are storing in the public cloud over the next year, but the majority still managed more of their data on-premises.
Different enterprises create their cloud strategies base on their specific needs. With it, their ability to securely access data no matter where it resides and to seamlessly migrate workloads has never been more imperative.
Functions are diversifying
Most organizations have leveraged their data to support traditional functions like business intelligence (80%) and data warehousing (70%). Newer functions are less common, but it’s on the rise, with 50% of the organizations surveyed planning to implement artificial intelligence and machine learning in the next three years.
To fully extract the business value embedded in data, an enterprise data strategy must support a full buffet of functions, from real-time analytics at the edge to artificial intelligence.
A deeper understanding of regulatory compliance and security
The introduction of new regulations and increasingly complex processes around governance means that every single person in an organization must understand the importance of keeping data secure and compliant. 10% of organization surveyed did not know if they were required to secure data within a regulatory framework or not, which is a small ignorance that could result in serious risk.
Multicloud as an Open Foundation
A specific approach to open source is essential for an effective enterprise data strategy, but 50% of the respondent agreed that current cloud service providers were unable to meet their need to access and open-source software. Open compute, open storage, and open integration are baseline capabilities that a comprehensive enterprise data platform must provide.
Harvard Business Review Analytic Services surveyed 185 global executives across a wide range of industries, with almost half being organizations with $1 billion or more revenue.