Harnessing the Power of Data Migration in Building Modern Data Culture

Data Migration

Date : 06/09/2023

Data Migration

Date : 06/09/2023

Harnessing the Power of Data Migration in Building Modern Data Culture

Migration is the key to transitioning to cloud-based data culture. Reduce infrastructure costs and enhance data security with Tredence's data migration services.

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Enterprises today are in a race to adopt the cloud and its suite of applications and tools. Many publicly available data would corroborate this. Let’s take Gartner, for example; in one of its reports, the analyst firm forecasts that the public cloud end-user spending will reach nearly $600 billion in 2023. But why are industries moving more and more to the cloud? One of the reasons is the benefits that data migration brings. Enterprises need a proper and scalable solution for the increasing data generated at an unprecedented rate—as per Statista, it’s 120 zettabytes in 2023.

To give you an overview of how incredibly large it is – if we stack $1 bill 120 Zettabytes time, it will reach 7.4 million light years, much greater than the diameter of the milky way galaxy.

That’s why effective data migration on the cloud is the obvious and most convenient, cost-effective, and secure way to store, manage, and analyze data. And that is why every organization, big or small, should have a strong data foundation roadmap and a robust data migration strategy.

How, then, does the cloud facilitate the management, storage, and analysis of such astronomical quantities of data? This blog explores the modern cloud, its relevance, enterprise readiness to move to the cloud, and the need for a robust data culture to maximize its benefits post-data migration.

Why Does Modern Data Culture Hinge on the Cloud?

Imagine your data unrestricted and liberated from physical constraints, accessible at any time and from any location, and driving collective decision-making. It is no longer a pipe dream but a reality. In fact, businesses that have embraced cloud platforms and executed successful data migration can introduce new capabilities to the market 20 to 40 percent quicker. It provides unprecedented adaptability and scalability, allowing companies to easily adapt to changing circumstances.

Firms generate $1.4 million in sales for each new hire with cloud skills, according to a new study.

First, let’s go through the finer points on why cloud can be a boon for strengthening the modern data culture and how data migration plays a part in it.

  • Flexibility and Scalability: The adaptability and scalability of the cloud are altering how we view data storage and access.
    • Businesses utilizing the cloud, post data migration, eliminate expensive on-premises hardware, gain productivity benefits, and easily adapt to their needs.
    • According to MIT, the cloud's flexible deployment model enables businesses to start modestly and scale up as needed, unlike traditional on-premises software applications, which frequently require long-term planning and fail at high rates.
    • Moving away from on-premises IT infrastructure also eliminates geographic restrictions, allowing businesses to locate their technology assets and workforce anywhere, further reducing operational costs.
  • Enhanced Collaboration: In a globalized world, geographical boundaries do not restrict teams. With the cloud, real-time data access enables seamless collaboration, accelerating decision-making and substantially increasing productivity. This is even more common after a successful data migration to the cloud.
    • Cloud capabilities enable businesses to operate and collaborate regardless of location. Team members can access files and applications from any Internet-connected location, allowing remote work and collaboration across multiple sites. This adaptability can boost productivity.
    • The transition from on-premises IT infrastructure also eliminates geographical restrictions on where companies can locate their technology assets and the employees who utilize them. This can reduce operating costs, as offices for knowledge employees no longer have to be found in high-cost markets, increasing the number of candidates with cloud-related skills.
  • Faster Time to Insights: Insights are crucial for data-driven decisions. With the cloud, enterprises will have quick access to data, allowing them to generate insights more quickly. This means having the edge over the competition and promptly navigating the ups and downs of business dynamics.
    • Cloud enables real-time data access, which can improve decision-making and productivity. Using the same data set, teams can collaborate, reducing errors and duplication of effort.
    • Rapid decision-making is crucial in today's fast-paced business environment, and quicker access to data can facilitate this.
  • Reduced Cost and Infrastructure: Besides reporting productivity gains of up to 20%, businesses that have embraced the cloud and executed successful data migration also report sizable cost savings. In fact, by removing the need for expensive hardware and infrastructure, using the cloud can reduce IT costs by an average of 20%.
    • Microsoft states that its own cloud solution, Azure, helps enterprises save capital by cutting their requirement for infrastructure and maintenance, leading to as much as 80 percent savings in costs. They also find that lowering capital expenditures, which include servers and data centers, is an important variable in these savings.

    • Likewise, Cisco predicts that by 2021, cloud-based data centers will process 94% of workloads, signaling an important transition away from on-premises hardware.

    • With data on the cloud, businesses can save on the upfront costs and scale their data storage and processing parameters as per their need and choice to suit their current requirements. In addition, the pay-as-you-go pricing system, offered by various cloud providers, further lowers costs and improves flexibility.

  • Improved Security: None of the above measures would be logical or even possible without robust security. With secure data centers, higher safety standards, and encrypted connections, the cloud provides additional safety layers. Moreover, with specially trained personnel monitoring and responding to threats, enterprise data is both secure and accessible.
    • Cloud providers, which include Azure, AWS, GCP, and others, offer secure cloud infrastructure that exceeds all security requirements, including authentication, data encryption, and access control, making data migration secure. In addition, they provide services such as logging and monitoring, which enable businesses to trace who has access to their data and how it is being used.
    • Cloud service providers also offer auditing capabilities that assist enterprises in discovering any issues or changes in their systems that could compromise the security of their stored data.

Understanding Modern Data Culture

Data and Analytics, or D&A, are the leading edge of corporate innovation moving forward. They are the driving force behind productivity, propelling the most innovative companies in the world to new heights.

Companies using data-driven B2B sales-growth engines report above-market growth, and EBITDA increases 15 to 25 percent. - McKinsey

However, harnessing it is no easy task. Numerous D&A initiatives, including data migration, fail to deliver the anticipated business outcomes before completion.

Why?

The dearth of a data culture is a significant barrier.

Data culture is the organization-wide commitment to leveraging data to improve business performance.

But why is data culture so important? Why is it more than just another business cliche?

A robust data-centric culture makes businesses more effective and more efficient. Organizations that utilize data insights make smarter decisions and typically develop faster than their less data-savvy competitors. In addition to fostering growth, a data-driven culture increases profitability and sharpens operational efficiencies. Businesses that embrace a data culture realize the maximum potential of their data.

Being cognizant and embracing modern data culture is no longer an option but mandatory.

The tools and tech stack, processes, and individuals responsible for gathering, analyzing, and interpreting data are at the very core of modern data culture. This integrative approach to data transforms unstructured data into actionable insights, encouraging efficiency in operations and innovation.

Most importantly, the modern data culture symbolizes a transition towards data-driven decision-making. It allows people to utilize data in everyday tasks, transforming enterprises into truly data-driven organizations. In a world where 90% of the world's data was generated in the last two years, a robust data culture could be the difference between market leadership and lagging.

What Does a Modern Data Culture Look Like? 

Let's explore the three essential components:

  • It emphasizes data literacy and education initiatives. A data-literate workforce is essential. Organizations ensure that all employees, from interns to executives, understand data - its sources, potential, and limitations - transforming them into data champions.
  • The second characteristic is an unwavering commitment to data governance and ethics. Responsible data usage is not just about compliance but also about building trust. By ensuring the ethical and responsible use of data, organizations acquire the trust of their customers and stakeholders.
  • Lastly, advanced analytics (AA) and AI tools and techniques must be implemented. This is the process by which unprocessed data becomes invaluable insights that can be used to redefine a business model or create a revolutionary product.

Together, these pillars form the solid foundation of a modern data culture that is prepared to fuel your business's success in the digital age.

Read Data Migration 101 to dive deep into the concepts, benefits, and best migration practices.

Leveraging the Cloud for Modern Data Culture

Data Storage and Management

Imagine a scenario where data management is not a bottleneck but rather a driving force behind progress and innovation. That’s what the cloud offers. Businesses can transform how they manage and safeguard their data by leveraging the cloud. Furthermore, you may access an immense amount of data with cloud-based storage solutions without worrying about physical infrastructure. Also, the cloud offers full data management capabilities, making organizing, categorizing, and protecting data simple.

Data Processing and Analytics

Data-driven, intelligent decision-making is made possible by the incorporation of advanced methods for data processing, such as machine learning and predictive analytics. Data migration plays a crucial role in enabling these capabilities. Additionally, these insights can possibly be implemented with greater speed than ever before because of real-time analytics. 

Data Integration and Sharing

Next, with cloud’s robust data integration and sharing capabilities, one can have a unified and integrated view of their entire enterprise data. And let's not forget that cloud computing makes collaboration quite easy. Sharing, brainstorming, and refining data projects are simplified, enhancing the speed and precision of your decisions.

Data Visualization and Reporting

Finally, the cloud provides data visualization and reporting tools. The visualization of complex data insights becomes intuitive and interactive, transforming raw data into compelling, easily digestible narratives. From real-time dashboards to customizable reports, cloud-based reporting tools help you monitor the vital signs of your business, ensuring that stakeholders are always informed.

Whether it's storage, processing, integration, or visualization, the cloud is your all-encompassing platform, bringing the promise of modern data culture to life.

Best Practices for Building a Modern Data Culture with Cloud Technology

Building a modern data culture using the cloud is essential in today's data-driven environment. However, how can efficient data governance, security, accessibility, and quality be ensured?

Following these best practices can create a modern, secure, and effective data culture that propels your company forward.'

Data Governance and Management

  • Distinct data ownership, classifications, retention guidelines, and a thorough data dictionary.
  • Always follow regulatory norms.
  • Encrypt data in motion and at rest, implement strict access controls and frequently audit data access.
  • Ensure the cloud service providers you choose adhere to applicable data privacy laws.
  • Prioritize user training to ensure employees can access data without any trouble.

Data Accessibility and Availability

  • Key elements include effective data sharing, reliable recovery plans, and cloud-based data integration technologies.
  • Equip your stakeholders and employees with proper hands-on training on accessing and using data effectively.

Data Quality and Consistency

  • Using cloud-based tools, define precise data definitions, standardize formats, validate, and clean up your data.
  • Set continual maintenance and monitoring as a top priority.

Challenges With the Cloud and How to Overcome Them

How organizations manage data is being transformed by cloud-based services. But migrating has downsides and factors to consider. Let's cast a light on the way ahead.

  • Problems with data security and system compatibility are a few examples of technical and operational challenges. Organizations must acquire the skills to oversee and track these operations and align their infrastructure with the cloud environment.
  • There are also organizational and cultural issues to consider. The cloud-first approach may be questioned by staff members accustomed to on-premises technology. But embracing a collaborative and innovative culture might bridge the gap.
  • Compliance and data governance should be addressed. Data ownership and ownership, data security, and compliance with regulations like GDPR and HIPAA all require thoughtful planning.
  • Issues around data security and privacy arise when migrating to the cloud. Businesses have a responsibility to protect consumer information against breaches and unauthorized access. You must adhere to strict regulations and comply with GDPR and PCI DSS laws.

What is Data Migration Services: Is it a Key Factor in Leveraging Cloud Power?

Data migration services are essential in moving an organization's data from its current infrastructure to a cloud-based model and frequently constitute a major component of any modernization strategy. Various structured or unstructured data types are routinely dispatched from the point of origin to the destination as part of these services. But it's more than a case of lifting and shifting.

Data migration services can be challenging since service providers must deal with compatibility concerns between old and new infrastructure, safeguard against data loss, maintain data integrity, and prevent downtime. These variables need to be taken seriously while migrating data, which incorporates an array of tactics, from thorough preparation and risk evaluation to testing runs and post-migration assistance. The migration providers' expertise and competence in dealing with these variables often characterize successful data migration services. Organizations can benefit from the benefits of a modern data culture by leveraging these services to ensure an efficient, innovative, and effortless migration to the cloud.

Why Migrate to the Cloud, Given the Challenges and Variables?

Scalability, teamwork, and cost reduction are three key benefits.

By adopting a modern data culture, enterprises may stay competitive, promote growth, and make data-driven decisions. Though this transformation may appear difficult, the benefits are enormous.

Businesses may open the door for tomorrow's chances by utilizing the cloud.

Cloud computing is not simply a trend; it is the future standard as well. Embrace the cloud. Embrace the future.

Editorial Team

AUTHOR - FOLLOW
Editorial Team
Tredence

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