Modernizing data infrastructure is a necessity.
With 83% of executives acknowledging that data and application modernization is central to their business strategy, companies that delay risk falling behind [IBM, Modernizing applications on hybrid cloud, June 2023].
In fact, four out of five organizations are already upgrading their processes to accelerate digital transformation [IBM, Modernizing applications on hybrid cloud, June 2023].
The benefits? Organizations that have fully modernized their AI-led operations see 2.5x higher revenue growth and 2.4x greater productivity compared to their competitors. [Reinventing Enterprise Operations Survey, 2024]
If you’re looking to stay ahead, you need a modernization strategy that stands the test of time. This blog breaks down how to build a data modernization strategy that not only solves today’s challenges but scales for tomorrow’s opportunities. Here’s how to do it right.
Source: IDC’s Data Modernization Services Buyer Perception Survey, 2024
A one-size-fits-all approach won’t cut it. Your modernization efforts must support your organization’s broader objectives. Ask yourself:
Start with a clear roadmap that connects your modernization efforts to tangible business outcomes. This ensures that investments yield measurable returns rather than becoming expensive tech upgrades with no strategic impact. So, define measurable objectives early and clearly.
Blackbuck Insights (BBI) modernized a global retailer’s infrastructure by migrating outdated on-prem applications to a public cloud and upgrading data and BI platforms. This shift involved moving large volumes of historical data along with implementing SLA-driven SRE and DevOps. As a result, the retailer achieved 99.9% platform availability, reduced resolution times by 70%, and lowered manual work by 30%.
Big-bang transformations rarely succeed. Instead, consider a step-by-step approach that minimizes disruption and delivers value incrementally.
By modernizing in stages, your organization can adapt to emerging trends and avoid costly missteps.
If you are looking for agility and scalability, look no further than cloud platforms. While moving to the cloud may seem daunting, a hybrid approach offers flexibility while leveraging existing investments.
A leading credit bureau needed to modernize its outdated legacy system, enhance data processing, and streamline dispute resolution while improving data governance. BBI migrated the system to a cloud-based infrastructure, introduced API-driven processes for seamless data exchange, and upgraded the Universal Data Access (UDA) framework with real-time data streaming and advanced search algorithms.
This transformation resulted in a more agile and cost-effective system with a significant reduction in infrastructure and software licensing costs, improved efficiency, and zero downtime due to infrastructure upgrades, decision-making, and customer experience.
The role of AI in data modernization cannot be overstated. Companies that have successfully integrated AI into their processes report 3.3x higher success in scaling AI-driven initiatives. [Reinventing Enterprise Operations Survey, 2024]
To make the most of AI:
AI-driven modernization enhances productivity and helps organizations make real-time, data-backed decisions.
Data modernization without a security-first approach is a ticking time bomb. Protecting sensitive information should be a top priority, especially as cyber threats evolve.
Best practices include:
By embedding security measures early in the modernization journey, businesses can mitigate risks while maintaining customer trust.
Future-proofing your data strategy is about making deliberate, strategic choices that position your business for long-term success. By aligning modernization efforts with business objectives, adopting a phased approach, leveraging cloud solutions, embedding AI, and prioritizing security, you’ll be well on your way to staying ahead of the curve.
The question isn’t if you should modernize; it’s when and how.
BBI is dedicated to guiding our clients towards their modernization goals by offering strategic advisory services, thought leadership, and top-tier resources. We provide proven patterns and best practices to ensure a seamless and successful transformation.
Ready to future-proof your data? Sign up for a demo to learn more.