Topics In Demand
Notification
New

No notification found.

Bridging the Data Multiverse: The Fusion of Intelligent Storage and Strategic Data Management in Today’s Digital Era
Bridging the Data Multiverse: The Fusion of Intelligent Storage and Strategic Data Management in Today’s Digital Era

February 15, 2024

8

0

With the advent of smartphones, IoT devices, social media platforms, and digital services permeating nearly every aspect of our lives, the sheer volume of data being produced is staggering. This exponential growth is especially evident among enterprise customers, who are witnessing an unprecedented surge in their data footprints, escalating at a remarkable rate of 30 to 40 percent year over year. This exponential growth presents a crucial dilemma: should organizations store every byte of data, or is it imperative to first analyze its value and then decide its course of action? Navigating this landscape requires a deep understanding of data nuances – its origin, relevance, ownership, importance, sensitivity, and compliance. Recognizing this need, Data Dynamics and Hitachi Vantara have joined forces, offering intelligent storage management solutions to help enterprises unlock the full potential of their data assets. Join us as we delve into the intricacies of intelligent data and storage management, essential elements in driving business innovation and success in today’s data-driven world.

Navigating the Data Deluge

From the moment we wake up to the time we retire for the night, our actions, interactions, and transactions leave behind digital footprints. Whether we’re browsing the web, engaging with social media, making online purchases, streaming content, or even commuting using smart transportation systems, each activity generates a stream of data points. These digital footprints coalesce into vast reservoirs of data, accumulating with each passing moment.

This deluge of data encompasses a myriad of formats, ranging from structured data, such as transaction records and customer profiles, to unstructured data, like social media posts, sensor readings, and multimedia content. According to Forbes, 80% of data generated is unstructured, and most companies only analyze 12% of it. As technology advances and penetrates our daily routines, the volume, velocity, and variety of data being generated show no signs of slowing down. Harnessing this data deluge presents both opportunities and challenges for organizations seeking to derive actionable insights, drive innovation, and stay competitive in an increasingly data-driven world.

This exponential growth of data begs a crucial question for organizations: do they need to store all of it, or is it imperative to analyze the data before determining its significance and potential utility?

The exponential growth of data presents a formidable challenge in terms of storage capacity, infrastructure costs, and the complexity of managing such vast quantities. Simply storing every byte of data without discrimination can quickly overwhelm systems, leading to skyrocketing expenses and operational inefficiencies. Imagine trying to find a needle in a haystack amidst a mountain of unanalyzed, unstructured data – it’s a daunting task. Moreover, the need to classify and categorize sensitive business and customer data for privacy and compliance adds another layer of complexity.

A significant portion of this challenge revolves around unstructured data, which makes up a whopping 80%, according to Gartner. This type of data resembles a wild jungle, lacking the orderly structure of well-managed databases. Despite its chaotic nature, unstructured data holds a treasure trove of insights crucial for understanding customer behavior, market trends, and operational efficiency. However, managing and analyzing such vast volumes poses significant hurdles, particularly in terms of storage and organization. Its complexity often renders it dormant, hiding its potential for driving innovation, mitigating risks, ensuring compliance, and expanding market share. Real-world examples abound, such as financial institutions facing regulatory penalties due to inadequate management of financial documents.

It’s high time for a paradigm shift, recognizing unstructured data management as the next logical step in the evolution of data and storage management. Enterprises must rethink their approach, prioritizing analysis before storage. Adopting a strategic stance toward data management means focusing on relevant, valuable, and actionable data while archiving or discarding redundant, obsolete, or trivial (ROT) data. The goal isn’t merely accumulation but deriving meaningful insights that fuel business value and innovation. By embracing a data-driven mindset, harnessing advanced analytics, and leveraging emerging technologies, organizations can gain a competitive edge, spur growth, and shape the future of their industries.

At the core of this transformation lies the need to have the right data in the right place with the right context. This requires a multifaceted approach, starting with gaining a comprehensive understanding of the organization’s data landscape: what types of data are collected, where they’re stored, how they’re accessed, and who has permission to manipulate or analyze them. Conducting thorough data inventories enables organizations to make informed decisions regarding data storage, retention, and usage policies, thus gaining visibility into their data assets.

When it comes to storing data, particularly unstructured data, three pivotal questions arise: What data are we storing, do we need it, where is it headed, and is it safeguarded and compliant? These inquiries stand as linchpins for success, spanning from efficient data management and ethical considerations to cost-effectiveness. To address these queries and harness the full potential of their data, businesses are turning to intelligent storage management solutions one that blends IT and data analytics & management. These solutions ensure streamlined data access, improved data quality, and enhanced visibility into data contents. By enabling advanced analytics capabilities and real-time data processing, enterprises can extract valuable business insights while minimizing the risk of overlooking sensitive information. This proactive approach to data management mitigates potential risks and sets the stage for innovation, agility, and competitive advantage in today’s dynamic business landscape.

Click here to read about A Four-Pronged Approach to Intelligent Data Management


That the contents of third-party articles/blogs published here on the website, and the interpretation of all information in the article/blogs such as data, maps, numbers, opinions etc. displayed in the article/blogs and views or the opinions expressed within the content are solely of the author's; and do not reflect the opinions and beliefs of NASSCOM or its affiliates in any manner. NASSCOM does not take any liability w.r.t. content in any manner and will not be liable in any manner whatsoever for any kind of liability arising out of any act, error or omission. The contents of third-party article/blogs published, are provided solely as convenience; and the presence of these articles/blogs should not, under any circumstances, be considered as an endorsement of the contents by NASSCOM in any manner; and if you chose to access these articles/blogs , you do so at your own risk.


© Copyright nasscom. All Rights Reserved.