In light of the many changes we’ve all faced throughout the last year, it’s become clear that people are highly adaptable creatures. As outlined in our previous blog, Adapt Today to Prepare for Tomorrow, in facing new challenges, individuals, communities, and businesses have all had to make changes to the way we connect, communicate, and operate. For many organizations, this has meant adopting a work-from-home structure. Moreover, such a big change can mean a shift in the collective mentality, and in culture, particularly towards an organization’s relationship with modern technology. It’s simple, really: once you’ve adapted your frame of mind, cultivating a positive, can-do attitude towards these unprecedented times, you next have to adopt technologies that will give you the actionable results you need to succeed.
Adapt is the theory, Adopt is the practice — and it all starts with leveraging data as you build your digital ecosystem.
The Basics | What is a Digital Ecosystem?
Your digital ecosystem is a collection of modern technologies that work together to help you:
- Adapt to new realities and economic fluctuations, quickly and effectively
- Make data-driven decisions for your organization to stay ahead of the curve
- Respond to changing markets
- Provide your team and clients with the tools they need to succeed in a digital environment
- Remain competitive, recover, and grow
What are these modern technologies?
There are four key pillars to consider when you build your digital ecosystem: 1) Data; 2) AI; 3) Cloud; and 4) Application Development (AppDev).
These four pillars do not only represent steps you can take to advance along the data maturity scale, the pillars in fact work in tandem, at any stage. For example, even if you are not yet at the AI stage, it’s important to think about what AI solutions you may be interested in down the road, so that data can be stored in a way that makes those solutions most accessible, when the time comes. Thinking ahead will not only allow you to build a robust digital ecosystem, but will ensure that you are adaptable and flexible in the future. Modernization is critical to future-proofing your organization, and data is key to modernization. If there is one thing to keep in mind as you build this ecosystem, it’s data, data, data.
How it Works | Data’s Role in Your Digital Ecosystem
Let’s face it: “Uncertainty,” has been the word of the year, and we’re all looking for ways to overcome the hurdles that uncertainty presents. While none of us can know the future, we can be better prepared for it by leveraging data. With the right roadmap in place, your data will allow you to gain meaningful insights into upcoming trends and dips, develop predictive models to forecast likely outcomes, and build what-if simulators so you will be ready for a number of potential scenarios.
It’s becoming increasingly clear that, in this new digital environment, you need a viable, data-driven ecosystem for recovery, and for growth. This is true whether you’re looking to invest in new business applications for the modern workplace, or AI-powered solutions for optimized operations. So, how do you get there?
No matter where you are on the data maturity scale, it’s important to recognize that data is not simply one step along your roadmap; rather, becoming data-driven means understanding the significance and advantages of weaving data throughout everything you do. It is the foundation of your digital ecosystem.
Take cloud solutions as an example. At this point in time, it’s fair to say that most organizations have adopted cloud technologies, to some degree. Just a couple of years ago, lifting to the cloud, or the lift-and-shift approach, was seen as a first-step towards data modernization. Nowadays though, it’s more about modernizing data to ensure that you are actually leveraging all the benefits of the cloud. In thinking less in linear terms and more in terms of how everything works together, businesses are able to be more data-driven in approach, making them all the more future-proofed. Ultimately, a well thought out digital ecosystem is one that understands how data touches every part of it.
A Few Ways Your Digital Ecosystem Relies on Data
- Advanced Data Analytics provide a foundation for all AI solutions, from automation to predictive models
- A Cloud-Based, Modern Data Platform provides an end-to-end solution for turning data into actionable insights, while also leveraging cloud benefits such as: decreased operational costs, increased revenue, and faster times to market
- AppDev, and particularly App Modernization, can help make existing data that is hiding within legacy systems more accessible, providing more opportunity for deeper insights
In this new reality, Adopting means more than lifting to the cloud or subscribing to various digital tools. It means modernizing with a data-driven approach to your digital ecosystem.
Why it Matters | Real-World Results
Thinking big picture as you adopt new technologies will allow you to get the most out of your data, and your ecosystem. With this strong foundation in place, you will be positioned to not only recover, but to grow. This is made evident in one Forrester-conducted study
that looked at the total economic impact of moving to modern data-driven services. In this case, organizations across five industries (professional services, financial services, retail, manufacturing, and transportation) reported outcomes after switching to Microsoft’s Azure Analytics and Power BI offerings.
Prior to modernizing their services, the surveyed organizations faced the following key challenges:
- Inability to provide users with the information they required to be successful in their jobs
- Existing infrastructure was too costly to maintain and expand
- Existing solutions could not be upgraded quickly or easily to handle increasing workloads
The list of challenges above suggest that traditional solutions prohibit growth. However, adopting modern technologies for better data analytics not only built the organizations a better digital ecosystem, but positioned them for future growth.
After modernizing their services, the surveyed organizations reported the following key results:
- Better and faster analytics, which improved business outcomes
- Increased per-dollar performance
- Accessible insights, which empowered users, increased creativity and agility, and removed IT bottlenecks
- Better and faster analyses and decision-making
Quantified benefits of the modernization:
- Decrease in costs, averaging a 21.9% reduction
- Lower total cost of ownership (TCO), by an average of 25.7% reduction
- Increased productivity, with better efficiency due to time savings, which averaged 1.73 hours saved per week
Looking to the future will help you better leverage your data and strengthen your ecosystem, but having the right tech advisors behind you is just as important.
In Action | Modernizing an Ecosystem with HeroPath
Throughout our 20+ years, Lixar has worked with countless clients looking to modernize their digital ecosystems — from cloud migrations and app modernizations, to building data and AI solutions. With the universal shift towards advanced analytics and innovation, data has become integral to our practice. Based on our extensive experience guiding organizations through their data journeys, we built our award-winning, modern data platform, HeroPath, to be a flexible and scalable, end-to-end solution, fueled by best in class, customizable components such as Azure Synapse, Databricks, and Power BI. Our unique approach ensures that we understand your goals and help you achieve them by: 1) ingesting the right data; 2) transforming it using the right components, and 3) allowing you to engage with it through interactive visualizations. Moreover, our accelerated infrastructure means your pipeline can be ready in a day, rather than weeks or months.
For one Canadian Energy company, our HeroPath implementation took them from relying on a third party to perform time consuming, manual analytics, provided only once a day, thereby inhibiting the client’s ability to make informed decisions in a timely manner, to near real-time analytics. As a result, the organization was able to better leverage data within their ecosystem, to:
- Make data-driven decisions on the fly, receiving near real-time analytics, 72 times more frequently
- Decrease downtime by leveraging more meaningful insights
- Increase productivity through asset optimization
To learn more about the ways in which adopting modern, data-driven technologies helped this client solve various business challenges, and achieve better business outcomes for growth, read the full story here.
Adopting the right technologies is a key ingredient in growth. As we all continue to navigate unprecedented circumstances, modernization has become inevitable if we are going to be prepared for the future. Data — when leveraged correctly — will get us there. Having a strong data foundation is becoming increasingly necessary as we face new challenges, new demands, and new expectations. Gain better insights today to drive productivity, creativity, innovation, and growth, tomorrow.
Ready to start the conversation? We’re here to help. Reach out to our data experts today to learn how we can help you build the future-proofed digital ecosystem you need.
For more about HeroPath and its success stories, check out our HeroPath service page.
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