Enterprises must completely rethink how they leverage information to create business value, as simply modifying existing IT assets is not sufficient.
This is according to Regina Casonato, Gartner's managing VP, speaking during a seminar themed “How big data and extreme information are transforming business and IT”, yesterday, in Johannesburg.
Casonato noted that most organisations have reached a point where information can be used to describe, manage and execute business processes as well as to audit their business, and it is no longer a competitive advantage or even a differentiation to do so.
“What we are ultimately suggesting is that organisations manage information as an asset and that IT has an opportunity to lead this effort. When information is managed as an asset, and made available as a service to processes and systems, it becomes possible to create entirely new revenue streams and business models,” she said.
Casonato pointed to Gartner's predictions that information volume in organisations will double every 12 to 18 months. “Determine a strategy now that links archiving and storage approaches to the multiple 'perish' dates on your information assets,” she advised.
Further, she noted that the challenge in managing data today is that it is not just about the volume (big data).
“In addition, velocity, variety and complexity must be considered. Also, the entire concept of the technology, information classification, linked data, shared data and even governance all come into play.”
According to Casonato, big data is the first taste of the extreme information challenges that will become increasingly difficult to address.
“Data volumes are so large that even as storage technology and network infrastructures increase in capacity, the data simply grows at a faster rate.”
In addition to volume, she explained, information assets will exhibit irregular rates of change; governance rules will become increasingly fluid; and new asset types will continue to emerge.
In the face of these challenges, she urged organisations to plan to use cloud storage to support a data retention structure.
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