Data Virtualization-as-a-Service Part 2: Business Takes Control of its Data
These expert insights are a part of Solutions Review’s Thought Leaders, the resource hub of thought leadership content from InsightJam.com.
The second force transforming data virtualization is the evolving business/IT dynamic where business takes control of their data, with IT providing enablement and support. You can see this shift happening in three ways.
Accelerated Timelines
The first way is in accelerated timelines. Simply put, businesses are no longer willing to wait while long IT SDLCs (software development lifecycle) deliver the integrated data they need. Instead, rapid response is the new baseline.
This trend is particularly true in 2023. According to IBM’s 5 Trends for 2023 report4, “Uncertainty is expected, and complexity is compounding. As threats materialize on multiple fronts, organizations must reduce the time from insight to action. Leaders need precise intelligence to dodge obstacles as they appear—and obstacles will be legion.”
Data on Demand
The second way business users take control of their data is by teaming with IT to enable data on demand. Let’s face it, business users want the data they want, whenever they want, and how they want it. And with the rise of citizen data analysts and citizen data engineers, the business knows what to do with the data once they get it.
A TDWI Q3 2022 Survey5 noted the importance of data democratization and increasing self-service functionality in an organization’s data modernization strategy. Nearly 75% of respondents said such efforts were Extremely or Very Important, with only 5% calling them unimportant.
Business Controls the Money
Funding is the third area where businesses have taken control of their data. According to Gartner6, 74% of technology purchases are funded at least partially by business units outside of IT, leaving only 26% of technology investments funded entirely by the IT organization.
And where is that money going? It is funding data investments that drive business insights.
In their 2022 CIO and Technology Executive Survey7, Gartner asked respondents which technology areas would receive the most significant amount of new or additional funding in 2022 compared with 2021. 51% selected business intelligence (BI) and data analytics.
