09.12.2022 Executive Data Bytes – Innovate with cloud and reach business goals NOW

Executive Data Bytes

Tech analysis for the busy executive.

Welcome to another edition of Executive Data Bytes! This week, we are discussing the power of accelerating trusted cloud innovation.

Focus piece: “How the World’s Leading Brands are Accelerating Innovation with Hybrid Cloud”

Executive Summary

For businesses, the race towards accelerating innovation is (or should be) the highest priority. In this article, TechCrunch outlines the benefits and challenges of adopting cloud.

Key Takeaways

• Public cloud technology allows businesses to quickly test out new technologies, scale up or down as needed, and retain data in a specific geographical region for privacy and regulatory compliance.
• Without a data management strategy, companies end up with data silos, complex application architecture, and rigid data integration, which often results in weaker, more cumbersome hybrid cloud technology.
• Distributed databases can seamlessly accelerate the move towards hybrid cloud technology, allowing your application to span across private cloud, public cloud, or a combination thereof.

Focus piece: “When faced with transformation, how will cloud be your silver lining?”

Executive Summary

Recently, unexpected events have exposed significant structural weaknesses, which are amplified by global trade disputes, environmental disasters, and civil unrest. This EY article explains how cloud technology can enable organizations to transform quickly and reframe their future.

Key Takeaways

• Businesses should prioritize speed and resilience over cost optimization and monitor data in real-time to pre-empt adverse outcomes and gain significant competitive advantages.
• Cloud computing is foundational for companies that are ambitious about moving and transforming at speed, meeting elevated customer expectations, and future-proofing their business.
• The pandemic has shown the potential of cloud-based applications, with Microsoft users spending 30 billion minutes daily using the company's cloud applications.

Focus piece: “A new framing for cloud innovation”

Executive Summary

The future of cloud appears to demand a new approach that considers business, technical, and financial priorities together to gain greater value from cloud innovation strategies. Read on to explore four potential scenarios for the future of cloud innovation strategy in this article by Deloitte.

Key Takeaways

• Cloud technology can help organizations innovate across today's enabling, tomorrow's disruptive, and future next-horizon technologies. The CIO should guide organizations in their use of cloud technology to innovate and help them understand the business, technical, and risk sides of the innovation equation.
• There are four major innovation areas driving the business to the cloud: IT operations, data strategy, customer experience management, and distributed ecosystems. Each of these areas has corresponding technical requirements.
• Data is the backbone of strategic decision-making in a digital world. By leveraging cloud, organizations can gain meaningful business intelligence from secure data, whether consolidated or not and can create artificial intelligence (AI) - enabled, predictive business strategies with data security across a range of potential stakeholders.
• Cloud-captive strategies and automation can introduce cloud complexity that is beyond human capacity to manage. Strong, standards-aligned systems can help manage various cloud infrastructures uniformly and improve operations.
• Cloud technology is expected to be core to innovation plans for the next 5 - 10 years and will influence decisions made throughout the organization, including the C-suite.

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