Five Priorities For Businesses To Continue Thriving In 2017

rajesh

With 2017 already in full swing, the year provides a fresh start at resolutions that can help keep your business at the top of the pecking order even as disruption and transformation continues to be the order of the day. Here are five things businesses need to do to thrive in the current year.  

1. Build business intelligence for quick thinking

A big buzz has surrounded big data for a long time. Businesses struggle with making sense of ever-increasing volumes and varieties of data to provide clear, actionable business insights. Businesses must create an ecosystem of information and invest in a secure business data lake that is both real-time and predictive.

Data lakes combined with cloud analytics will allow businesses not just to store and retrieve data but to explore it in new ways using visualizations and predictive models to derive real business value. By leveraging real-time predictive insights, businesses would be able to save time and costs by anticipating business demands, concerns and issues ahead of time and being prepared in advance for them.

2. Improve business agility

Recent research by IDC assessed the region’s level of maturity and progress in their Digital Transformation (DX) initiatives, and found that 45 percent of businesses were only at the first stage of digital transformation. At this level, businesses provide only weak customer experiences and their transformation strategy is driven by threats. IT is not simply about underpinning business operations – it must become embedded in them to deliver the speed, efficiency and agility that will determine future success. The foundations of this transformation are built on a modern data centre and cloud strategy.

Hyper-converged infrastructure (HCI) effectively redesigns the data center to address the cost and complexity of legacy IT infrastructure, offering ease of use and lower costs for businesses by bringing together compute, storage, networking and virtualization into a single integrated appliance, managed by one toolset.    

thrive

3. Value inter-team collaboration

The DevOps (Development Operations) movement has really gained momentum in recent years, with more companies copping to the benefits of an approach that emphasizes close collaboration, continual feedback and rapid innovation. Bringing your software development and IT operations teams together ensures that tools are built with shorter developmental cycles, features are continually improved and delivered, with reduced deployment failures and improved recovery times. These not only create value for the end user but also results in a happier, more engaged and unified IT team that can help the business constantly adapt and stay ahead of the competition. 

4. Provide continual security  

With hacks and data breaches continuing to make headlines, businesses are cognizant that maintaining security is an ongoing endeavour as attacks become increasingly frequent and sophisticated. Compounded by an expanding network footprint in the form of personal devices, connected devices, virtualized workloads and greater use of applications (authorized or not) and online transactions, business leaders need to take charge of their company’s defences and see it as key to business strategy.

This means evaluating the company’s risk profile and identifying the most critical assets or processes so as to architect efforts to protect them. While safeguarding technological vulnerability is important, these efforts need to extend across the full value chain – whether it is in managing expectations with vendors, business partners or even considering security in customer interactions.     

5. Work smarter, not harder

 The IoT ecosystem is expanding, with more and more devices, equipment and machinery getting connected in a vast range of settings, whether it is in the home, on the factory floor or even on the roads. These connections have one common aim – to help us lead smarter, more improved lives by collecting data and translating it into insight with analytics.  

But value for businesses can only be derived when this insight is translated into action. Businesses can already make use of the data they collect to introduce efficiencies in their operations. Taking a longer term view, they should look for areas where IoT can help to aid decision-making and deliver innovation, whether it is in new products, services, enhanced customer experiences and new business models. 

[The author is President - Enterprise (India and SAARC), Dell EMC]

[Disclaimer: The views expressed in this article are solely those of the authors and do not necessarily represent or reflect the views of Trivone Media Network's or that of CXOToday's.]