Digital Transformation: Leveraging Data as a Fuel for Your Business

With the rise of AI and generative AI technologies, businesses now have incredible opportunities to harness and analyze massive amounts of data. But collecting data isn’t enough; it’s crucial to find actionable insights that can influence decisions and drive success. This is where digital transformation comes into play, enabling companies to turn their data into a powerful asset that sparks innovation and growth.

How Can Data Accessibility Impact Your Business?

According to Forbes, increasing data accessibility by just 10% can boost net income by $65 million for a typical Fortune 1000 company. Imagine what a business could achieve with 50% or even 80% more accessible data! Data empowers companies to make smarter business decisions, whether they are tackling real-time challenges or predicting future outcomes.

In this blog post, we’ll dive into the challenges posed by today’s ever-growing data landscape, explore big data management solutions, identify cost-effective strategies, and discuss how these elements can lead to a successful digital transformation for your organization. Ready to explore?

What’s Driving the Data Explosion?

Digital technology is generating more data than ever before. According to IDC, connected devices will number nearly 75 billion by 2025, generating an astounding 79.4 zettabytes of data, primarily from video and security surveillance. Now, more than ever, it is important to find a solution to store vast quantities of data, including archiving and managing them for the short- and long-term.

As an AWS Advanced Services Partner, Mindex has extensive experience helping organizations collect, process, store, and analyze big data. We leverage tools like Amazon S3 data lake, AWS Lambda, AWS Glue, AWS QuickSight, and AWS Redshift to provide tailored solutions.

Our Mindex cloud architects live and breathe big data. We are continually helping businesses manage and find data solutions to grow their business. For instance, we recently partnered with a large Global Diagnostic Solutions company to transition their application stack to an AWS serverless architecture. By replacing their Microsoft SQL Server database with an Amazon S3 data lake, they achieved infinite scalability at a fraction of the cost. We also integrated real-time reporting tools to give them valuable insights into their operations.

How Does Cloud Technology Reduce Costs?

The cloud has revolutionized data storage and analysis. With pay-as-you-go pricing, businesses can access the resources they need without investing heavily in hardware or software. This flexibility allows for easy scaling of data management efforts.

Additionally, cloud storage offers scalable platforms that not only provide insights but also deliver more trusted and secure storage than traditional on-premise solutions. 

For more information on how you can optimize your storage costs, read our customer case study on how we migrated Alterna Capital Solutions' critical operational system that processes and supports its factoring offerings to a self-hosted, managed cloud via AWS.

How Can You Make Data-Driven Decisions?

Digital transformation is more than just about collecting and storing data; it’s about using data to define business objectives, develop strategies, and implement transformational initiatives.

Businesses today want their teams to have the ability to access data collaboratively for a variety of uses ranging from business reporting to ad-hoc analytics - to deep insights drawn from machine learning. They want the flexibility to self-onboard and share data, make data available for analytics in real time, be able to search and analyze data at massive scale, and do so in a manner that adheres to security and compliance requirements. Technology, processes, and people are required for this to occur. With the right tools and strategies, businesses can use data to drive innovation and growth. 

Is It Time for Your Business to Embark on Digital Transformation?

The cloud expertise of our team is driven by a digital transformation mindset, and we can provide you with a quality solution tailored specifically to your data needs. We are ready to transform your business - contact us today to learn more.