Oct 21, 2019 | DENVER, Colorado

New examine reveals 94% of survey respondents are dealing with disruption and underneath strain to rethink strategy to maintain tempo

DENVER – Oct. 21, 2019 – Throughout industries, markets and geographies, companies are dealing with a brand new actuality by way of remaining aggressive in at the moment’s hyper-digitized world. These new imperatives — pushed by quickly evolving applied sciences, new entrants into the market and ever-changing buyer calls for — require motion from enterprises to make sure survival. A brand new survey performed in September 2019 by Vanson Bourne, and sponsored by Teradata (NYSE: TDC), referred to as “Adapt or Perish: The New Actuality in a Hyper-Digitized World,” captures the 5 forces impacting enterprise success on this new international paradigm: Hyper Disruption, Pervasive Digitization, Autonomous Motion, The Cloud Crucial and Enterprise Consumerization.

 

“From new rivals, new enterprise fashions, altering buyer expectations and speedy know-how developments – the tempo of change throughout the international market is breathtaking,” mentioned Martyn Etherington, Chief Advertising and marketing Officer at Teradata. “Acknowledging these adjustments and taking motion to adapt and capitalize on them is essential to enterprise success. At Teradata, we’re enabling this sort of enterprise agility for our clients on daily basis, giving them unprecedented insights into all features of their enterprise – throughout departments and analytic silos – to allow them to transfer quick and keep forward of the competitors.”

 
Survey Overview

 
Hyper Disruption: Immediately’s enterprises are dealing with hyper disruption – from each exterior and inside forces – throughout all industries and at an unprecedented scale.

 

• Almost all (94%) respondents throughout the U.S., EMEA, Japan and China are dealing with disruption of their industries and are underneath strain to rethink approaches and processes to maintain tempo with present market forces.
• High sources of disruption embrace:
  • Maintaining with superior buyer calls for and dynamics (87%);
  • Workforce pressures, e.g., abilities gaps, retention, and so forth. (85%); and
  • Adapting to new enterprise fashions being launched by rivals and startups (74%).

• Most of those corporations (61%) really feel underprepared to strategically tackle market disruption pushed by rivals.

 
Pervasive Digitization: Most enterprise leaders consider digitization may help tackle rising buyer expectations for speedy and personalised engagement, and are starting this course of by refining enterprise operations. Whereas virtually all survey respondents are within the technique of digital transformation, some are additional alongside than others.

 

• 99% of respondents are within the technique of both transferring to a digital enterprise or leveraging/ piloting digital applied sciences to alter enterprise fashions.
• Greater than 4 in 10 respondents (41%) indicated that digitization efforts had been widespread, however virtually as many (40%) indicated that digitization solely existed throughout sure features of the enterprise.
• Simply 10% confirmed they’d totally realized widespread digital transformation.
• Almost half (45%) of respondents consider their enterprise requires enchancment of their strategy to managing knowledge accessibility, which can embrace breaking down the various knowledge silos of their group, a essential requirement to changing into a digitally pervasive enterprise.

 
Autonomous Motion: Adequately navigating the huge quantity of knowledge at our fingertips and leveraging that knowledge to search out solutions to the hardest enterprise challenges stays the aim for many organizations on the street to pervasive digitization. For a lot of, this requires leveraging synthetic intelligence (AI), machine studying (ML) and an autonomous platform. AI specifically has the potential to be widespread and to take a lofty position in the way forward for digital transformation.

 

• Almost 60% of respondents who’ve a minimum of restricted digitization throughout their group, agreed their digitization efforts had been carried out with AI in thoughts.
• 68% of responding companies confirmed that AI or ML had been at present being leveraged in some areas of the enterprise, with roughly one in three confirming pilots had been already in progress.

 
The Cloud Crucial: For AI to be really realized, a powerful cloud analytics infrastructure have to be in place to permit AI to function at scale. Whereas survey knowledge exhibits the cloud’s promise and position in driving knowledge analytics, the business has but to achieve essential mass in its adoption of cloud analytics.

 

• Of the respondents whose organizations have knowledge analytic workloads within the cloud, 64% want to AI as enjoying a significant position of their total cloud analytics technique within the subsequent 12 months.
• Regardless of this enthusiasm, 61% of organizations confirmed that fifty% or much less of their knowledge analytics purposes and workloads at present exist within the cloud.
• Much more (69%) respondents who’ve knowledge analytic workloads within the cloud, had been involved that their cloud analytics technique nonetheless lagged behind different cloud initiatives.

 
Enterprise Consumerization: Among the many many advantages of the cloud is its means to offer companies with better simplicity and ease of use, a key driver behind its enterprise adoption. The truth is, extra enterprises than ever earlier than are citing operational complexity as a difficulty and are turning to know-how that has roots within the shopper world to simplify, turn into extra agile and take friction out of enterprise processes.

 

• Almost six in 10 respondents (59%) agree that one of many extra urgent points they face is reworking enterprise operations to be extra agile.
• 74% of organizations additionally acknowledged an pressing want for better simplification and improved operations.

 

For extra info on the “Adapt or Perish: The New Actuality in a Hyper-Digitized World” survey, go see the Infographic on Teradata.com.

 
Methodology

In September 2019, Teradata commissioned unbiased market analysis firm Vanson Bourne to conduct a quantitative analysis examine of IT and enterprise resolution makers throughout U.S., UK, France, Germany, China and Japan. Respondents had been from organizations with 1,000 workers or extra, and with a worldwide annual income of greater than $250 million. The organizations could possibly be from a wide range of personal or public sectors together with monetary companies and IT, know-how and telecoms. Interviews had been performed on-line utilizing a rigorous multi-level screening course of to make sure that solely appropriate candidates got the chance to take part.

 
About Vanson Bourne

Vanson Bourne is an unbiased specialist in market analysis for the know-how sector. Their popularity for strong and credible research-based evaluation, is based upon rigorous analysis rules and their means to hunt the opinions of senior resolution makers throughout technical and enterprise capabilities, in all enterprise sectors and all main markets. For extra info, go to www.vansonbourne.com