Sep 29, 2021 | San Diego

Teradata examine reveals 9 out of 10 respondents look to modernizing cloud structure and enhancing knowledge capabilities as prime areas of investments

Organizations know that having the fitting IT in place and leveraging a cloud-first and data-centric mentality is important in as we speak’s digital financial system. Nevertheless, to advance their digital transformation initiatives and absolutely notice the probabilities that rising applied sciences — like AI, IoT and multi-cloud – supply, organizations should first reevaluate how they spend money on IT. 

A brand new analysis report, commissioned by Teradata (NYSE: TDC) and performed by unbiased analysis agency Vanson Bourne in August 2021, explores world sentiment round data-driven transformation investments this 12 months and past, and divulges the place organizations are putting their bets to set themselves up for achievement within the years to come back.

Market Volatility is Shifting 2022 IT Investments

Within the wake of the pandemic’s financial affect, 87% of corporations are reportedly rethinking IT investments for 2022 and past, primarily as a result of current, vital shifts in client spending and market uncertainty.

• 93% of respondents agreed that when re-evaluating their IT investments, modernizing cloud structure, enhancing knowledge administration and analytics have been among the many prime funding areas to speed up their digital transformation efforts.
• Though 50% of IT decision-makers reported that their organizations had no plans to extend knowledge governance investments at this stage, 89% felt their organizations ought to nonetheless prioritize knowledge governance/accountability initiatives extra.

Rising Tech is a World Precedence

Trying three years forward, IT decision-makers additionally recognized emergent applied sciences, similar to multi-cloud infrastructure, IoT, 5G, edge computing, AI, and knowledge analytics, as essential areas for elevated future spend. This was a globally held view, with IT leaders from the U.S., Europe, and the Asia Pacific Japan areas citing rising applied sciences as a prime funding precedence.

• 90% of respondents felt that emergent applied sciences, similar to automation, would have a transformational affect on their group within the subsequent three years.
• 3 out of 4 IT decision-makers additionally agreed that their group’s digital transformation efforts or lack thereof might be a roadblock to realizing the total advantages of key emergent applied sciences, similar to AI and machine studying. 

“As we speak, organizations perceive that they have to leverage key rising applied sciences similar to AI and multi-cloud infrastructure to keep up a aggressive benefit. In truth, 87% of IT decision-makers felt they might be liable to lagging behind the competitors in the event that they didn’t,” stated Steve McMillan, President and CEO of Teradata. “To understand their full potential, corporations should modernize their architectures to leverage the cloud and dial-up investments in different rising applied sciences initiatives, like attaining AI at scale or leveraging the clever edge. In doing so, they’ll mix new progressive sources of information with their very own to realize the mandatory insights to pivot on a dime and proceed to gas innovation at scale.”   

Lack of Cloud-Readiness Undermines Digital Transformation

As IT leaders transfer ahead with plans to pivot their digital innovation methods within the wake of the pandemic, additionally they grapple with how shortly they make their leap to the cloud. 

• For instance, 82% expressed considerations that not being cloud-ready might be a major barrier to accelerating their digital transformation efforts. 
• 85% of IT decision-makers additionally agreed that digital innovation methods and transformation efforts have been additional compounded by vital shifts in client buying behaviors, with verticals like Retail, Distribution, and Transport (87%) among the many most impacted. 

Methodology

In August 2021, Teradata commissioned unbiased market analysis firm Vanson Bourne to conduct a quantitative analysis examine of IT and enterprise decision-makers throughout the U.S., UK, France, Germany, China, Singapore, Japan, Australia, and India. Respondents have been from organizations with 1,000 workers or extra. The organizations might be from numerous personal or public sectors, together with Enterprise and Skilled Providers; Monetary Providers; IT, Tech, and Telecoms; Retail, Distribution, and Transport; Manufacturing, and different Industrial Sectors. Interviews have been performed on-line utilizing a rigorous multi-level screening course of to make sure that solely appropriate candidates participated.

About Vanson Bourne

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