Oct 21, 2019 | DENVER, Colorado

New examine reveals 94% of survey respondents are dealing with disruption and beneath stress to rethink method 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 as we speak’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 carried out 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 world paradigm: Hyper Disruption, Pervasive Digitization, Autonomous Motion, The Cloud Crucial and Enterprise Consumerization.

 

“From new opponents, new enterprise fashions, altering buyer expectations and fast expertise developments – the tempo of change inside the world market is breathtaking,” stated Martyn Etherington, Chief Advertising and marketing Officer at Teradata. “Acknowledging these adjustments and taking motion to adapt and capitalize on them is important to enterprise success. At Teradata, we’re enabling this type of enterprise agility for our prospects day by day, 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: In the present day’s enterprises are dealing with hyper disruption – from each exterior and inner 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 beneath stress to rethink approaches and processes to maintain tempo with present market forces.
• Prime sources of disruption embrace:

  • Maintaining with superior buyer calls for and dynamics (87%);
  • Workforce pressures, e.g., abilities gaps, retention, and so on. (85%); and
  • Adapting to new enterprise fashions being launched by opponents and startups (74%).

• Most of those firms (61%) really feel underprepared to strategically deal with market disruption pushed by opponents.

 

Pervasive Digitization: Most enterprise leaders consider digitization can assist deal with rising buyer expectations for fast and customized engagement, and are starting this course of by refining enterprise operations. Whereas virtually all survey respondents are within the strategy of digital transformation, some are additional alongside than others.

 

• 99% of respondents are within the strategy of both transferring to a digital enterprise or leveraging/ piloting digital applied sciences to vary 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 absolutely realized widespread digital transformation.
• Almost half (45%) of respondents consider their enterprise requires enchancment of their method to managing information accessibility, which can embrace breaking down the numerous information silos of their group, a important requirement to turning into a digitally pervasive enterprise.

 

Autonomous Motion: Adequately navigating the huge quantity of information at our fingertips and leveraging that information to search out solutions to the hardest enterprise challenges stays the aim for many organizations on the highway 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 at the least restricted digitization throughout their group, agreed their digitization efforts had been finished with AI in thoughts.
• 68% of responding companies confirmed that AI or ML had been presently 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 information exhibits the cloud’s promise and position in driving information analytics, the trade has but to achieve important mass in its adoption of cloud analytics.

 

• Of the respondents whose organizations have information analytic workloads within the cloud, 64% need to AI as enjoying a significant position of their total cloud analytics technique within the subsequent yr.
• Regardless of this enthusiasm, 61% of organizations confirmed that fifty% or much less of their information analytics purposes and workloads presently exist within the cloud.
• Much more (69%) respondents who’ve information 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 skill to offer companies with better simplicity and ease of use, a key driver behind its enterprise adoption. Actually, extra enterprises than ever earlier than are citing operational complexity as a difficulty and are turning to expertise that has roots within the client world to simplify, grow to be 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 data 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 choice 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 providers and IT, expertise and telecoms. Interviews had been carried out 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 expertise sector. Their repute for strong and credible research-based evaluation, is based upon rigorous analysis ideas and their skill to hunt the opinions of senior choice makers throughout technical and enterprise features, in all enterprise sectors and all main markets. For extra data, go to www.vansonbourne.com