In 2021, businesses were seen focusing on semblance of normalcy and stability, with organisations across industries moving through the different stages of digital transformation with increased momentum. In 2022 and beyond, we expect to have organisations strategize and take action on their data to explore potential opportunities.
If last year was about stability and resilience, 2022 and the years ahead will focus on staying agile and acting on unexplored opportunities by leveraging on data insights. As we welcome the new year, it is important for organisations to be prepared in advance and tackle the aftermath of the pandemic with agility without compromising on the continuity of business operations. As organisations are already sitting on top of an enormous amount of data, if analysed strategically and actioned in real-time, data can help businesses strive through the coming times.
While big data has played a crucial role in enabling businesses to be more prepared, there is still scope to harness the true value of data to help scale business performances and generate revenue. A report by NASSCOM reveals that growing adoption of big data, analytics and artificial intelligence is expected to boost India’s cloud market to USD 7 billion by 2022.
Here are three key trends Indian businesses need to stay agile in 2022:
Data Security: Security was, and continues to be, one of the biggest data challenges. In 2021, cyberattacks increased significantly as cyber criminals capitalized from phishing, vishing, emails, and other scams that thrived well in remote and hybrid working models. This resulted in organisations increasing their focus on implementing end-point security and zero trust frameworks. The past two years has given organisations time to learn how to leverage the power of their own data to secure their business operations. In 2022, organisations will continue to fortify themselves against cyberthreats and stay committed to the zero trust model. An ideal Zero trust model will have a six-stage approach that should include – advanced detection with sophisticated detection mechanism, automation and orchestration, build intelligent source for security data, expanding to high fidelity data sources, adding a layer of security devices and collection of machine data.
Gaining Data Visibility: In the past two years, there has been rapid innovation and shift to the cloud. To gain the right insights and make calculated business decisions, organisations need to gain full visibility of their data across business functions and have a holistic view of what their data is revealing through observability. As India’s cloud ecosystem and cloud adoption continue to expand, by breaking down data silos and analyzing data output regardless of where it resides, observability can help tackle several business challenges and improve organization’s operational efficiency. With an ideal observability tool, organisations will be empowered with end-to-end visibility across highly complex application environments, enabling them to innovate fast, improve operations and enhance customer experiences. All done securely, and in compliance with regulations and privacy policies.
Urgency to Upskill: In a digital, hybrid working world, roles and processes are constantly evolving and requiring new skill sets.There is a growing sense of urgency for the global workforce to upskill in order to drive productivity, innovation, and growth. In 2022, organisations need to start anticipating the right skills required for the future. This includes establishing the cultural foundation and providing modern upskilling programs in order to stay agile and innovative in order to future proof their business. For instance, organisations can explore investing in solutions and programs that increase digital collaboration or explore learning and development programs that blend skill sets such as data science, automation and AI/ML competencies with traditional core skills, across IT and lines of businesses.
Tackling the disruptions due to the pandemic will continue in 2022. Global lockdowns have caused unexpected fluctuations in supply and demand across sectors and created overheated economies. Reports by analysts have shown that organisations are downgrading their growth outlooks. To remain resilient and stay agile, organisations need to prioritize learning how to turn their data into a strategic asset. In gist, data maturity is a business accelerator.
Moving away from just storing and managing data, the importance of having a data strategy that addresses data visibility, security and the right skill sets should not be underestimated given today’s unpredictable business climate.
The article has been written by Jyoti Prakash, Regional Sales Director, India & SAARC Countries, Plunk