Part 1 - The Problem
We are facing a new data economy and most organizations data architecture is a mess. Some better than others but if you have not built your IT architecture in the last 5 years, you are facing the same troubles every enterprise is facing now; the world is changing, and our economy is not a bilateral one any longer. Transactions don’t only happen between two parties involved and might include a whole ecosystem of non-trusting players to cooperate.
Digitization has made our world multidimensional and the requirements to serve your consumers better are changing.
MIT recently stated that any organization failing to “Cooperate” in our new data economy would measure less valuable and will fail. Cooperation includes data sharing as well of course, but real cooperation, requires a complete overhaul of how consumers data is used or stored.
It required a consumer/user centric data architecture rather than the application centric approach organizations take today.
However, the big buzz now is about cloud data migration and not data re-architecture.
Well, let's just get a bit realistic, only less than 4% of data that is in the possession of companies is currently moving to the cloud.
We at One Creation think that this is the right time to look at your data architecture. We will continue to explore this subject in our part 2 installment with more about how to best cooperate in the #NewDataEconomy (NDE)