Today’s data driven world has given rise to a new role, CDO>
The Economic Times – India
According to the IDC white paper, Data Age 2025, sponsored by Seagate, by 2025, embedded data will constitute nearly 20% of all data created â three quarters the size of productivity data and closing fast. What irreversible changes will this bring for an enterprise? Not being equipped to distinguish what is important and meaningful data for the company to analyse and or store can radically reduce the business productivity and increase cost. Businesses should ask themselves whether they are collecting the quality data, and are they able to make it meaningful in their organisations. Another critical question they need to ask is whether they have the infrastructure to support the effort over the long term. Companies need to figure out the balance of software, hardware, facilities and manpower investments to cater to the huge amount of data flowing into the organisation now and in future. By 2025, 75% of the worldâs population will be connected to the network, increasing the amount of embedded, real-time data transactions. Enterprises have already been working towards this, but thereâs more to be done given the amount and speed of such data growth. The increase in data analytics and real time requirements will create a new wave of computing model – Edge Computing. This is about having an enterprise class compute solution performing data processing and decision-making near the source of the data in real-time, at the edge of the network. With the above context, how do you see the need emerging for a data champion within enterprises, a CDO. What should his role entail? Todayâs data-driven world has given rise to a new and evolving role, CDO. The CDO is a central corporate gatekeeper, enterprise data strategist, and leader of digital transformation. Data is now an important aspect of any business, just like systems or data centres have been for so long. So, while CTOs and CIOs are well versed in managing the systems, a Chief Data Officer (CDO) is required to work with them to make sure businesses manage these large amounts of data in smart ways that benefit both businesses and their customers. The need for a CDO becomes clearer if you consider the fact that a lot of the data created today is something we canât even predict right now. A CDO can guide an organisation in harnessing the value of data and help deal with future challenges in security, production and also monetizing it. With improved network and IP connectivity over time, there is less need for data to be stored locally on PCs and other mobile devices. How is this trend impacting the evaluation of platforms that generate and ultimately store data in enterprises? While not all the data that is collected from users and devices will need to be analyzed, data-center builders and cloud service providers should look at what new and creative storage solutions are required by businesses and governments in order to address concerns of cost, storage locality, and security. Increasingly, data usage is being analysed by its level of criticality as indicated by factors such as the need for real-time processing and low latency, the ad hoc nature of usage, and the severity of consequences should the data become unavailable. What does this shift entail for businesses as they endeavor to deliver data and services to their customers in real time? Regardless of where the data is created, enterprises must face the challenge of managing more than 97% of the global datasphere and data security will be the top priority of such challenge. Surprisingly, while the vast majority of data requires at least some form of protection, the actual amount of data protection available falls far short of that. The IDC report states, by 2025, almost 90% of data created in the global datasphere will need to be secured, but only about half of it will actually be secured. Your report estimates that by 2025, two-thirds of global financial firms will integrate cognitive data from third parties. What benefits would the application of such cognitive systems deliver to businesses? Analysing and learning from this data can be critical to businesses, earning or losing them millions of dollars. This is where cognitive systems come in, which can not only analyse data in real time but also learn from it automatically. Cognitive systems can also be used for email threading, for analysing digital communications for compliance purposes. In many cases, this can save businesses millions of dollars. All this data from new sources open up new vulnerabilities to private and sensitive information. What impact will this have on an enterpriseâs threat perception and its information security stance? The gap between data creation and security is real and itâs expanding as more data is produced, especially from embedded sources. IT and security professionals must continually deploy methods that push employees to follow best practices, while also emphasizing the need for security continuously. Itâs not enough to secure your servers alone, in a connected world data security has as much to do with servers as with endpoints that create the data. What does the future hold in terms of data storage and management? To stay ahead of the challenges posed by societyâs ever-growing demand for and creation of data and storage, Seagate has been constantly been investing in innovating the future of hard drive technology. Itâs clear that the way forward is with HAMR (Heat-Assisted Magnetic Recording) â currently the only technology being researched and tested to provide the necessary advancement in areal density. This technology provides two key benefits: – In terms of capacity, you get the best cost-per-TB with HAMR; – In terms of performance, pairing HAMR with SMR (Shingled Magnetic Recording), TDMR (Two-Dimensional Magnetic Recording), and MAT (Multi-Actuator Technology) gains you the ability to rapidly access that massive data capacity. Q&A with BS Teh, Senior Vice President, Global Sales, Marketing & Sales Operation, Seagate Technology
Link: https://cio.economictimes.indiatimes.com/news/corporate-news/todays-data-driven-world-has-given-rise-to-a-new-role-cdo/63264806