Data, Data everywhere – but how do we manage our most valuable asset?
According to analysts such as Gartner, some 50% of all data collected and stored is redundant to a company’s needs – what we refer to as ‘dark data’. Only 20% is mission critical.
Hitachi Vantara organised the first of a series of events dedicated to show our customers in Scotland how we can improve their data management systems’ in a more efficient way. This complimentary event was a great opportunity for our customers to access the latest Big Data information and services Hitachi Vantara can offer, in a pleasant and informal atmosphere. The dinner was a successful one, in terms of attendance and engaging conversations.
The event was hosted by Jonathan Preston, Office of the CTO at Hitachi Vantara, who discussed on powerful new emerging techniques such as Hitachi’s ‘Dark Data Assessment’, which provides much needed visibility, accessibility and efficiency improvements to the central task of data management. Jonathan Preston and Steve Lewis did a great job of setting the scene in terms of:
- The changing market and DX
90% of all data in the world was created in the last 24 months. Companies are making use of this data to create detailed customer profiles, understanding more about their go to market strategies, the market, the competition and with all of this comes a need to digitally transform. This means a significant change to information technology within the business and fairly quickly.
- The changing needs of clients such as Rabobank
During the evening, Jonathan highlighted our Rabobank (RegTech) use case to the participants that highlighted the discovery benefits and costs savings they could achieve by adopting our approach to Data Governance.
Due to digital transformation companies are focusing on 3 key areas:
- The products and services they offer the consumer
- The competition and how this changes due to changing their offerings
- The technology that underpins all of this
As well as this, regulatory compliance and governance is changing all the time. Within the coming 12-18 months there are compliance laws which dramatically change how data is stored, managed, deleted and governed. Regular auditing and scrutiny is making it harder for the business to evolve easily.
- What Hitachi Vantara has delivered to clients
The key is to understand what data they have, where its located and who has access to it. Great examples on these services, discussed at the dinner, are:
- How our business is changing
Our interactions with various business stakeholders e.g. Legal, Risk and Compliance & IT requires us to communicate at a different audience we are typically engaged with. We become a trusted advisor in these organisations and enable them to offer a variety of new services that helps with cost efficiencies and revenue savings.
- What we believe we can help with in their businesses
We can help them to better control and manage large volumes and provide structured access of unstructured communications data that reduces the burden of internal compliance risk and time.
The feedback and engagement during the dinner was very positive. The attendees were interested in cutting down the time to market, time to access data and how to manage it better in underpinning GDPR, and we are planning more events to address those topics and showcase our solutions. We are also currently working on a live opportunity with some clients to strip out legacy cost, identify what data is there, why, how long and accessed by whom. This will lead to the platform efficiency discussion framed by Jonathan Preston and into data analytics. Please stay tuned for more information.
Our intention is to build a community within the Scottish market and have this as the "Edinburgh Big Data dinner" on a regular basis, with the aim of seeing this grow from strength to strength.
If you’re interested in participating in future events like this, please contact Chris Provan for more information.