Holistic data strategy more critical during pandemic and beyond
The multicloud computing environment had already shown enterprises the need to have a cohesive data strategy to effectively manage information on different platforms. But the COVID-19 pandemic has made the urgency of data governance across multiple clouds even more pressing, as companies need quick and accurate information to make difficult decisions that the current chaotic environment requires.
Informatica LLC believes that holistic data governance will help companies navigate through this turmoil and beyond, according to Tracey Newell (pictured), president of Informatica.
“Making sure you have a holistic data strategy is more important now than ever before,” Newell said. “When I talk to clients,… they’re saying: ‘I’ve got to have a 360 degree view of my customers, my partners, my suppliers’ [and] CFOs want a 360 degree view of their supply chain so they can do better vendor management than ever before.”
Newell spoke with John Furrier, host of theCUBE, SiliconANGLE Media’s livestreaming studio, for a digital CUBE Conversation. They discussed how intelligent and automated data management is helping organizations during the pandemic, the biggest challenges customers face today, how Informatica aims to engage with businesses in this environment, and Informatica’s ongoing online event series CLAIREview. (* Disclosure below.)
Businesses can use data to reinvent themselves
As the pandemic hits the economy hard, enterprises are naturally more cautious about their investment decisions. But for many, investing in data governance is the right strategy to adapt their business to the new landscape and thrive after the COVID-19 pandemic passes, according to Newell.
“What I’m seeing with clients, just last week, a large airline … they invested heavily in data governance and data privacy because they know that it’s important to have an analytical and clear view to who are their customers and how do they make sure they protect the privacy of the customers while they build on their loyalty program,” Newell said.
Retailers trying to quickly build e-commerce websites to meet customer demand during the lockdown are also examples of businesses requiring an holistic data strategy, as information is the key to effective operations, she added.
“There’s other customers that know they do have to re-imagine, they have to re-plan, they have to reorganize coming out of this situation,” Newell explained. “Even though some of these clients have been hit pretty hard economically, they’re all saying data is the most important thing to make sure that they make the right decisions and the right calls.”
Automation and artificial intelligence are the critical tools for businesses to have a data-driven strategy, according to Newell.
“Chief financial officers are getting tired of two reports showing up on their desk to answer one question, and the reports say something else. Which one do you believe?” Newell asked. “You’ve got to have a trusted and really strong analytical approach to making the decisions that clients are going to be forced to make coming out of this situation, and the data’s integrity has never been more important.”
Watch the complete video interview below, and be sure to check out more of SiliconANGLE’s and theCUBE’s CUBE Conversations. (* Disclosure: Informatica LLC sponsored this segment of theCUBE. Neither Informatica nor other sponsors have editorial control over content on theCUBE or SiliconANGLE.)
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