A New Way To Manage Data
While there are a lot of 'big box' consulting firms providing massive analytical tools and processes, there are few nimble firms that can provide a cost effective, competitive intelligence team that can assist in taking existing datasets and provide tools and expertise to demonstrate the ability to save operating costs while managing business risk.
A classic example of a cost saving strategy is the ability to mine power invoices using Power Automate tools, to review where high power costs are and allow a company to renegotiate rates in order to reduce costs. even further, save power during peak times or supplement power at peak times with alternative power sources such as wind turbines, solar, or Tesla power banks.
If you have an accounts payable department, you have data. Anything that is quantitative can be mined, summarized and reported on in order for a company to manage. This includes time, one of the most important items to manage.
Without data, managing your business is like driving in the dark without headlights, just hoping you are still on the road.
Cyber Security
One of the most challenging aspects of managing data is working with your Information Systems departments to ensure the data and applications are well protected against intrusion, hackers, and cyber warriors. While keeping the data secure, it becomes more challenging to access, transform, and present this data to other systems downstream. Most companies now have a combination of on premises systems along with applications and databases on various clouds including AWS and Azure. There are also many companies that host their applications on their own or third-party clouds. Keeping applications and data secure in all these environments will continue to be at the forfront in 2024.
Gartner Group - Top Strategic Technology Trends 2024
Gartner expects these 10 technology trends to act as force multipliers of digital business and innovation over the next three to five years.