A new report from technology research firm Info-Tech Research Group lays out a blueprint for IT leaders to harness exponential advancements in AI to gain a competitive edge in managing surging data. The blueprint, titled “Exponential IT for Data and Analytics,” arrives as organizations amass more first- and third-party data, while rapid innovation in analytics brings new obstacles around collecting, storing and making use of that data.
“The exponentially growing demand for data has increased the pressure on technology and data leaders to deliver processes, capabilities and technologies to service that demand,” said Steve Willis, a principal research director at Info-Tech Research Group. “However, with only one in ten data leaders considered genuine business value generators by business executives, most of these leaders will be required to develop new tactics to meet these expectations or risk being left behind.”
As AI powers more standardization in IT functionalities, the report notes that developing proprietary data products is becoming vital for companies to differentiate core offerings in crowded markets, as well as open up new revenue streams. Investing in data technologies that enable resilient, cost-efficient data pipelines and data buying/selling is now an “operational requirement rather than a mere advantage,” per the research.
Info-Tech advises organizations to treat data as an actual product, rather than just an enabler, by evolving data governance roles to boost influence and actively market data assets internally and externally. The firm also encourages technology leaders to blend external third-party data with internal data to create unique products and services.
“Organizations adopting modern data practices can expect to benefit from seamlessly acquiring third-party data via platform-enabled data marketplaces,” said Andy Neill, an associate vice president at Info-Tech. “By blending this external data with their proprietary internal data, they can create uniquely distinctive core products and services while unlocking entirely new revenue streams by leveraging these same marketplaces.”
As AI models grow more complex, Info-Tech further urges the alignment of DataOps and MLOps to ensure efficient end-to-end data and AI pipelines. With AI promising to touch most IT and product developments going forward, creating agile data and AI practices is described as “paramount.”
Overall, by taking the actions highlighted in Info-Tech’s blueprint, IT leaders have an opportunity to position their organizations to fully capitalize on an increasingly data-driven landscape. The research indicates that taking an exponential view of data — rather than a linear one — can drive innovation, competitive differentiation and revenue growth.
“By embracing the transformative actions outlined in the blueprint, IT leaders can propel their organizations into a future where data is not just a resource but a driving force for innovation, competitive advantage and sustainable growth,” the report concludes. “This forward-thinking approach will help position data leaders at the forefront of shaping a data-centric organizational culture, ready to capitalize on the opportunities of an exponentially data-driven world.”