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Senior business executives from around the world consistently agree that digital transformation is one of the most essential components that will steer the success of their companies in the foreseeable future. In an ideal world, digital transformation presents indispensable opportunities for adding value to an organisation - removing business incompetencies, spurring innovation and disruption, improving consumer experience, empowering the workforce and generating substantial avenues for growth.
However, surveys have found that more than half of digital transformation initiatives do not achieve their intended goals - resulting in capital losses and decreasing overall business efficiencies. One key reason for failed implementation is the common misconception that digital transformation relates only to technological change. While technologies themselves are central to a business' shift to digitisation, leading executives also need to ensure there is an optimal mix of organisational structure and talent to truly transform business functionality to the digital realm.
The Digital Transformation Series will examine the many factors driving businesses to seek digital solutions for their organisations — from consumer behavior, shifting market conditions, evolving economies, regulatory laws and increased competition — to the technologies that will lead the digital charge in the coming decades, including 5G, cybersecurity, artificial intelligence, cloud computing and automation. The series will dive deep into exploring the future of digital transformation in business and the crucial steps that leading executives must learn in guiding the future development and implementation of these technologies.
Reshaping data governance and compliance to thrive in a new normal
How will AI and automation impact jobs of the future?
The past year has seen countless organisations investing in cloud technology and data warehouses in an effort to get the most out of their data in a scalable, flexible and efficient manner. Despite the increase in investment, however, overall information protection and data governance was a significant challenge for many companies in 2020. Whether it’s due to legacy systems, a lack of clearly defined data governance policies or poor data quality, many organisations lack the knowledge and infrastructure to meet the latest regulatory requirements. On top of that, many companies also struggle with getting the most out of their data pools, ultimately preventing them from reaching their highest potential in the new normal.
As data-driven organisations reassess their data management strategies in the face of an ever-evolving technology environment, what are the best practices in ensuring data is protected and governed, no matter where it lives? How can organisations identify and take action on critical insider risks with their data? How does seamless access to data help companies with obtaining valuable insights in order to make better business decisions? What role does data governance play in eliminating silos and enabling enterprise-wide data collaboration? And, what are the latest data compliance updates that firms need to be aware of, and how can they remain agile in reducing compliance risks?
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Microsoft (Nasdaq "MSFT" @microsoft) enables digital transformation for the era of an intelligent cloud and an intelligent edge. Its mission is to empower every person and every organisation on the planet to achieve more.
