In recent years, executives' perceptions of the time required to achieve business value have fundamentally changed. The current business landscape is characterized by increasingly compressed timelines, growing complexity, and constantly evolving customer needs. To keep up with these dynamics and meet consumer expectations, digital technologies have become crucial for creating value.
Long-term research conducted by IDC sheds light on the significant shift in the utilization of digital technologies to generate value. Their findings reveal that 39% of businesses have embraced a digital-first approach, implementing digital technologies on a large scale. Data and intelligent analytics have become essential in navigating continuous disruptions and promptly making necessary adjustments.
The substantial growth in data volume is driving businesses to migrate to the cloud. In fact, according to IDC's 2022 Worldwide Industry CloudPath Survey, 36% of companies reported that their data had exceeded the capacity of their existing systems. This surge in data serves as a primary catalyst for the transition from legacy systems to Software as a Service (SaaS) solutions.
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