Bangalore, India, November 29, 2018
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) and Snowflake Computing, today announced the results of a Harvard Business Review Analytic Services study: ‘An Inflection Point for the Data-Driven Enterprise’. The study reveals significant gaps between what enterprises want to implement and what they have actually accomplished with modern data sharing and advanced analytics.
Only 5 percent of survey respondents believe that their organizations are very effective at implementing modern data sharing, while 67 percent want to move towards that approach. With modern data sharing, data doesn’t physically move. Instead, data is shared in a secure and governed way in real time by easily creating access to read-only copies of the data between any combination of organizations consisting of ‘data providers’ and ‘data consumers’. This creates unlimited opportunities for organizations to integrate shared data with their own data, for the deepest insights possible, previously unavailable to them.
The organizations that use traditional methods endure high costs, lengthy delays and avoidable risks only to share static copies of stale data. This limits how and with whom they can share data:
- 29 percent share data within functional groups or business units
- 21 percent share across business units within an organization
- 15 percent share data externally with key vendors/suppliers
- 14 percent share externally with partners outside their industry
Pallab Deb, Vice President & Head - Data, Analytics & AI, Wipro Limited said, “In today’s digital age, organizations are leveraging data from customers, partners and third party sources to build competitive advantage. A matured data-sharing model which is faster, seamless and secure is key in achieving better customer insights, faster decision making and streamlining of operations. This will help organizations leverage insights effectively and make it intrinsic to their organizational strategy.”
“While all the industries surveyed could profit from advanced data analytics, retail/CPG stands out as an industry that could reap huge benefits by implementing modern data sharing,” said Bob Muglia, Snowflake CEO. “Iconic brick and mortar brands such as Radio Shack and Toys ‘R’ Us have stumbled, but I am confident that other retailers can emerge successful by modernizing their data analytics with the most advanced technologies, such as the cloud-built data warehouse and modern data sharing to become more agile, innovative and customer-centric.”
Harvard Business Review Analytic Services surveyed 729 global business leaders across industries for the report, which was jointly commissioned by Snowflake Computing, the only data warehouse built for the cloud, Wipro Limited, a leading global information technology, consulting and business process services company, and MicroStrategy, a worldwide leader in enterprise analytics and mobility software. Industries surveyed were across sectors such as financial services, healthcare, manufacturing, retail/CPG, and technology. The survey found that, across categories, only a 5% of enterprises were truly data-driven. Additionally, in a sign that does not bode well for the start of the holiday season, retail/CPG had the lowest overall score for Digital Data Analytics Maturity.
A total of 729 respondents drawn from the HBR audience of readers (magazine/newsletter readers, customers, HBR.org users) completed the survey. The profile of the respondents included senior management, board members and middle managers from large companies primarily based in North and South America, Asia Pacific, Europe, Africa and Middle East. The key industry sectors included financial services, healthcare, technology, manufacturing, retail and consumer goods.
About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading global information technology, consulting and business process services company. We harness the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help our clients adapt to the digital world and make them successful. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, we have over 175,000 dedicated employees serving clients across six continents. Together, we discover ideas and connect the dots to build a better and a bold new future.
About Snowflake Computing
Snowflake is the only data warehouse built for the cloud, enabling the data-driven enterprise with instant elasticity, secure data sharing and per-second pricing, across multiple clouds. Snowflake combines the power of data warehousing, the flexibility of big data platforms and the elasticity of the cloud at a fraction of the cost of traditional solutions. Snowflake: Your data, no limits. Find out more at snowflake.com.
Forward-looking and Cautionary Statements
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property, and general economic conditions affecting our business and industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.