While everyone had their heads turned to the cloud, the digital era was being built on a foundation of data. But what if that foundation is unsound?
The industry accepts that centralized architecture is the way to go, proprietary solutions are more performant than open source, and the modern data stack is, well, modern. These are axioms that form the basis of how companies choose data solutions and build data platforms. But are they really true?
On Sept. 1, theCUBE, SiliconANGLE Media’s livestreaming studio, hosts an event that could expose some major misconceptions in how organizations see data. During “The Data Doesn’t Lie … Or Does It?” event, industry experts Justin Borgman, chairman and chief executive officer of Starburst Data Inc.; Richard Jarvis, chief technology officer of EMIS Group; and Teresa Tung, cloud-first chief technologist at Accenture PLC, will join theCUBE industry analyst Dave Vellante to discuss and dispel three common “data myths.” (* Disclosure below.)
Data delusions block the path to data monetization
Becoming data-driven is a top business intelligence trend for companies, according to the “Top Business Intelligence Trends 2022” report. It’s easy to see why. Data-driven companies are 58% more likely to outperform their non-data-focused rivals, according to a report by Forrester Research Inc., and a study by the University of Texas found that just a 10% increase in data usability would translate to $2.87 million in additional annual income for the average Fortune 1000 company.
“There’s a need to change,” said Tung in a recent conversation with theCUBE. “Data is really the heart of the company. That’s how you unlock your technical debt into technical wealth.”
Despite the well-documented benefits, companies are struggling to maintain control over their data. For most organizations, balancing data access with security is like riding a teeter-totter with a cybercriminal sitting on the other side. Data sprawl has grown in complexity, pipeline delays persist, and the increased use of machine learning and artificial intelligence is applying pressure to already-challenged data platforms. In an effort to spread the load, 43% of organizations currently use between four and six data platforms and 11% employ 10-12, according to the “2022 State of Data and What’s Next” report.
The amount and importance of data is only going to increase. Today, data is more than a resource from which a company can gain insights to drive customer engagement and streamline operations. Data projects are becoming data products that can directly create revenue for companies.
“Organizations have clear demands for faster and more secure data access, but traditional approaches amidst increasing ecosystem complexity are holding teams back,” Borgman recently said.
Starburst believes that data fabric is the solution companies need to be able to take advantage of the move to data productization. The company’s open-source Trino solution, formerly PrestoSQL, breaks down data silos and provides secure and fast access to data. The recent acquisition of data lake analytics accelerator Varada Ltd. has decreased Trino’s data lake query response times even more and can cut cloud compute costs by up to 40%, according to Starburst.
Dispelling the age-old conventions around data is necessary to take advantage of the real power that data offers in a digital economy. Join theCUBE on Sept. 1 to find out more.
TheCUBE event livestream
How to watch theCUBE interviews
We offer you various ways to watch theCUBE’s coverage of the “The Data Doesn’t Lie … Or Does It?” event, including theCUBE’s dedicated website and YouTube channel. You can also get all the coverage from this year’s events on SiliconANGLE.
TheCUBE Insights podcast
During the “The Data Doesn’t Lie … Or Does It?” event, theCUBE analysts will talk with Justin Borgman, chairman and chief executive officer of Starburst Data; Richard Jarvis, chief technology officer of EMIS Group; and Theresa Tung, cloud-first chief technologist at Accenture PLC.
(* Disclosure: TheCUBE is a paid media partner for the “The Data Doesn’t Lie … Or Does It?” event. Neither Starburst Data Inc., the sponsor for theCUBE’s event coverage, nor other sponsors have editorial control over content on theCUBE or SiliconANGLE.)
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