Data Management Glossary
A digital business is one that uses technology as an advantage in its internal and external operations.
Information technology has changed the infrastructure and operation of businesses from the time the Internet became widely available to businesses and individuals. This transformation has profoundly changed the way businesses conduct their day-to-day operations. This has maximized the benefits of data assets and technology-focused initiatives.
This digital transformation has had a profound impact on businesses; accelerating business activities and processes to fully leverage opportunities in a strategic way. A digital business takes advantage of this fully so to not be disrupted and to thrive in this era. C-Level staff needs to help their organizations seize opportunities while mitigating risks.
This technology mindset has become standard in even the most traditional of industries, making a digital business strategy imperative for storing and analyzing data to gain a competitive advantage over the competition. The introduction of cloud computing and SaaS delivery models means that internal processes can be easily managed through a wide choice of applications, giving organizations the flexibility to chose, and change software as the businesses grows and changes.
A digital business also has seen a shift in purchasing power; individual departments now push for the applications that will best suit their needs, rather than relying on IT to drive change.
The Komprise 2022 State of Unstructured Data Management Report found that data storage costs comprise over 30% of enterprise IT budgets. This is why the right unstructured data management strategy has become an essential component of a digital business strategy.