Paradigm Blog Posts

In today’s digital age, data is one of the most valuable resources available to businesses. With that said, it is not enough to simply collect data, business must be able to analyze and make sense of it to use it effectively and confidently. One approach to data analysis that has gained popularity in recent years is the 360-degree view of data. This method, or concept, involves gathering data from all available sources, structured and non-, and being able to analyze it as needed.

According to Gartner, 60% of organizations that have adopted a cloud-first strategy will replace it with a cloud-smart strategy by 2023. What’s more, by 2022, more than 75% of enterprise-generated data will be created and processed outside of traditional data centers, and more than 50% of that data will be created and processed by edge devices. They also predict the future of Cloud Computing in 2027 will not only be a technical approach for delivering applications but also serve as the key driver of business innovation.

While some trends come and go, the latest age of data has seen three consistent tendencies that inform how financial service organizations tackle digital transformation, outside of master data management.

The Davos World Economic Forum has kicked off for 2023. The key insight we took away? Katherine Garrett-Cox, CEO, GIB Asset Management with Gulf International Bank stated, “We must live in a world where mandatory reporting will become more relevant. It isn’t enough to be voluntary and hope no-one calls you out. Investors will look to the data because disclosure drives insight and insight drives action – and action is what investors want to see on the ground.”