Srikanth Doranadula, Senior Director and Head-Systems Business, Oracle India speaks about the evolving landscape of Data Management and how committed are organizations to safeguarding their data.
Data, and Data Management, have become extremely important today. Can you share some of the recent trends in this space in India?
Yes, data has pretty much become the new fuel for the digital economy. I’d go a step further and call it an economic factor of production, i.e. akin to a capital asset, provided it is leveraged optimally. At current pace, we’re collectively creating 2.5 quintillion bytes of data each day. And with the advent of emerging technologies, this will only grow further!
According to a study by Oracle on trends in Data Management, just 50% of organizations in APAC expressed confidence in their data mastery i.e. they’re able to effectively manage, secure and gain insights from data, and use it responsibly. There is a huge opportunity to empower the other 50% of organizations to improve their data management processes.
Do Indian businesses have enough trust in their data? What about their APAC peers?
Interestingly, Indian businesses expressed more confidence in their data management when compared to their APAC peers. When it comes to data security, organizations in India and Japan were the most confident at 80% and 63%, per the report. Organizations in China, Korea and Singapore are the least confident.
What emerged is that decision makers in India appear to be more capable of managing their data. There are ample opportunities for SMBs to extract meaningful insights out of their data, and larger organizations too, given their growing data sets.
Can you summarize the key findings of Oracle’s data mastery report?
Only 40% of business leaders said they are ‘highly confident’ in their organization’s data management and analytics abilities. This highlights the lack of a clear, holistic data strategy in most organizations. Further, who owns the responsibility of ‘data management’ appears to be sketchy, especially in large enterprises with numerous departments. In short, organizations are missing out on effective and secure data management practices, so this is an alarming scenario.
What’s your advice to organizations to enhance their data management capabilities?
For a business to be successful in the long run, it needs to cultivate a security-first mindset. Sound data management processes with strong but easy to implement protocols will help reduce uncertainty and make data management smoother and more effective. Ultimately, to succeed in the digital economy, you need to ensure responsible use as well as effective management of data.
Do you think Indian organizations are rightly equipped to tackle rising data security threats?
One of the biggest concerns, across organizations and industries, is data security. Per our report, only 58% decision makers agreed that data security was crucial to their organization’s growth and success. This is all the more vital, with business-critical workloads (encompassing sensitive data) increasingly moving to the cloud. Organizations should start with adopting an autonomous approach to IT, to future-proof their business.
What’s the latest from the Oracle Engineered Systems stable?
At Oracle OpenWorld San Francisco in September 2019, we announced Oracle Exadata Database Machine X8M, setting a new bar that changes the dynamics of the database infrastructure market. With Exadata X8M, customers will be able to perform existing tasks faster, accelerate time-to-insight and also unlock deeper and more frequent analyses.
How is Oracle reshaping the future of data management?
Oracle has a history of securely managing the bulk of the world’s mission-critical data for more than four decades. Our flagship innovation, the Oracle Autonomous Database – which is the world’s first and only self-driving, self-securing and self-repairing database – is a generational innovation that dramatically redefines the concept of data management. In fact, it is the most successful new product introduction in our forty year history. Early adopters have started to realize significant business benefits, including new growth avenues, improved productivity and operational efficiencies, enhanced customer service.