The cloud represents a big opportunity for businesses looking for a faster, more agile data structure and bigger analytics abilities. The right data migration strategies and partnering with digital experts make the difference for success.
In recent years, the cloud has been elevated from a technology disruptor to a business disruptor. Companies are aware of the enormous potential of data migration solutions to transform their business and cut costs, and this is why so many are considering migrating to the cloud.
These stunning numbers prove the potential of cloud technology and its crucial role in a company’s digitalization and data modernization. But migration isn’t as easy as it might sound: McKinsey Global Survey on companies that have implemented digital transformation found that only 56% of respondents achieved the expected results, and only 12% sustained those results for over three years.
To be successful in cloud migration, executives need to take a more proactive, business-driven approach to technology. Here are some important aspects you should focus on before you start your migration efforts.
Align data migration strategies and business strategies
As Forbes pointed out, cloud and business strategies should be synonyms. In our current scenario, data analytics and monetization are gaining more and more relevance. AI services can perform advanced data analysis and provide companies with precious insights into their customers, the market, their supply chain, and much more. How does the cloud fit in this? Because it increases the scalability of data storage and makes data more accessible.
Technology can support your business in many challenges, but the two strategies must be aligned. It’s common to embark on cloud data migration just to find out after the process has started that some applications are too expensive or complicated to migrate. Cloud adoption can accelerate digital transformation, but it is important to remember that cloud environments are dramatically different from on-premises ones: executives and IT teams should carefully consider to avoid selecting the wrong ones or ignoring specific business needs.
Start your data cloud migration with clear goals in mind
A common mistake businesses make when implementing digital transformation is not setting clear goals. Before starting, identify the key areas of focus and understand your business’ priorities: are there any urgent problems that need to be solved? Is there room for optimization in your processes? Or maybe your data structure needs to be more agile, secure, or faster.
The key is to identify the specific value that will be most helpful to your business in achieving its goals, and from here, find the right applications. Selecting data migration tools according to your specific needs will result in a much more tailored data strategy with better chances of success.
When selecting goals, two aspects are particularly important:
- Be realistic
- Look at the long-term
McKinsey report tells us that most companies that have implemented digital transformation have dramatically lowered their expectations: 42% of the value is lost in the final phases of the transformation process. When setting goals, executives should be realistic to avoid disappointment, frustration and unreached KPIs.
Another important consideration is not focusing only on the short or medium term. Data migration is a huge process that is likely to happen only once, and therefore, you won’t have many opportunities to embark on it again in a couple of years. To be successful, organizations need to consider the bigger picture, especially long-term goals and potential challenges or substantial changes in the market or technology.
Why is it important to implement cloud migration?
Implementing transformation that achieves goals is challenging, and sustaining these goals in the medium-long term is even harder. With only 1 in 8 businesses able to maintain performance goals for more than three years, it appears that digital transformation and cloud migration have a great risk of not being profitable. But the opportunities presented are huge and would give a company many competitive advantages, preparing it to be future-fit.
Accenture lists many potential benefits of switching to the cloud, among which the most important ones are:
- Increased agility and flexibility
- Ability to innovate faster
- Easing increasing resource demands
- Better managing of increased customer expectations
- Reduction in costs
- Deliver immediate business results
- Simplify IT
- Shift to everything-as-a-service
- Better consumption management
- Cloud scalability
- Improved performance
With so much at stake, it is clear that businesses should try to seize the opportunity offered by the cloud and embark on their digital transformation process. Partnering up with AI consulting companies like Tredence can guide your organization through all the steps of the process (Download Data Migration eBook to learn how to accelerate migration by 50%). Our digital understanding, experience, and the best data migration tools and AI services have allowed us to successfully lead companies toward cloud migration.