Modernizing Legacy Systems: A Strategic Imperative for Today’s Enterprises
In today’s rapidly evolving digital landscape, the necessity for modern business intelligence (BI) systems is more pronounced than ever. The comprehensive survey conducted across multiple sectors, detailed in the report “Retiring Legacy and Modernizing Analytics Systems Among Enterprises,” underscores this urgent need and provides insightful revelations about the ongoing transitions within major enterprises.
Key Findings
The report reveals a strong consensus among enterprises on the benefits of migrating from legacy to modern BI systems, with significant emphasis on enhanced decision-making capabilities and improved operational efficiencies. A notable 82.8% of organizations recognize the urgent need to migrate due to the enhanced capabilities of modern systems that support real-time analysis and more dynamic reporting.
Migration Dynamics
Most enterprises prefer a phased approach to migration, highlighting a cautious but deliberate strategy to update their analytics infrastructure. This method allows organizations to maintain business continuity while adapting to new technologies gradually.
Cost and Productivity Benefits
The shift to modern BI systems is not just a technological upgrade but a cost-effective strategy. Enterprises report an average of 33% reduction in annual operational costs post-migration, combined with anticipated productivity improvements of 26-50% for most organizations.
Sector-Specific Trends
Different sectors exhibit varied preferences and challenges in migration. The BFSI sector, for example, shows a strong inclination towards maintaining stringent data security and compliance, influencing their migration strategies. In contrast, the Life Sciences sector leads in adopting modern analytics due to its high demand for managing extensive data volumes effectively and securely.
Recommendations
The survey results lead to several recommendations for the key vendors in the space. These include adopting a phased migration approach to minimize disruption, emphasizing the enhancement of decision-making capabilities through advanced data analytics, and focusing on long-term cost benefits to maximize return on investment.
Conclusion
The collaboration between AIM Research and USEReady sheds light on the fact that as businesses continue to navigate the complexities of digital transformation, the transition from legacy to modern BI systems represents a critical step towards achieving enhanced analytical capabilities and operational efficiency. This survey report not only highlights the imperative for change but also charts a roadmap for successful migration strategies tailored to sector-specific needs.
About USEReady (Research Sponsor)
USEReady is a leading Data, Analytics, and AI solutions firm that empowers businesses to transform their data into a competitive advantage. It provides businesses with the strategies, tools, capabilities, and capacity to democratize their data, making it accessible and actionable.
Our Augmented Analytics and AI offerings include MigratorIQ, STORM, and Pixel Perfect. These aid speedy modernization from legacy platforms – powered by expertise and frameworks, migration automation, and desired modern features/capabilities.
USEReady is New York-headquartered, and serves a diverse customer base, including Fortune 500, from its offices in the U.S., Canada, India, and Singapore, with a team of over 450 experts.
