Migrating #Data to more secure cloud systems for regulatory reporting and better insights is front of mind for many organisations, not to mention the search for more cost effective platforms.
Migrating or copying legacy data to the cloud presents several significant challenges for many. Here are some of the biggest issues that we are asked to assist with:
1. Data Security and Privacy
- Challenge: Ensuring the security and privacy of sensitive data during and after migration.
- Details: Legacy systems often lack modern security features, so correctly classifying and securing the data appropriately is a critical consideration.
2. Data Governance and Compliance
- Challenge: Maintaining compliance with regulatory requirements.
- Details: Different industries have specific regulations for data management.?You also need to classify what kinds of data you have and make it accessible in the right way to maximise the value of the data. See point 8.
- Challenge: Integrating legacy systems with modern cloud platforms.
- Details: Legacy systems may not be designed to work with cloud technologies, leading to potential data loss or corruption.?Dataflows are not always consistent so how do you monitor to ensure all the data arrived as expected?
4. Data Integrity and Quality
- Challenge: Ensuring data remains accurate and consistent.
- Details: Migrating large volumes of data can lead to integrity issues, such as data duplication or loss.?Rigorous validation and testing are necessary to maintain data quality. How do you do this without expending large amounts of time and resources?
- Challenge: Controlling the costs associated with migration.
- Details: Migrating legacy data can be expensive, involving costs for new infrastructure, data transfer, and potential downtime.?How do you build scalable repeatable models?
- Challenge: Lack of skilled personnel to manage the migration.
- Details: Migrating legacy data requires specialised knowledge and skills.?How do you access these in a cost-effective way, at the right times?
- Challenge: Minimizing downtime and disruption to business operations.
- Details: Data migration can disrupt normal business activities, how do you plan around this? Unexpected outages (system/network/updates etc) need to be worked around.?
8. Data Volume and Complexity
- Challenge: Handling large volumes of complex data.
- Details: On average, companies use less than half of their structured data for decision-making purposes.?Specifically, studies show that?less than 50%?of structured data is actively utilised.?When it comes to unstructured data, the usage is even lower, with?less than 1%?being analysed or used at all. How do you land it in a structured way to take advantage of this data effectively?
- Challenge: Managing organisational change and user adoption.
- Details: If trust in the data and the report quality are 2 of the biggest issues in Business confidence, how do you track, manage and report on source data changes, flows and normalisation?
Modern tools like Candela Rapid Data Integrator (RDI) and control frameworks are dramatically shortening the timeframes and improving the business’s ability to leverage the data faster. Source Systems can be landed in as little 4 weeks. ?Follow our page if you would like to read about some case studies sharing important lessons you can leverage in your own projects.
Co-Founder Candela Data Pty Ltd | Non-Executive Director - Ansvar Insurance, Chair Ansvar ICT Committee, Chair Risk and Compliance Committee
6 个月Too many people buying the "sizzle" without understanding the level of preparation required. These foundational elements are critical to achieving success and supercharging your data.