On October 27, 2022, Acceleration Economy conducted an online “Data Modernization Battleground” event, in which leading data tool vendors were invited to showcase their products before a panel of Acceleration Economy analysts.
In this Data Modernization Battleground moment, Wayne Sadin explains the importance of the “three Vs” in data. He further describes how the data landscape has dramatically shifted over the last several years.
00:12 — There are “three Vs in data” — volume, velocity, and variability, all three of which have drastically changed over the years.
00:27 — Data is now collected “from machines, from trucks, from partners,” says Wayne. New types of data, like image data, are now being collected, which means the amount of new and overall data has rapidly increased. Businesses are now faced with a different problem than they were a few years ago.
00:50 — The world now has tools for data collection that they have never had before, such as low-code/no-code tools, stronger security frameworks, and the ability to integrate ERPs and CRMs with collected data.
01:13 — Wayne’s message to executives making the buying decision is that they must modernize. Organizations have the tools available to do so in the cloud, but they likely are not running in the data center right now.
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