Dominic Garcia, Head of Marketing at K2View, recently had an opportunity to sit down with Steve Kostyshen, K2View's CEO, and discuss the impacts of COVID-19 and the future of data management.
DG: COVID-19 has impacted everything from how we work to how we teach our kids. What do you think the long-term impact will be?
SK: COVID-19 has presented a unique situation professionally. Rightfully so, the focus is on the humanitarian goal of surviving this crisis. As the crisis wanes, executives have to turn their attention to the economic fallout and the unpredictability of the future.
They will need to begin asking questions such as:
- How will COVID-19 impact consumer attitudes and behavior?
- Will the public have a modified social outlook?
- How will the perception towards specific industries or brands change?
However, there is no way to predict this, thus making the future uncertain.
DG: How will organizations deal with this uncertainty?
SK: Companies will more than likely have less of a propensity when it comes to risk. A refocusing on agility will probably take place. Agility refers to the organization's ability to respond to new events and scenarios to survive and thrive.
DG: How will they achieve this agility?
SK: Generally, the way this is done is via innovation. In a post-crisis environment, organizations will need to create a lot more output with significantly fewer resources to be successful.
DG: What do you think that means for executives and their technology organizations?
SK: In past downturns, we have seen an acceleration toward innovation that was previously known and being worked toward, but now it will be at the forefront. Technology organizations will have to start innovating to adapt to a post-COVID world; practices such as Agile, ensuring security with a distributed workforce, and being able to scale on-demand will be paramount.
DG: If those are the challenges, are there any trends that you see organizations focusing on to address them?
SK: While I cannot predict what will happen, I think the most notable trend we will see is a move from an application-driven world to a data-driven world.
DG: So, there will be even greater investments in technology?
SK: This will be an era of doing more with less. The successful strategies will be low risk, low-cost efforts that are completed in easily-manageable sprints of weeks to months.
Existing legacy applications will not go away overnight and will continue to be around for a long time. However, data-driven technologies will likely augment these applications to provide flexibility, enhanced performance, and greater security.
DG: What does it mean for data management to move to a data-driven world?
SK: Delivering the right data to the right constituent immediately when required will become the measurement for success. Still, legacy applications that do not communicate with one another make this quite the challenge; if technology organizations can retrieve data holistically and in real-time while these legacy applications are still in use, they will be successful.
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