Businesses face significant challenges in maximizing value extracted from data due to the increasingly growing amount of data they generate. In this situation, business success depends on the optimal environment you choose for your workload and the way you store data.
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In today’s era of digital transformation, data migration and modernization are critical for effective business operations. Many organizations have already embraced the cloud. However, IT teams face many challenges in data migration processes. According to Gartner, 83% of data migrations either fail or exceed their implementation schedules and allotted budgets.
Nevertheless, organizations can follow some best practices to overcome the challenges and failure rate of data migration and modernization processes. This article will discuss the risks associated with data migration and modernization and a few best practices to overcome those challenges.
Importance of Data Migration & Modernization
Companies having siloed data across legacy solutions and applications can benefit from data migration and modernization in several ways. It enables businesses to use data more effectively and deliver a better service to users. You can positively transform your business with data migration and modernization. Some of its benefits include.
Data modernization enables efficient data processing as data is easy to access and process.
Improved visibility into sensitive data from anywhere in the world, enhancing accessibility.
Provides stable business growth by creating standardized processes across shared data.
Real-time access to data helps make faster and more informed decisions.
Improves data quality and helps build scalable and flexible processes that reduce costs and boost ROI.
Risks Associated with Data Migration & Modernization
While data migration and modernization are beneficial for organizations, several risks and challenges are associated with these processes.
Lack of Leadership & Management Oversight: Lacking leadership and management oversight is a significant risk associated with migration and modernization processes. This can lead to the failure of the modernization program as a lack of leadership causes increased costs, ineffective decision-making, and missed deadlines.
Insufficient Strategies: Poor business and modernization strategies can affect migration and modernization initiatives. Not understanding applications and data support can impact the business values and ROI that organizations expect.
Security: Security is another significant concern involved in this process. Unencrypted data during migration and lack of other security controls can present several security challenges.
Longer Migration & Modernization Time: Predicting migration time with accuracy is challenging as network bottlenecks may impact the operation by restricting connection speeds or presenting other issues.
Higher-than-anticipated Costs: Improper planning or insufficient strategies can result in unexpected costs. For instance, transfers taking longer than anticipated will incur additional charges and costs.
Data Migration & Modernization Best Practices
You need effective strategies and best practices to ensure the success of data migration and modernization processes. Below are data migration and modernization best practices.
Assess your Business Requirements
The first best practice for data migration and modernization success is to assess and verify your business requirements and potential impact early in the process. Identify business goals you want to achieve from this, the process timeline, and what type of data security is essential throughout the process.
Moreover, assessing unexpected stumbling blocks and how much data loss or corruption is tolerable is equally important to evaluate how it will affect the business.
Focus on People Before Processes
Without proper planning and business engagement, data migration and modernization processes pose significant operational and financial risks to organizations. Many even fail to meet business expectations and complete them on time. Communicate the process planning and strategies with key stakeholders and take them on board with process goals and potential downtime.
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Keep everyone in the organization informed about the process and outline their roles and responsibilities. Once you have explained everything, ensure to keep everyone updated, particularly the key stakeholders, about the process progress and provide them regular status updates.
Identify the Right Migration & Modernization Strategy
Data migration and modernization require careful strategy and thoughtful planning. Identify the expected benefits of migration and build a strategic business case for your organization. Moreover, understand the relevant services different vendors provide. For instance, Transpire Technologies‘ strategy and consulting services help businesses embrace digital transformation and take full advantage of new business opportunities.
Understand Your Data
Understand what type of data you store and process and what it is used for. Identify who uses stored data and how you will use it in the future. For instance, data used for analytics have different storing, processing, and formatting requirements than those kept for regulatory compliance. Also, gathering all the information from relevant stakeholders and business units is essential for effective data migration and modernization.
Another best practice is to prioritize applications for data migration and modernization. For this, work with your business team and identify what applications are really contributing to achieving your business needs and goals. While making such decisions, you must manage change and ensure everything goes smoothly. Also, while migrating hundreds of applications, it is not recommended to prioritize and plan them all at once.
Test & Validate Migrated Data
Another critical thing is the validation of migrated data. This step helps ensure the data quality of the migrated data and whether the migrated data is the same as that on the source side. In addition, you can perform data validation in different phases of the migration and modernization process to identify errors in the migrated data. Data validation practices generally involve human resources. But you can also utilize tools and automated data validation processes to ensure data quality.
Migrate your Data Effectively With Transpire Technologies
Data is a critical part of every business. It is necessary to get the most out of your data for effective business operations. Data modernization can do wonders for your organization. While data migration and modernization are crucial for effective business operations, organizations often face many challenges and risks lurking in these processes.
An IT consultant like Transpire Technologies can help you transform data. We offer IT consultancy services for a wide range of business cases. Our team of experts works side-by-side with your organization to know your business goals and implement strategies accordingly. Accelerate your data migration and modernization processes with us. To know more about our services, contact us today!