55% of IT decision-makers surveyed by Foundry for the 2022 Data and Analytics Report plan to increase investment in data-focused initiatives in the next 12-18 months, up from 44% in the previous annual report.
Organizations across the globe are prioritizing digital transformation to accelerate efficiency in their processes, bouncing productivity back to new heights. According to the 2022 Foundry Data and Analytics study, organizations that were propelled by the pandemic to implement or pilot test data-driven projects in past years, now have them deployed and are beginning to see the benefits as well as the challenges. This includes the lack of a clearly articulated data strategy, executive buy-in, and especially with finding the appropriate skill sets to glean the most value out of data and analytics tools.
However, investment in the data and analytic space continues to increase as it has become vital to remaining competitive in the marketplace. Organizations will spend an average of $12.3 million in the coming year on data-driven initiatives (including software, services, training, consulting, and other related costs).
“Organizations understand that the network is the foundation for any digital transformation,” said N Jayantha Prabhu, Business Head (India, MEA & SAARC), Black Box, an Elite Plus partner of Juniper Networks.
According to the 2022 Foundry Security Priorities Study, security decision makers are “piloting” Zero Trust technology (16%), behavior monitoring & analysis (14%), and Extended Detection and Response, also known as XDR (13%). In a conversation about business trends, Prabhu added, “Organizations have started aligning their networks to zero-trust security frameworks. There is a lot of assessment to protect networks than ever before. Other trends that have been observed are the adoption of AI-driven operational dashboards and hybrid-mesh security systems. Using AI-enabled solutions, connected security, and automated routing, clients are looking for increased transparency and insights into their digital transformation adoption journeys, specific to the needs of their organization.”
Business trends also indicate an interest in increased investment in security architectures at organizations. Data and analytics ranked second among top initiatives expected to drive the most IT investment in 2023 close behind cybersecurity, according to the Foundry’s State of the CIO research 2022. The study further showcased that one-third of decision makers (33%) utilize machine-generated data from logs, sensors, telemetry, networks, security software, and IoT devices, which helps improve operations.
The adoption of AI and machine learning applications is also on the rise, according to the Data and Analytics study. Half of the organizations surveyed already use process automation applications or plan to deploy them in the next 12 months (50%). Decision support applications have or will be deployed by more than a third of organizations over the next year, and customer analysis (segmentation, churn modeling, and value modeling) is in use at 33% of organizations. In addition, virtual agents or chatbots, and fraud detection apps round out the top five AI/ML applications in use, with 29% and 25% adoption, respectively.
Juniper's Elite Plus partner, Black Box, in association with Juniper, is addressing the growing need and demand amongst India Enterprises for AI-driven solutions.
Black Box is a trusted IT solutions provider and a Global Solutions Integrator (GSI) delivering cutting-edge technology solutions and world-class consulting services to businesses around the globe. Its partnership with Juniper Networks, a leader in secure, AI-driven networks was elevated to Elite Plus status in the past year. This is in line with Black Box’s vision to drive the latest technology innovation and provide superior data and networking options to organizations.
“One of the key considerations for this partnership was that Juniper Networks is the leader in bringing innovation and new AI-driven solutions to the market. Many enterprises are adopting Juniper Networks’ solutions for their AI-enabled framework. In addition, as a system integrator, there is also a focus on bringing in increased certifications and expertise by building the right skillset within Black Box, to further help take these solutions global,” said N Jayantha Prabhu, Business Head (India, MEA & SAARC), Black Box.
“Organizations today, are looking for a reliable dynamic system integration platform for their IT infrastructure. In this regard, Black Box’s unique elite-plus global partnership status with Juniper Networks allows us to take its solutions global, across 35+ countries,” Prabhu concluded.
According to the 2022 Foundry Security Priorities Study, today, 84% of organizations have either already deployed or have data-driven projects on their roadmaps, and nearly two-thirds (63%) say they have introduced new revenue opportunities and/or lines of business over the last three years due to data and analytics. Meanwhile, IT decision-makers are continuing to purchase or are looking into user-friendly business intelligence tools, cloud-based enterprise data warehouses, and AI/ ML platforms that give them access to predictive analytics, anomaly detection, process automation, and decision support.