Next Pathway //
May 19, 2020
Next Pathway //
June 25, 2020
Recently named by The Globe and Mail as Canada’s hottest cloud start-up company, Next Pathway automates the end-to-end challenges our customers experience when migrating applications to the cloud
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Data management and analytics were once a sub-field of every business, each allocated to individual departments with little company-wide discussions or direct contact. Data management was left to the IT department and analytics were done in a separate group at which time the finalized tables, reports, and visualizations were forwarded to marketing and the executives.
In today’s day and age, businesses build yearly
growth goals around the concept of becoming truly data-driven in every decision
they make. While gut instincts and experience are variables that we can never
truly rule out of decision making, the ever-improving insights derived from
machine learning and artificial intelligence backed statistical analytics have
rapidly become the launching point for any discussion about the future
direction of a company. The sheer amount of data being produced today dwarfs
previous decades and the way businesses gather insights and make decisions
should adapt and grow as well.
It has been predicted that by 2022,
approximately 75% of all databases will either be launched in or migrated to
the cloud. This trend is directly tied to the growing influence of data
science, the field responsible for implementing the machine learning,
artificial intelligence, and statistical analytics services mentioned above.
This field is heavily reliant on immediate access to massive amounts of data.
As the old saying goes, “Your predictions are only as strong as the data they
are based on.” While there are some universal aspects of sales such as customer
service and relationships, others don’t necessarily translate. Thus, the importance
of data analytics and insights in real-time has grown along with the evolving
marketplace that businesses find themselves in today.
Another thing to consider is multi-cloud usage.
Often, this state of being isn’t planned upfront and came about as the business
grew and adapted to their customer base. Perhaps one department has seen rapid
success utilizing a package offered by one provider whereas another department
has seen the same success with someone else but neither offers something that
is best for both departments.
Depending on the circumstances, running a
business with a multi-cloud environment can be challenging; however, it is
predicted that in the coming years there will be vast growth around
streamlining this process – backed by the ever-present principle of supply and
demand. It’s worth keeping your eye on the market for new startups and existing
companies releasing technology that’s related directly to streamlining the
process of data storage, acquisition, access, and analytics in the multi-cloud
As the amount of accessible data grows exponentially,
so too shall its potential value. The greatest strategic advantage that a
business can have in today’s market to get a competitive edge over its
competitors relates directly to the applications of the insights delivered from
this data. Companies need to not only understand and apply principles related
to data storage, security, and maintenance but also to recognize the value of
becoming a truly data-driven company. That is, from start to finish, any and
all business decisions must not only be based on data insights but also must
grow and adapt based on the latest analytics.
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