3. Formal data, analytics and AI strategy
What they do today
Executives at cloud-powered companies understand that data is at the heart of transformation efforts. And they need to address the all-too common issue of siloed — and mushrooming — data that is not only untapped but also ungoverned. Cloud-powered companies are much more likely to have an enterprise-wide data strategy than other companies (88% versus 59%). This means they develop a streamlined architecture to modernize their data into an integrated view, create governance structures, and concentrate on building the skills and operational changes needed to become a data-driven organization.
They also leverage cloud service providers (CSPs) in doing so and are focused on seamless integration: They are more likely to choose providers specifically designed to work with their primary CSP for the following cloud services.
Q: How would you describe your cloud provider strategy for the following data, analytics and AI service? (Response to 'Use provider whose services are specifically designed to work with our other CSPs')
Source: PwC 2023 Cloud Business Survey, January 2023: bases: 838, 95
Other companies
Cloud-powered companies
100%
of cloud-powered companies have improved decision making through cloud transformation
With their data in order, cloud-powered companies can turn their attention to leveraging machine learning and AI to reduce costs, add intelligence and get things done more quickly. Cloud-based AI services can be used to wrangle data, reengineer processes, make automated decisions in real time and drive simulations to model different strategies and outcomes. To do this, companies will need the business and data science talent who can make it all happen and make sure it’s done responsibly to reduce bias.
Where they’ll focus next
Master data management
Reporting
Data engineering
Analytics
79%
52%
Data catalog and governance
Data catalog and governance
Master data management
Reporting
Data engineering
Analytics
47%
68%
48%
74%
44%
77%
51%
68%
Analytics
Data engineering
Reporting
Master data management
Data catalog and governance
Do you prioritize providers specifically designed to work with your CSP?
Analytics
Data engineering
Reporting
Data catalog and governance
Analytics
Data engineering
Master data management
Data catalog and governance
Reporting
Select which service is most important to see how you compare.
of cloud-powered companies have improved decision making through cloud transformation
100%