Data silos are a major obstacle for organizations in today’s digital landscape, hindering efficiency and decision-making. According to a recent webinar hosted by DBS Bank and AIM Media House, nearly 85% of enterprises consider data silos a significant challenge to their digital transformation. The webinar featured industry experts Luis Carlos Cruz Huertas, executive director at DBS Bank, and Sriram Venkateswaran, APAC head of data and analytics services at Google, who discussed the causes and impact of data silos, as well as the role of cloud technology in overcoming this challenge.
Data silos occur when data is isolated within different departments or systems, leading to inefficiencies and incomplete views of business operations. This is often due to legacy systems that are difficult to integrate with modern platforms. As Huertas explained, this can result in duplicate efforts, conflicting data, and inconsistent reporting, ultimately reducing productivity. Venkateswaran added that data silos also limit an organization’s ability to fully leverage AI and ML technologies.
One solution to breaking down data silos is cloud integration. Cloud platforms offer end-to-end data lifecycle management, simplifying the process of consolidating data from various sources. They also provide real-time data access and scalability, allowing organizations to expand their data capabilities without heavy investments. This makes cloud solutions crucial for decision-making and collaboration across teams.
In conclusion, data silos are a significant challenge for organizations, but cloud technology offers a solution to break them down and improve efficiency and decision-making. By leveraging cloud-based data warehousing solutions, organizations can overcome data silos and fully realize the benefits of AI and ML.
