The private network world is one which value wasn’t understood by enterprises until recently. As the landscape matured, enterprises began to see the benefit of investing into their networks with global revenue for private infrastructure anticipated to reach over $5 billion by 2027. Today, enterprises’ focus has shifted to how private networks can propel them into the next phase of their innovation journey.
The business landscape is progressively operating on data being the key to success and this mindset shift is an indicator the data revolution is upon us. This revolution brings a new enterprise to the horizon, one powered by data analytics and AI. Business leaders looking to be victorious in the transition to the enterprise of tomorrow will need to establish a deep understanding of the integral role the private network plays and a data-centric approach to how they operate.
The Evolution of the Private Network Landscape
Once focused on touting its ability to enable autonomous robots and holograms, the private network world found success leaning into more practical use cases like offering more control over securing environments. This evolution has been critical, as harnessing data’s full capabilities heavily relies on having the right infrastructure.
A major contributor to the industry’s maturation has been vendors’ concentration on furthering their expertise in applying private networks to specific industries. Healthcare for example has a variety of applications that need to be wirelessly connected while requiring a stringent level of data security. Private 5G networks can support this connectivity while ensuring sensitive patient data remains secure. Focusing on vertical use cases like this has enabled the move away from technical proof of concepts to business-driven implementation, equipping industries with the proper infrastructure for their data.
The advancement of offerings is another driver of transformation. Previously viewed as separate entities, a deeper comprehension of the relationship between Wi-Fi and cellular brought a rise in the availability of converged solutions. This convergence helps to optimize connectivity and eliminate coverage gaps, both of which are essential in supporting the flood of data brought on by the explosion in applications and connected devices. While we’re only at the start of the innovation from this convergence, next-generation networks will lay the groundwork required to keep pace with our ever-changing technologies. Additionally, the landscape’s metamorphosis introduces a solid foundation for the data-powered future: those with the right network in place are ready to move to the next phase of their journey, building a data-centric approach.
How to Build a Data-Centric Approach
While 48% of organizations report being data-driven, most businesses have only just begun the ascent into their data journey. The complexity of the process going from data collection to data insights to data-driven actions is one that, if not addressed properly, can take months or even years to complete. Successful leaders will be those who place an aggressive focus on establishing a data-driven culture as a top priority for their business.
Using data for a competitive advantage requires enterprises to arm themselves with near real-time insights, and those who lag in establishing an environment that enables rapid and successful data mining will be their own detriment. To jumpstart their data-powered journey enterprises must consider:
- A consistent and disciplined approach: To support internal teams in the data collection and analysis processes, a thorough approach can decrease inefficiencies and the risk of ending up with wrong conclusions. For example, collecting data only from certain devices often leads to an incomplete picture. While the collection of all data being generated is unlikely, enterprises must identify what data is needed for current and future use cases and ensure it’s being regularly gathered from all the necessary sources to get a holistic view.
- Increasing software investments: With vast amounts of data being collected instantaneously, enterprises need to ensure it’s being processed accurately. Unstructured data makes up between 80 to 90 percent of all data, but structured data is what provides enterprises with the necessary insights to be data-driven. To gain value from the influx of unstructured data pooling in from sources like connected devices, software solutions can help enterprises seamlessly convert it to structured data. These solutions also help in data link creation, identifying relevant relationships existing across the myriad of data sources that enterprises have in place.
- Identifying where advancements can help: Businesses should evaluate which areas of their plan can be simplified, like taking into consideration how ongoing AI advancements can be incorporated throughout their strategy. With teams being inundated by the sheer volume of data coming in, AI solutions can help reduce the time it takes to sift through and gather real-time insights, allowing for more immediate action. Staying on top of emerging innovations can help ensure a faster more efficient process.
Businesses are facing mounting pressure to rapidly establish a data-driven approach to how they operate, and a triumphant transition will require having the right strategy and infrastructure in place.
It’s Time to Prepare for the Future Enterprise
Businesses today are sitting atop treasure troves of data, with many struggling to understand how they can turn these insights into actionable steps that will unleash new levels of innovation. In a world that’s increasingly reliant on data, it’s critical for business leaders to ensure their networks and data strategies are equipped to withstand the data-powered enterprise of tomorrow.
About the Author
Ana Redondo is Product Strategy Lead at Amdocs Technology. She has over 20 years’ experience in software and telecoms, and currently focuses on defining Amdocs’ strategy and new offering for private network, edge, satellite, IoT and network analytics. She also represents Amdocs at the 5G Open Innovation Lab.
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