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Although tempting, focusing too much on the here and now can be a dangerous game.
Businesses may push back vital upgrades, such as those to digital architecture, due to upfront costs.
Reliance on legacy tech is more common than one might expect - even among heavy-hitters who dominate their industries.
However, the long-term potential gains make it more than worth the risk.
Security risks:
Legacy systems leave enterprises exposed tocybersecurityattacks anddatabreaches from hackers looking to exploit vulnerabilities.
The financial risks associated with outmodedsecuritycannot be overstated.
The more modernized the data systems are, the better connected the data will be as a result.
These can all drive improved interdepartmental alignment across organizations, better insights and ultimately, more informed business decisions.
Business-as-usual approaches (i.e.
siloed data teams, centralized data warehouses) are too slow and fragmented.
It can take months to deliver basic data capabilities and use cases.
This is because IT staff have to spend time and money to keep the obsolete software functioning.
This wastes the valuable staff-hours that could be channeled into improving products, services, or company systems.
Technical debt:
When it comes to upgrading, time is of the essence.
However, this is a misapprehension and can lead to technical debt.
The longer that upgrading is deferred, the harder transitioning to a more modernized system becomes.
This can stifle business opportunities enormously.
This can lead to the new system being rushed and poorly integrated, ultimately setting it up to fail.
Transitioning away from legacy tech must be achieved in a safe and cost-effective manner.
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