Hitachi Data Systems Corporation (HDS), a wholly owned subsidiary of Hitachi, Ltd yesterday shared a number of the key trends driving digital transformation in the Middle East, providing sector-specific insight and data in the financial services industry at the Information Security Conference for the Financial Sector, organised by Qatar Central Bank (QCB).
By 2018, digital transformation will be central to strategy for 67 percent of Global 2000 CEOs1. Data continues to grow across the wider region at an alarming rate and many organisations are struggling to get a grip on data regulations, making the risks of non-compliance or security breaches more likely. The rapid rise in business data within the GCC, Levant and North Africa, which is on a trajectory to grow year-on-year, means that the volume of information businesses need to store, manage and report on is becoming more difficult to govern. Additionally, the types of data that need to be captured are increasingly complex, and include instant messaging (IM), text, voice and social media interactions – so-called ‘unstructured data’. Hence, it is no surprise that since 2000, 52% of the names on the Fortune 500 list are gone2.
“Given the global trend toward compliance and reporting in different industries, companies must adhere to specific data storage and management as part of their business requirements -- not just in their local countries, but also across the world,” said Peter Sjoberg, Vice-President and Chief Technology Officer, HDS.
