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- New Relic, Inc.(NYSE: NEWR),Provider of the largest and most comprehensive cloud-based observability platform, presented new features for New Relic One at its FutureStack conference. New Relic One is the world's first observability platform designed to help customers achieve software perfection, today published the results of a global study on the success of digital transformation projects. According to the study, despite some hurdles, there has also been a lot of progress. Still, technology leaders are finding that their digitally transformed businesses are challenging to run and they are under increasing pressure to demonstrate business value.
The key findings of the survey are summarized here:
- One in two technology managers sees himself in the management and in the
- Monitoring the digitally transformed company faced with challenges
- Almost 50 percent of respondents admit that their customers find problems faster than they do themselves
- 89 percent of respondents believe that AI and ML are important for the
The survey was conducted by New Relic in partnership with Vanson Bourne, a market research company. A total of 750 internationally experienced IT decision-makers in companies with at least 500 to over 5000 employees were surveyed. The respondents are from Germany, France, Great Britain, Australia and the United States.
IDC estimates that by 2020 about 30 percent of G2000 companies will allocate a budget of at least 10 percent of sales to promote their digital strategies . This move towards larger investments is of great importance as executives recognize digital transformation as a long-term commitment. After investing billions in digital transformation initiatives, executives are now looking at the results of their investments and evaluating what the next steps in this process are.
"The focus of the next phase of digital transformation is on using the information gained from the masses of data to make companies more agile, make better decisions and create first-class digital user experiences," says Buddy Brewer, General Vice President and General Manager Client Side monitoring at New Relic. “As the survey shows, insights gained from data are of crucial importance for the digital transformation of companies. The analysis and inclusion of this information in decisions helps companies to scale and use the advantages of modern technologies. "
The challenges of digital transformation
Global companies state that their digital transformation projects are significant. to advance. 39 percent of those surveyed around the world say that they have already been completed or are about to be completed. 91 percent state that the desired results were achieved or even exceeded expectations. However, the five biggest challenges for a successful implementation of the digital transformation are identical for all respondents:
- Different parts of the company implement the digital transformation at different speeds, which slows down collective progress
- Skilled workers shortage
- Limited budgets
- Define and measure business value
- Persistent resistance to shutting down obsolete systems
Factors that contribute to these challenges
- Increased complexity: Over 50 percent of those surveyed see challenges in managing complex new software solutions and infrastructures and. Monitor performance issues. Around two thirds (67%) notice an increase in working hours in order to monitor and ensure software performance. This is due to the pressure of having to respond to company needs.
- Higher Expectations: Three in four respondents agree that the rest of the company have higher expectations of how digital systems should work. 72 percent expect more and more innovations and updates from the technology team.
- Lack of visibility: Almost one in two (48%) say that end users or customers notify them of a problem with digital apps before the company knows about it. In addition, 46 percent say they will be informed before they know a possible solution to the problem.
- Accountability: 46 percent of managers want daily updates on how powerful software systems are for employees and customers. 40 percent of CEOs want detailed information on failures or performance problems.
- Data analysis challenges: A major challenge for teams in managing modern software is the rapid growth of machine-generated data. Over half of the respondents (56%) stated that it is impossible to evaluate this data in detail. Larger organizations in particular see this as a problem: 58 percent of those surveyed from companies with 3,000 to 4,999 employees and 55 percent of companies with more than 5,000 employees are confronted with this challenge.
- Determination of business metrics: One in three respondents report that they face challenges with business metrics in digital transformation projects.
Outlook: Use of the cloud and artificial intelligence to promote digital transformation
- Change to the public cloud: The majority of respondents agree that migration to the public cloud (e.g. Amazon Web Services, Azure, Google) is a central element of digital transformation: 63 percent in Germany, 67 percent in France, 75 percent in Australia and Great Britain and 82 percent in the United States share this view.
- Use resources efficiently: Many (46%) agree that while migrating to the cloud is a good way to go, they don't have an overview of the costs. More than half (54%) also state that although cloud computing promises more efficient use of resources, there is no better control.
- Expectations for AI and ML to replace workers: A total of a third of respondents worldwide (37%) believe that AI and ML are within their job. will take over a decade - 41 percent disagree. In France, 55 percent see their job as endangered by technological advances. Quite different in the USA and Great Britain: There the numbers were the lowest at 31.6 and 23.2 percent.
- Promises of AI and ML: It is noticeable that 92.4 percent of the US respondents are of the assumption that artificial intelligence and machine learning will become essential for the operation of their digital systems. Globally, almost 84 percent of respondents think AI and ML are making their jobs easier.
The respondents from Germany show exciting results in an international comparison:
- Almost half of the German respondents (48.8 percent) identify strongly with the company as a completely digitally changed organization. This means that companies are dependent on rapidly changing digital technologies. By comparison, only about one in ten (12 percent) think that way in the UK. This trend has also arrived at the management level: 52 percent of the German respondents state that managers understand the relevance and provide support.
- Almost three quarters of those surveyed (72.8 percent) state that the digital transformation projects that have been carried out or completed to date have met expectations. Only eight percent admit that expectations were not entirely met. The Germans are also increasingly recognizing the importance of DevOps for the company's own digital transformation. At 53.66 percent, they are together with the USA (57.2%) and Australia (58.82%) above the international average of 52.74 percent.
- Artificial intelligence and machine learning are important to very important for the majority of respondents in Germany (88.8%). In comparison, in the UK, almost 13 percent are less convinced. In addition, 87.2 percent of respondents in this country are of the opinion that AI and ML could simplify their jobs in the future, in Great Britain less than half of the respondents think so.
- More than a third of Germans (35.2%) are aware of the term AIOps. Here, too, Great Britain lags behind Germany: only a little more than one in ten (11.2%) said they knew the term AIOps well. In an international comparison, the Germans are most likely to be convinced that AIOps makes sense in the long term (50%), whereas none of the French respondents share this reluctance.
You can learn more about the survey on this infographic and on the New Relic blog.
This press release contains forward-looking statements as defined under federal securities laws. This includes, but is not limited to, statements related to New Relic's FutureStack events, as well as statements about the timing, benefits, and availability of new products, innovations, and capabilities, and the potential value and benefit they can bring to customers . The achievement or success of the matters covered by such forward-looking statements are based on current assumptions, expectations and estimates of New Relic and are subject to significant risks, uncertainties, assumptions and changes in circumstances that could lead to actual results, performance or achievements by New Relic differ materially from those expressly or implicitly expressed in a forward-looking statement. Additional information about factors that could affect New Relic's financial and other results and the forward-looking statements in this press release can be found in New Relic's filings with the US Securities and Exchange Commission (SEC) from time to time. submits, including the most recent version of the document “Form 10-Q”, in particular under the headings “Risk Factors” and “Management's Discussion and Analysis of Financial Condition and Results of Operations”. Copies of these documents can be found on New Relic's investor relations website at http://ir.newrelic.com and on the SEC's website at www.sec.gov. Unless otherwise required by law, New Relic assumes no obligation and does not intend to update these forward-looking statements.
About New Relic
New Relic is the largest and most comprehensive cloud-based observability platform in the industry. It was developed to enable customers to develop perfected software. The world's best software and DevOps teams rely on New Relic to work faster, make the right decisions, and create great digital experiences. Find out at www.ewrelic.com why more than 50 percent of the Fortune 100 companies trust New Relic to run software worldwide.
New Relic is a registered trademark of New Relic, Inc.
All product and company names mentioned in this document are possibly trademarks of their registered owners.
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