Data management solutions company Informatica Corp. has been recently rolling out new and innovative data management capabilities — including Data 3.0. And, according to Amit Walia, EVP and chief product officer of Informatica Corp., his company is bringing unprecedented analytic power to business users by enabling a new cloud analytics stack.

Walia spoke to Dave Vellante (@dvellante) and Jeff Frick (@JeffFrick), cohosts of theCUBE, from the SiliconANGLE Media team, during BigDataNYC 2016, held at the Mercantile Annex in New York, NY. The main topics of discussion included the state of data management and what data means to clients and their businesses.

Democratization of data

Vellante and Frick asked about the evolution of management and where Walia sees that going.

“Our vision is based on where we think our customers want to go. … Data 3.0 is in my mind, the democratization of data,” Walia said. “If clients do not democratization their data, they’re going to die.”

He also said that “data is the only asset we have, going forward. … We used to use the words, ‘born in the cloud.’ That’s what Uber and Facebook are, born in the cloud.”  These companies’ high agility from cloud technology helps them to be leaders in their industries, he explained.

Additionally, Walia pointed out that today, clients bring in data from many sources. That data needs to scale and to be usable. Three critical ideals concern customers regarding their data: consumerization (enterprise software has to get easier); agility (real-time data, hybrid and seamless); and scalability.

Educating customers     

Frick asked about how customers are grabbing onto their data and where that’s taking them.

“When I look at our customer base … 50 percent are still trying to grapple with this data economy. …Another 25 percent are figuring it out, how to play in the data economy; 20 percent have at least thought through the critical business drivers, and how to pivot … and five percent are really there,” said Walia.

As an example, he spoke of banks that are more and more solely data based, as there are fewer and fewer bank brick-and-mortar locations. While the banks have so much data about their clients — everything from their incomes to how much money they owe on their homes — banks, in general, don’t know what to do with that data and how to take it to the next level of customer service. They’re still working in a 20th century economy.

Walia said that Informatica’s job is to help educate its customers, to explain to them that they must learn to manage their data and get out ahead of their competitors.

Watch the complete video interview below, and be sure to check out more of SiliconANGLE and theCUBE’s coverage of BigDataNYC 2016.

Photo by SiliconANGLE