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Asian Firms Failing on Innovation Projects, Said an Oracle Survey

While 28 per cent of respondents cited ongoing inertia and resistance to change, 26 per cent said lack of process is hampering their innovation efforts

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Oracle Launches Intelligence Map for Close Look at Internet.
Witnessing double-digit growth in India for past 3 years: Oracle. IANS

Fewer than 20 per cent of innovation-focused projects are coming to life, primarily because of lack of focus and leadership, poor processes and an ongoing resistance to change, an Oracle survey said on Tuesday.

Two thirds of those surveyed said 80 per cent of innovation projects never make it to market while over one third of companies are overwhelmed by too many innovation projects, the findings showed.

“While Asia has taken a lead globally in innovation, the research confirms the growing feeling that there is an impending innovation winter coming,” said Andrew Sutherland, Senior Vice President, Technology and Systems, Oracle APAC and EMEA.

The survey of over 1,850 decision makers across the Asia Pacific region in the cloud solutions and software market also revealed that despite a clear link between growth and innovation, most of the companies interviewed have little plan to be proactive in innovation over the next three years.

Oracle office.

“In today’s highly competitive global economy, companies cannot afford to sit back. Those who do risk being outpaced with little hope of catching up. Instead, they need to look at the barriers and actively seek to address them,” Sutherland added at the “Oracle OpenWorld Singapore” event.

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While 28 per cent of respondents cited ongoing inertia and resistance to change, 26 per cent said lack of process is hampering their innovation efforts.

“Organisations are moving away from traditional critical success factors measuring success of employee productivity (52 per cent) and revenue (53 per cent) and increasingly looking towards areas like customer experience (57 per cent) and retention (52 per cent) as the key measures for Return on Investment (ROI),” the report added. (IANS)

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Oracle Witnessing Double-Digit Growth in India For Past 3 Years

The Oracle Autonomous Database now has the capability to automatically scan for security threats and apply security updates while running to help prevent cyberattacks and data theft

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Oracle office.

Cloud major Oracle, which is seeing high demand in the Banking, Financial Services and Insurance (BFSI), telecom and manufacturing sectors in India, has witnessed double-digit growth in the country for the past three years, a top company executive has said.

Start-ups and small and medium businesses (SMBs) are fast adopting Oracle’s Software-as-a-Service (SaaS) in the country.

“We are seeing double-digit growth (on an average) in the country. In fact, that’s both in our NetSuite business as well as our enterprise business.

“The India Cloud business is really booming. Overall, the double-digit growth has been there for the last three years in the country, which has been the best-performing region in the Asia-Pacific for us,” Shaakun Khanna, India SaaS GTM Lead, Oracle, told IANS in an interview.

The company competes with major Cloud players like Amazon Web Services (AWS), Google Cloud Platform and Microsoft Azure and provides services such as SaaS, Platform-as-a-Service (PaaS) and Data-as-a-Service (DaaS).

According to Oracle, as a corporation, the firm is on track to become the top SaaS company in the world.

The company offers innovative and proven Cloud suite of SaaS applications that enable customers to transform their business with the latest intelligent technologies such as Artificial Intelligence (AI) and Machine Learning (ML).

“From a perspective of completeness of our enterprise applications, there’s no one who can compare with us. So, that’s pretty much our objective and vision in India as well,” Khanna added.

Oracle Launches Intelligence Map for Close Look at Internet.
Witnessing double-digit growth in India for past 3 years: Oracle. IANS

According to the company, going “autonomous” gave it an edge over rivals in the country.

Larry Ellison, Co-Founder and Executive Chairman of Oracle, in October unveiled the second generation Oracle Cloud with autonomous capabilities, improved security and upgrades for enterprises at the company’s annual user conference “Oracle Open World 2018” in San Francisco.

According to Khanna, autonomous is probably the biggest thing because, with autonomous, the ability to engage technologies like AI, ML, UI-UX, is there.

“I think the other advantage is our diversity, because if you look at it, we are the only company of our stature in the world that has everything — it’s not just the applications that are ours, the hardware, the infrastructure, the database, everything is Oracle,” Khanna noted.

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The Oracle Autonomous Database now has the capability to automatically scan for security threats and apply security updates while running to help prevent cyberattacks and data theft.

“If you look at the way Oracle built its first set of Cloud infrastructure is very similar to how Google built it, how Amazon built it, how Microsoft built it, almost everyone built it and we are doing exactly the same.

“Larry and the other founders who started Oracle — they were working for a CIA project and then they came out and started Oracle. So we understand security from our DNA,” said Mitesh Agarwal, Vice President, Key Accounts, Oracle India.

“Almost all of our competitors have never managed to move an enterprise workload to the Cloud — not a single one of them. They all have peripheral applications that have moved to the Cloud. That’s still only about 5-6 per cent of the workloads in the world,” Agarwal informed. (IANS)