Application modernization is a popular initiative today because businesses realize they need to take new technology-based approaches to gain more competitive advantage with data. While existing application architectures might have served them well in past years, the quest for new innovative strategies points to newer technologies that complement their existing systems. New technologies will help businesses gain new capabilities that drive significant business outcomes.

Without a modernization initiative, business challenges remain intact with regard to high operational costs, lost revenue, lost competitive advantage, and loss from fraud. An application modernization strategy can efficiently add the capabilities to boost revenue and reduce costs. Strategies that enable: 1) real-time data, 2) event-driven architectures, and 3) artificial intelligence/machine learning, are helping businesses get more value from data and gain the advantages they need to get ahead.