After the announcement on Tanzu as a brand & a quick run down of how the portfolio can help, a focus on modernizing applications is essential to business success and digital transformation, as software continues to shape and reshape nearly every global industry, for many retailers this is a very present reality, see the graphic below as an example.
Many businesses have massive expectations for their applications because they help shape customer relationships and drive revenue growth, as well as innovation, but keeping up with the pace of innovation is a major challenge for businesses everywhere, the emergence of tech trends such as Kubernetes micro services and cloud native architectures, both technologies are major opportunities as well as major challenges for IT Operations, as well as Application Development. That's where modernization comes in. Simply put, app modernization initiatives use cloud native principles such as micro services and Kubernetes to update existing applications and build new ones. Ultimately, businesses can release code into production faster and more frequently. And by doing so companies can increase developer productivity, reduce downtime save costs and improve customer experience.
Key technologies helping VMware customers on their app modernization journeys are VMware Tanzu Kuberenets Grid for VMware vSphere 7. This is the most powerful portfolio of products and services on the market. Our innovative approach empowers our customers to develop modern application strategies that drive their future success and growth. There are also some really exciting benefits like faster time to market rapid innovation cycles and simpler deployment and migration across diverse cloud environments app modernization is a core initiative for every business.
Our customers are looking at how app modernization will impact those new applications and hundreds of millions of apps already in use, and that modernization is a key investment that will improve systems that touch customers, touch revenue generation and business operations, it also holds the potential to drive long term efficiency and innovation for all our customers.