Even with AI and data analytics capabilities, APAC businesses recently surveyed were unable to gain maximum insights from their data.
According to recent sponsored IDC studies, organizations that invest in creating data-to-insights (D2I) capabilities through modern data and analytics pipelines are seeing significant gains.
Now, two new resources are available that allow organizations to evaluate the strengths and gaps in their own data pipelines. A new IDC-hosted assessment tool provides a set of recommendations that will help organizations to improve their focus on strategic investments that can have significant bottom line impact.
Additionally, a new data analytics application provides a detailed geographic breakdown of the significant differences in how respondents in key markets such as the US, UK, Brazil, Australia, Singapore and Japan are positioned to either reap the benefits or fall behind competitors based on the strength of their data pipelines.
According to James Fisher, Chief Product Officer at data analytics platform Qlik, the company behind these initiatives, organizations across the globe are missing a crucial opportunity to impact their performance by turning data into ongoing business value due to gaps in leaky data pipelines.
Fisher believes that the unique end-to-end approach to data integration and analytics featured in the two new resources can help any organization “act at the speed of data through improved data-to-insights capabilities that drive tangible business outcomes.”
High D2I = High profitability?
Qlik’s overall survey of 1,200 business leaders showed that companies carrying the highest demonstrable D2I capabilities through modern data analytics pipelines (called leaders) were seeing significant bottom line impact.
- 88% of leaders said operational efficiency improved (versus 76% overall), and the average improvement was 21% (versus 17% overall)
- 86% of leaders said revenue improved (versus 74% overall), and the average improvement was 23% (versus 17% overall)
- 90% of leaders said profit improved (versus 76% overall), and the average improvement was 24% (versus 17% overall)
In the Asia Pacific region, the findings showed key differences in how each country was approaching data pipelines and their D2I capabilities, and how those approaches were impacting business performance:
- The average D2I score was 41.8 across the APAC region. India showed the highest overall score at 47.4, with Australia close behind at 42.4. Singapore and Japan carried the lowest scores at 38.8 and 38.5, respectively.
- One of the strongest impacts of a higher D2I score beyond increased profit or revenue was an increase in customer satisfaction/loyalty. The overall average of increase in this category was 21.5%, with Australia leading with a 27% improvement, followed by Singapore (21%), India (20%), and Japan (18%).
- Virtually every company surveyed across APAC (96% or higher) reported a significant challenge in identifying which data sources were valuable. Singapore recorded the highest rate of this challenge (100%), followed by India (98%), Australia (97%), and Japan (89%).
Analytics without agility
Regardless of regional differences, the survey had shown that every organization is inundated with complex and varied data types. Many are struggling to maximize the value of that data since it is flowing through unintegrated and leaky data pipelines, often due to a lack of a data catalog and change data capture capabilities.
In addition, investments in AI and analytics are being undercut without an agile, automated, and agnostic data pipeline that continually transforms data from any cloud, system or source into enterprise-ready information that drives action and outcomes.