Compared with the global averages, the region’s respondents have shown a greater proclivity towards centralized data management and intelligence.
In a small study of 914 executives around the world, spanning eight industries and including 219 respondents in four APAC countries (Australia, China, India, and Japan), organizations here led in self-reported organizational performance in key areas of internal data utilization.
The independent Data Evolution in the Cloud global survey, sponsored by Snowflake, aimed to shine a light on the state of data management, development, and sharing worldwide. Its conclusion is that APAC organizations are consolidating their already strong global position in data management and utilization in various aspects. This includes the ability to deal with data-related regulations and ability to draw insights from data.
In particular, here are some of the key findings leading to that conclusion for APAC:
- A flourishing data marketplace: APAC respondents were more likely to select “third-party/ syndicated data vendors” as their most useful source of data, with 54% choosing this statement, compared with 42% globally. This option was the most useful source of data for APAC firms, all of which ranked “customers/clients” in the top spot.
- Convinced of the importance of data intelligence: 45% of APAC respondents were more likely than the global average of 38% to use AI/ML to a significant extent for developing products or services.
- 37% of APAC firms polled said their budget for integrating data had increased significantly over the past three years.
- 27% of APAC firm were more likely to see a benefit to centralization as it allows other departments to concentrate on their core competencies—compared with the global average of 18%.
- Complying with data protection laws: Only 47% of APAC respondents indicated that data-privacy regulations were the top challenge to organizations’ ability to collect data, compared to the global average of 56%.
- 40% of APAC respondents selected “investment in infrastructure and data systems” as a top challenge to data collection, compared to the global average of 32%.
According to Geoff Soon, Managing Director (South Asia), Snowflake: “Data analytics challenges such as data regulation and budget issues are not likely to derail APAC’s overall data evolution, as firms in the region are looking to advance their already-leading global positions in the realms of data exchange, development, and investment.”
Soon said the research survey suggests that APAC businesses want to use AI/ML beyond developing products or services, and organizations should continue to innovate in terms of data sharing and adopting automation technology. “Organizations can then accurately make data-based decisions and improve operational automation, which will provide a competitive edge for companies in the long run.”