On balance, investments may increase given the potential benefits of monetizing data and digitalization, if the following study is any indicator

In a survey of 600 Chief Data Officers, Chief Analytics Officers and Chief Digital and AI Officers from the US, Europe and the Asia Pacific region (defined here to include Australia, China, India, Japan, Korea, Malaysia and Singapore) from 9 Nov to 22 Nov 2022, plans for investments in cloud and data management were set to increase even amid macroeconomic challenges.

In Asia Pacific and Japan (APJ) region, 64% of respondents expected to increase data management investment, and 67% predicted increase in their cloud spending, versus 68% at the global level.

Some 56% of APJ data leaders in the survey indicated they were managing more than 1,000 data sources, and were unable to scale data delivery when and where needed (26%) — a comparatively higher rate than respondents in the US and Europe regions. Also, 55% of APJ data leaders in the survey indicated they will use five or more tools to support data management priorities in 2023.

At the global level, 52% of data executives in the survey cited improved governance over their data and processes as a top data strategy priority for 2023, while 32% indicated lacking a complete view and understanding of their data estate as a hurdle.

According to Richard Scott, Group Vice President (Asia Pacific), Informatica, which commissioned the survey: “Asia Pacific and Japan data leaders (surveyed) (continued) to be at the forefront of global data leadership: they were placing greater emphasis on adopting new technologies in the new year to drive their data strategy to improve business agility. In today’s complex multi-cloud environment and ever-evolving market dynamics, (organizations) will desire to invest in data management solutions that support and align to their overall organizational strategy to drive clear business outcomes from their IT investments in 2023 and beyond.”