Global data executives are continuing to invest in data management and cloud in 2023 despite macroeconomic challenges, according to a new CDO study by Informatica.
The study covered 600 chief data officers and chief analytics officers in the United States, Europe, and Asia-Pacific regions, with the latter including Australia, China, India, Japan, Korea, Malaysia, and Singapore.
Findings show that 64% of APJ data executives expect to increase data management investment, and 67% of them predict to increase their cloud spending.
In Singapore, (68% regional average) data leaders predict to invest more than their APJ counterparts in data management capabilities and cloud this year
The study revealed that data fragmentation and lack of cooperation across the business remain an issue as more than half (56%) of the APJ data leaders are managing more than 1,000 data sources, and unable to scale data delivery when and where needed (26%), comparatively higher than US and Europe regions.
Also, 55% of APJ data leaders will use five or more tools to support data management priorities in 2023.
Further, gaining more holistic views of data and improving data governance and processes are top priorities, with 52% of global data executives citing improved governance over their data and processes as a top data strategy priority for 2023.
APJ data executives ranked data quality and master data management capabilities as highly sought-after data management capabilities to invest this year.
“APJ data leaders continue to be at the forefront of global data leadership as our new study found that they are placing greater emphasis on adopting new technologies in the new year to drive their data strategy to improve business agility,” said Richard Scott, Group VP for APAC at Informatica.
“In today’s complex multi-cloud environment and ever-evolving market dynamics, customers will desire to invest in data management solutions that support and align to their overall organisational strategy, driving clear business outcomes from their IT investment to enable success in 2023 and beyond,” said Scott.
To recognise data-driven leaders who have profound impact on their company’s data-led transformation, fostering innovation and empowering their organisations to bring data to life, Informatica has announced the recipients of the 2022 Informatica CDO Awards in tandem with the annual CDO study.
The winners from the APJ region include Bank of New Zealand, GIC Singapore, La Trobe University, and LINE.
Looking ahead, data leaders across APJ region are looking to change and adapt quickly as data strategies evolve rapidly, exploring new trends such as data observability, applied AI and data mesh/data fabric – bringing strategies and tools together to achieve business priorities and measurable outcomes.