Leading data-ready organisations produced an average of 90% better business outcomes than laggards, but only 20% of businesses are in the leading band with a majority in the developing (66%) and lagging (14%) bands, the Asia Pacific Data Readiness Index (DRI) from Tableau Software shows.
IDC surveyed executives from over 700 firms in seven markets — Australia, China, Hong Kong, India, Japan, Singapore and South Korea — on key dimensions of data-readiness, such as skills and organisation, process, technology and governance.
Based on the results, organisations were classified across three bands of data-readiness, leading, developing and lagging. The DRI
The survey highlights thatpeople-related traits like employee data skills and organisation-wide collaboration are seen as key performance drivers.
To help firms navigate the challenges of becoming data ready, Tableau launched its Tableau Blueprint, a strategic framework with concrete plans, recommendations, and guidelines.
“While many recognise the critical role data plays in this strategy, they are struggling to become truly data-driven,” said JY Pook, SVP for APAC at Tableau. “In order to remain competitive and realise the business benefits, organisations need to adopt a holistic and tailored approach to drive data readiness in their organisation.”
Overall, Singapore (52%) have the largest number of organisations leading the way. India has the most organisations that are lagging behind (30%).
Firms in Singapore also come up as leaders on the dimensions of people skills and governance. The findings suggest that businesses in Singapore should leverage technology and adopt an integrated model for data governance to take their data-readiness to the next level.