A recent KPMG survey concluded that about three-quarters of all organizations in the Asia-Pacific region have been using Data and Analytics (D&A) for the last five years. Percentage of senior executives as high as 74 in the Asia-Pacific region finds Data and Analytics to be very imperative.
KPMG suggests that organizations should understand their data consumption needs to extract value from D&A investments. Companies should also create a sound data strategy, implement a robust data governance model and invest in D&A capabilities and training. Tom Mouhsian, KPMG's head of Customer & Growth Practice for the ASEAN region said, "Today, small yet highly-analytical organizations are emerging and quickly stealing away market-share by making better use of their data to drive real and valuable insights. It's not about size - it's about how well you know your customer and what you are able to deliver. The role of D&A is shifting from the traditional inward-directed static performance reporting to outward-directed value-generating insights, benefiting end-customers in daily lives."
While many respondents aren’t fully utilizing and thereby not getting benefitted from Data and Analytics by comparing it with management information, others who are utilizing Data and Analytics are growing. 83 percent of respondents from Australia and China respectively ranked their companies as effective at leveraging analytics. 63 percent of The Association of Southeast Asian Nations (ASEAN) respondents ranked themselves as such. About the growth of Asia Pacific businesses Tom Mouhsian said, “Rapidly increasing competition has given organizations a strong incentive to assess how to leverage data to drive growth. Our research suggests that Asia Pacific businesses are focusing their D&A strategies around three main imperatives: the growth agenda, the mitigation of risks and the reduction of costs.”
The D&A strategies are stimulated by various factors. In the full-grown Australian market the D&A strategies are driven by customer-facing objectives and compliance requirements. Singapore is shifting their focus of D&A strategy towards growth-oriented drivers such as customer insight and management. Access to information using data analytics is the focus of Indonesia. IT in the Philippines is the heart of D&A strategy.