Business leaders in Asia believe that a new data culture is needed for successful digital transformation

Business leaders in Asia believe that a new data culture is needed for successful digital transformation

Based on Microsoft’s Asia Data Culture Study 2016, less than half of business leaders believe they have a full digital strategy in place today and even more needs to be done to develop a data culture

Asia Pacific, 10 May 2016 – Microsoft Asia today unveiled findings from its first ever Asia Data Culture Study 2016, which showed that while 88% of business leaders polled in Asia agreed that it is important for their organizations to have an agile business that is data-driven, less than half of them (43%) believe they have a full digital strategy in place. Business leaders also identified gaps in their organizations’ ability to drive data driven decision making.

The study[1] polled 940 business leaders from medium to large companies in 13 markets in Asia. Respondents were surveyed on their organizations’ digital and data strategy, and readiness for the digital economy.

Andreas Hartl, General Manager, Cloud and Enterprise Division, Microsoft Asia Pacific said, “The confluence of cloud, mobility and data is changing the way companies do business with their customers. This is resulting in new demands that make it necessary for every business to transform to a digital and data-driven business.”

“In today’s mobile-first, cloud-first world, technology is interwoven into every aspect of our personal lives, forcing all businesses to be a digital business. As data is the electricity of the new economy, businesses need to turn data into actionable insights and predict the future as a way to get ahead of the trends and develop new revenue streams. Faced with economic uncertainties and disruptive competitors, analytics and predictive data is what organizations need to survive. With the right tools, insights can come from anyone, anywhere, at any time. When that happens, organizations develop what we describe as a ‘data culture’,” added Hartl.

The New Data Culture in Asia’s Organizations

The New Data Culture involves three organizational traits:

1. Infrastructure for Data Agility: Data platforms need to be interoperable with multiple data sources to collect information from any device, share it and present it in a meaningful way. There is a left to right view of the business enabling better decision making real time. Intelligence is built in to develop predictions from data.
2. Data Governance for Collaboration: There is C-Level ownership of the data strategy where access to data is democratized and governed by policies to protect information while empowering employees to collaborate seamlessly.
3. An Analytical Workforce: The ability to access and analyse data is held by a select few, for example, data scientists or statisticians. For a new data culture to happen, talents across the board need to have the ability to ask the right questions, analyse data and drive actionable insights.

Read more at https://news.microsoft.com/apac/2016/05/10/business-leaders-in-asia-believe-that-a-new-data-culture-is-needed-for-successful-digital-transformation/#GG2C807lbtmWGAAI.99