Organisations in the Asia Pacific region are seen to finally embrace business analytics (BA) with CIOs and IT decision makers saying that BA is a priority in their organisations.
A recent study by IDC shows that more than 65 percent of respondents polled consider business analytics their top priority in the short and long term. The study -- done in June 2011 -- involved 1,300 CIOs and IT decision makers in the Asia Pacific except Japan (APEJ).
In the upcoming report, titled 'IDC Asia/Pacific (excluding Japan) Business Analytics 2012 Top 10 Predictions' noted that the trend towards the extensive use of data in decision-making is prompting organisations to become aware of BA.
The study also showed that 29 percent of organisations in the region are evaluating "Big Data" tools while over 30 percent still do not have plans at all about using "Big Data" technologies.
"'Big Data' is still a nascent market and the use of 'Big Data' technologies is still in experimentation phase for Asian organisations. However, we expect specific use cases to drive awareness and adoption of 'Big Data' technologies in 2012, particularly for banks, telcos and governments," said Daniel-Zoe Jimenez, program manager, business analytics and enterprise applications, IDC Asia/Pacific.
IDC noted that mature organisations are "moving up the 'analytical value chain'" by focusing on "predictive capabilities" such as forecasting, modelling and optimisation.
"For the mature markets where increased competition will drive laser focus in defensive strategies, we will see BA being used to improve cost control and customer loyalty, as well as to optimise business operations," said Jimenez. "Similarly, as businesses in Asia invest to drive growth in emerging markets, they are harnessing analytics-led solutions to gain better customer insights, manage risk and financial metrics more effectively, and at the same time, strive for unique market differentiation."
Top 10 predictions
With the expected growth in adoption of BA in the region, IDC offers its top 10 predictions for BA in 2012, starting with the emergence of a "Chief Data Scientist" who will map out the BA strategies in the organisation to make "Big Data" relevant to the organisation. However, this new role will most likely not rest on a single person, given the skills required, so IDC expects this role to be done by a "competency centre."
The other predictions include:
2. The demand for more "real-time" analytics will drive adoption of specialised business intelligence (BI) appliances to handle specific workloads and industry-specific use cases.
3. A new executive figure, the "Chief Sales Officers", will emerge to look at BA tools to increase sales effectiveness to respond to challenges such as increasing competition and uncertainty in the market.
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