Data can be an invaluable source of growth for organizations across Asia Pacific (APAC). The key to harnessing its true value is analyzing it effectively and creating a data-driven culture. But while the task of maximizing the value of data can come with challenges, organizations can take small steps to unlock its value.
According to a new report commissioned by Amazon Web Services (AWS) and prepared by Deloitte Access Economics, Demystifying Data 2022, organizations in APAC that harness the power of data could grow their annual business revenue by 8.7%. The report was based on a survey of 3,167 senior decision makers across APAC across Australia, New Zealand, India, Indonesia, Japan, Singapore, and South Korea. Businesses received a score across five pillars of data maturity including data, strategy, people, technology, and process. These results were used to assign businesses into five data maturity categories ranging from Basic to Mastery.
Half of organizations in APAC have intermediate to master levels of data maturity and are realizing impressive financial rewards. What does this mean and what can organizations do next to improve their data maturity? From building a culture of analytics, to transforming analytics into actionable insights, there are simple steps businesses can take to becoming a data-driven organisation.