Business Analytics a top priority for 65 percent Asian cos
Over 65 percent of the 1,300 CIOs and IT decision makers who participated in a recent Asia/Pacific excluding Japan (APEJ) survey conducted by research firm IDC consider Business Analytics (BA) as a top priority for their organizations, both in the short and long term.
The Asia/Pacific Business Analytics Pulse Survey also found that 29 percent of organizations in the APEJ region are currently evaluating Big Data tools like Hadoop, while over 30 percent still do not have plans regarding these technologies.
“Big Data is still a nascent market and the use of Big Data technologies is still in experimentation phase for Asian organizations. However, we expect specific use cases to drive awareness and adoption of Big Data technologies in 2012, particularly for banks, telcos and governments,” says Daniel-Zoe Jimenez, Program Manager of Business Analytics and Enterprise Applications at IDC Asia/Pacific.
According to IDC use cases such as fraud detection, pricing optimization, risk management, and brand and reputation monitoring will drive awareness and adoption of Big Data technologies for the above mentioned sectors.
IDC states that the need to cope with the aggressive growth of data, particularly as we move into the semi-structured and unstructured realm, as well as contend with the increased variety of data sources, is introducing a number of challenges and significant f opportunities for organizations.
In addition, with the shift towards a less predictable market, where uncertainty is becoming the norm, the research firm expects increased awareness and adoption of BA in order to support faster and more accurate decision-making.
Jimenez adds that organizations across the region are placing strong emphasis on improving performance, while obtaining faster returns on assets, people and real estate. The focus is on measuring (e.g. past performance), predicting (e.g. business outcomes) and preventing (e.g. poor planning and customer churn).
“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 optimize business operations. 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,” he says.
In parallel, IDC is also seeing technology disruptors like appliances, in-memory technologies and non-relational databases impacting the traditional data warehousing, business intelligence and advanced analytics space.
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