COVID-19 has largely accelerated rather than decreased spending on data and analytics.
Many companies have been blindsided by the double challenge of digitalization and developing resilience in response to the pandemic. While COVID-19 has largely accelerated rather than decreased spending on data and analytics over the last year, most firms are still struggling to put in place the data, analytics, and process capabilities necessary to making major strategic digital transformation initiatives work. Remote work has highlighted the democratization of knowledge and tools to support that distributed knowledge. Ubiquitous edge technology in industries, such as manufacturing and healthcare, is also fueling data, analytics, and AI to enable continuous innovation.
“Executing a Digital-First strategy is clearly the C-Suite priority just now. But this implies a data and analytics infrastructure that’s fit for purpose. Without it, big ticket investments in DX initiatives are likely to fail and disappoint key business and technology stakeholders”, says Dr. Chris Marshall, Associate Vice President, responsible for Data, Analytics and AI at IDC Asia/Pacific.
As regional enterprises push to accelerate DX, and integrate across silo initiatives, investments in this area will inevitably prioritize internal initiatives such as Data operations, Streaming Analytics, Collaborative intelligence and decisioning. COVID-19 and the supply chain challenges that resulted from it have also prompted a move to look beyond the analytics needs of the enterprise, and instead invest in shared data and analytics across the broader ecosystem of partners, customers, suppliers, etc. essential to the success of any company.
Here are the top 10 key Data and Content predictions that will impact both technology buyers and suppliers in Asia/Pacific for 2022 and beyond:
DataOps: By 2024, 20% of A2000 enterprises will have a data control plane architecture to enable DataOps, propel ML-based data engineering, reduce data risks, and propel innovation among Gen D workers.
Streaming Data: By 2025, 40% of spending on data capture and movement technology in APEJ will be on streaming data pipelines, enabling a new generation of real-time simulation, optimization, and recommendation capabilities.
Analytics and Knowledge Networks: By 2023, 20% of business intelligence solutions in APEJ will incorporate intelligent knowledge networks, extending core ML-based user augmentation with collaborative and collective intelligence functionality.
Ontologies: By 2025, 30% of A1000 businesses will develop and publish formal ontologies about the internal and external objects and metrics most relevant to them.
Decisioning Platforms: By 2026, the lack of an analytics control plane will drive 20% of A2000 enterprises to adopt decisioning platforms with unified analytics, business rules, workflow, and collaboration capabilities.
Video Content: By 2024, despite 70% of large enterprises in APEJ citing use of video in employee and customer communications, less than 30% of them will apply video analysis to interpretive decisioning across use cases.
Data Sharing: By 2024, 40% of A2000 enterprises will form data-sharing partnerships with external stakeholders via data clean rooms to increase interdependence while safeguarding data privacy and precious data assets.
Data Literacy: By 2025, to elevate their data culture, 30% of A2000 enterprises will have data literacy programs, including training to help employees spot misinformation and communicate or influence with data.
Intelligent Document Processing: By 2026, 75% of A2000 enterprises will have completely digitized and transformed their document processes, leveraging AI to support orchestration and decisioning in content-centric workflows.
Graph Databases: By 2025, 30% of A2000 enterprises will deploy graph databases, recognizing this technology’s applicability to a growing set of use cases involving relationship, influence, path, and pattern analysis.
“Since COVID 19, enterprise spending on IT has become more strategic looking to overcome the silos that have evolved over previous waves of IT investment,” says Jessie Cai, Associate Research Director, Data, Analytics and AI research, IDC Asia/Pacific. ” Our survey consistently suggest silos of data, technologies and people are the biggest challenges firms are trying to overcome.”
Tags: DataIDCTechnology
