This vendor-written piece has been edited by Executive Networks Media to eliminate product promotion, but readers should note it will likely favour the submitter's approach.
In today's digital world, there is no lack of available data on customer preferences and behaviours. In fact, technology has made this both instantaneous and cross channels. However, many business leaders struggle because data is being generated rapidly and collected from countless disparate sources from within and outside their organisations. Surprisingly, despite strong momentum in the big data market with 53 percent of organisations in the APEJ region considering big data and analytics as important to the business, data is still largely seen as an IT asset and responsibility.
In Singapore, the Economic Development Board (EDB) reported that the data analytics sector will likely add $1 billion in value to the economy by 2017, while the Infocomm Media 2025 masterplan, a government road map for the ICT sector over the next ten years, ranks big data as one of the key strategic thrusts for the nation.
The real benefits lie in collecting, managing and harnessing both structured and unstructured data and turning them into insights that can propel businesses decisions. Another key issue is the speed at which these insights can be generated and leveraged into business strategies essential for management and growth. Real-time predictive analytics can save business time and cost and enable businesses to drive richer customer experiences.
In fact, predictive analytic dashboards with 360 insights are known for helping businesses better monitor their IT environment with personalised, actionable insights from capabilities such as connectivity status, incident management, service activity, code level and health and risk scoring. These tools not only facilitate proactive action, they also bridge the gap and enable customised and near real-time data analysis across business functions for advanced decision making; thereby modernising the customer experience and increasing efficiencies.
With these personalised data visualisations, powered by data lakes, customers can quickly gain insight across their global install base and take action to proactively improve the overall health of their environment, thereby maximising their IT investments and reducing operating costs.
According to the 2016 IDC MaturityScape Benchmark Report for Big Data and Analytics in Asia Pacific (excluding Japan) (APEJ), APEJ organisations are fast maturing in their capabilities to leverage Big Data and Analytics technologies with 34 percent progressing to more mature stages like repeatable and managed stages. IDC research states an estimated 33 percent of APAC enterprises will commit to pursuing a 'cloud first' strategy this year reflecting the business readiness for change. We anticipate the shift and resounding adoption of technology that fuels growth and change to continue on an upward trend.
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