Data Readiness Index Reveals Leading Data Ready Firms in Asia Pacific Outperform Laggards by 90%
Organizations in Singapore and Australia lead the pack with the highest scores; findings reveal people at the heart of data readiness
SINGAPORE, 23 OCTOBER 2019 – Tableau Software, the leading analytics platform, announced today its Asia Pacific Data Readiness Index (DRI) developed together with IDC, a global market intelligence firm. The DRI reveals that leading data-ready organizations produced an average of 90% better business outcomes than laggards. Despite this, only 20% of businesses are in the leading band with a majority in the developing (66%) and lagging (14%) bands. The survey highlights that people-related traits like employee data skills and organization-wide collaboration are seen as key performance drivers. To help organizations navigate the challenges of becoming data ready, Tableau launched its Tableau Blueprint, a strategic framework with concrete plans, recommendations, and guidelines.
More than 700 organizations in APAC were surveyed across five dimensions to determine their state of data readiness and indexed into three bands, leading, developing, and lagging. Data readiness refers to an organization’s capability to make data central to their business through widespread adoption of analytics. Results are published in IDC's Executive Insights report, Data Readiness: Business Impact for the Digital Era.
“Organizations in APAC are at an inflection point of their digital transformation. While many recognize the critical role data plays in this strategy, they are struggling to become truly data-driven,” said JY Pook, Senior Vice President, Asia Pacific, Tableau. “In order to remain competitive and realize the business benefits, organizations need to adopt a holistic and tailored approach to drive data readiness in their organization.”
"The DRI captures an organization's ability to harness its data to secure enterprise KPIs. We see big differences in DRI across functions and industries throughout Asia. The factors that drive DRI like skills, leadership, technology, governance, and process also vary widely. These reveal some valuable lessons for business leaders about the initiatives to prioritize in particular circumstances," said Dr. Chris Marshall, Associate Vice President – Analytics, Big Data and Artificial Intelligence in IDC Asia Pacific.
Singapore Leading the Way
Singapore is one of the most data-ready markets in the region with the highest number of organizations in the leading band (52%). Organizations in Singapore also come up as leaders on the dimensions of people skills and governance. The findings suggest that businesses in Singapore should leverage technology and adopt an integrated model for data governance to take their data-readiness to the next level.
“These results confirm that our holistic strategy of empowering our people with the right tools, including quality data and robust analytics training, enables AIA Singapore to be even more customer centric. As a data-driven organization, we make our decisions based on deep customer insights into what they really want and need,” said Dion Thorpe, Senior Manager, Enterprise Data, Strategy and Transformation, AIA Singapore.
Overall, Singapore (52%) and Australia (49.5%) have the largest number of organizations leading the way. India has the most organizations that are lagging behind (30%). APAC markets rank as follows on the index:
|Markets||Average DRI score|
To access the full report, visit https://www.tableau.com/learn/whitepapers/apac-data-readiness.
Becoming data-driven with Tableau Blueprint
Tableau Blueprint provides a holistic framework that goes beyond the technical aspects to build core capabilities critical for an organizations’ success with data; agility, proficiency and community. It can be used by any organization regardless of where they are in their data journey. Tableau Blueprint recommends organizations build an agile data environment that is flexible and can evolve with the needs of the business, increase analytics proficiency in the workforce and create a sustainable community to drive adoption of analytics. This is underpinned by the right balance of trust and enablement within the organization.
Executives from over 700 organizations in seven markets (Australia, China, Hong Kong, India, Japan, Singapore and South Korea) were surveyed on key dimensions of data-readiness – people-related factors (skills and organization), process, technology and governance. Based on the results, organizations were classified across three bands of data-readiness, leading, developing and lagging. The DRI scores were also evaluated in relation to various business outcomes to understand the impact on performance.
Tableau helps people see and understand data. Tableau’s self-service analytics platform empowers people of any skill level to work with data. From individuals and non-profits to government agencies and the Fortune 500, tens of thousands of customers around the world use Tableau to get rapid insights and make impactful, data-driven decisions. See how Tableau can help you by downloading the free trial at www.Tableau.com/trial.