23 Oct 2017
Oz Business to Ramp Up Analytics Investment in 2018
SYDNEY, October, 18th 2017 – For several years the business world has been talking about the potential benefits and implications of fast-developing analytics technology, as companies increasingly recognise data as a strategic asset.
2018, as shown by IDC's 2017 Asia Pacific Software Survey, is the year when Australian businesses will give investment on analytics a boost in a bid to better-use the data that has been captured and maintained.
IDC surveyed IT decision-makers across Asia Pacific on their priorities, objectives, challenges, and preferences with regards to software implementation for the coming 12-24 months. 200 Australian IT executives answered the survey. Comparing the current deployment rate and the likelihood of getting increased investment in the next 12 months, big data analytics is the stand-out area where businesses will focus upon.
"41% of responding organisations in Australia have deployed some sort of big data analytics initiatives, that's the current state. Looking at the next 12 months, 50% of the respondents say they will increase their investment on big data analytics. “This indicates adoption is going to pick up, and utilisation will expand", says John Feng, Senior Market Analyst from IDC. "To add in a bit of context, cloud deployment models, which is another hot topic among IT executives, has a rate of 48% that will increase investment on it. On the top spot we have infrastructure and security software, on which 53% will increase investment in next 12 months. Not surprising for the relatively more matured Australian market, where compliance and governance cannot be stressed enough."
The proliferation of data-generating sensors, the declining unit price of storage, the interconnectivity of endpoints, the adoption of cloud, and the development of the digital economy, all have enabled the collection of a rich amount of data in almost all aspects of business and production activities. The amount and breadth of accumulated data has reached the point where it can be utilized to aid in running the business. The increasing involvement of line-of-business in technology adoption, in demand for a clearer and more responsive view of everyday operations to derive deeper insights; the development of edge computing enabling the collection of richer data sets as well as quicker turnaround time; the flexibility of cloud consumption model helps bring the cost down - these three factors will help drive demand for big data analytics.
"To take advantage of the demand for data analytics, vendors must ensure the data generated is ready for aggregated analysis and automatic processing. From a solution point of view, capability to integrate with multiple data sources and perform real-time, reiterative business-specific analytics that feeds back to the production process will be very appealing to end users. Customers will be demanding analytics capabilities that can provide a simple, flexible, unified view of multiple data sources that ultimately lead to measurable business outcome” Feng goes on to add.
Data analytics is expected to move from retrospective business reporting to be more and more involved in timely, forward-looking business decision-making. Its implementation will be in different stages as customers go through the journey of becoming a data-driven business. Ultimately, data analytics, coupled with automation, will empower an organization to be more efficient and better adapt to the faster pace of change in the digital world.
For more information on the 2017 Asia Pacific Software Survey, please contact John Feng at firstname.lastname@example.org.
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly-owned subsidiary of International Data Group (IDG), the world's leading media, data and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @ IDC Australia.