SINGAPORE - Oct 14, 2016 – Published today by the Asia Cloud Computing Association (ACCA) ‘Data Analytics to Bridge Knowledge Gaps: An ACCA White Paper on Supply and Demand for Big Data Analytics in Asia Pacific’ reveals gaps in current services offered by data analytics professionals and the requirements of companies looking to engage them. These sentiments were shared via a survey carried out across the Asia-Pacific region amongst 25 companies and data analytics service providers.
Key observations include:
A current supply/demand mismatch caused by different perceptions of the barriers to adoption, with users citing cost as the greatest barrier and providers believing it to be the users’ lack of awareness on how to execute analytics services and lack of skilled employees.
Providers offering greater customisation in analytics services will be able to capture more market share among analytics users: Current and prospective users of analytics demand greater customisation of analytics services and interfaces. As firms in most industries except e-commerce find it difficult to leverage analytics in the correct way for effective customer targeting and predictive analyses that feed into marketing and the development of new products and services.
Analytics insight is key to staying competitive: 62% of companies surveyed use data analytics. However, less than half of the companies use analytics for finance related decisions — and only one in 20 companies use analytics for human resource decisions.
According to Arun Sundar from TrustSphere, “The impact that efficient use of data analytics could create to APAC businesses is profound and imminent. However, to drive greater adoption and value, the entire eco-system needs to play their part. These include analytics providers helping customers understand the various data sources, potential skill gaps, providing training and services aside to developing customized value propositions. The role of Governments and trade bodies too is critical at this juncture to bring the demand and supply side in alignment with industry best practices”