New research conducted by HFS Research in conjunction with Syniti, a global leader in enterprise data management, showcases strength of data governance and management of organisations in Singapore and Australia, which exceeds its global counterparts.
Overall, the study reveals that while data is a clear focus are for C-level executives, there are still organisational disconnects in terms of execution—survey respondents still struggle with usable data.
The study, Perception Isn’t Always Reality: The Case for More Effective Data Management, surveyed more than 300 senior level executives at mid-to-large size enterprises across the globe. Asia Pacific respondents came from Singapore and Australia.
The report provides valuable insight into key data trends across the globe, and how Asia Pacific fares globally when it comes to data. Key findings include:
The findings of the report reveal that Singapore and Australia together are leading the charge when it comes to overall data management and governance, which are more centralised in comparison to global counterparts. This may be a function of the chief executive officer setting the data objectives and more involvement by the chief digital or data officers.
At the same time, however, challenges prevail—in particular, data quality and usable data. In Asia Pacific, one of the reasons cited for bad data includes inconsistent taxonomy in different operations. Globally, respondents cited a lack of governance and monitoring as the main factors to blame for bad data.
The good news is that nearly all respondents realise the value of data quality in driving business outcomes. Overall, 95% of executives believe that their companies would be more competitive, more innovative, and able to make faster decisions if their data quality were two times better—and data management is crucial to getting to this point.
Gary Chua, Managing Director, Asia Pacific & Japan, said, “Rapid digitalisation has created a proliferation of data, and businesses still struggle to connect their data management to business outcomes,”
“The good thing is that the C-suite is responding to calls to implement clear governance and data strategies. Organisations in Singapore and Australia are model examples, with stronger data governance and overall management globally,”
At Syniti, we are committed to helping companies realise the most value and maximise the opportunities of their greatest resource: data.”
Read the full study, Perception Isn’t Always Reality: The Case for More Effective Data Management
