Image (below) - 'Silo problems exist across Asia-Pacific'
Despite the lack of progress, respondents believe in the ability of big data to improve their businesses: more than 70 percent say that it can deliver gains in productivity, profitability, and innovation.
The reasons for slow adoption of big data strategies are diverse. Respondents cite poor internal communication and information sharing as well as a lack of in-house skills and software. Nearly two-fifths say their company's big data strategy has not been well communicated. In Malaysia, around 63 percent of respondents, or nearly twice the regional average, cites a lack of communication between departments as the major inhibitor to effectively using data in their organisations. The limited take-up also flies in the face of the wider belief that effective use of data matters; more than three-quarters believe it is critical to success.
Telecommunications (67 percent), consumer goods (57 percent) and financial services (52 percent) industries are leaders in recognising that big data can greatly improve their understanding of customer needs. However, more than 60 percent of the firms in the financial services and consumer goods industries haven't started any big data programmes. Healthcare and life science are lagging further behind; 72 percent of them haven't started any big data programmes.
To improve big data adoption, organisations need to ensure:
Cultural alignment throughout the organisation: C-level executives should realise the significant impact of big data on their revenue and competitiveness, and take ownership for defining a big data strategy. Organisations should adopt policies that help break down silos, improve internal communications, and establish advanced technology platforms that can support information management and analysis.
Early IT Integration: IT departments need to be involved in the business planning cycle earlier and more tightly integrated to the business in order to translate data into intelligence, and increase the return on data capital assets. IT contributions are measurable and have a real impact on increasing revenue outcome. Understanding the real business needs and delivering intelligence by using the right technologies and technology partners not only enables sophisticated analysis, but also delivers a high level of automation that can offload the burden of daily operations.
Jimmy Cheah, Managing Director Malaysia, Oracle
As evidenced by the 2013 SaaS Industry Report (Siemer & Associates), the worldwide software-as-a-service (SaaS) market continued to grow, and we observed that local customers' demand for SaaS also increased during 2013.
In Malaysia, SaaS has the highest adoption in cloud computing followed by Infrastructure-as-a-service (IaaS) and Platform-as-a-Service (PaaS) as shown by the Australia Trade Commission's ICT to Malaysia report (March 2013). SaaS solutions are fast becoming more attractive to enterprises because of the growing mobile workforce and increasing usage of cloud-based apps. In addition, more enterprises are deploying SaaS-based CRM (customer relationship management) applications.
Based on our observation on the Malaysian business market, local core industries and organisations are seeking transformational technologies to simplify their business processes, increase productivity, and control costs. This represents a strong motivation for Malaysian organisations to set enterprise software adoption as the priority to manage, access, and share information (structured and unstructured) in order to stay relevant in today's competing economy.
At the same time, the talent gaps in ICT field are also becoming more apparent. The rapid evolution of the ICT industry has resulted in shortage of supply for high-quality professionals. As more organisations seek to leverage on transformational IT technologies such as cloud computing and analytics, we can see many of them face daunting challenges to find people with the right technical and soft skills-mix to fully harness the big data growth.
As global markets continued to improve in 2013 and resumed growth, local businesses also continued to innovate and accelerate competitiveness using the intersection of disruptive technologies such as cloud, mobile, social and information under big data.
Cloud computing will continue to be an integral part of most organisations' IT strategy. It is also one of the government's top ten strategic technology priorities under the
Economic Transformation Programme [ETP]
In today's highly connected business environment, organisations can adopt more innovative cloud applications to meet the ever-changing competitive needs of the business.
Generally, local organisations can continue to strive toward realising the highest business value possible from their existing investments in IT infrastructure and application software. Forward thinking organisations can make significant progress in their IT modernisation projects, which is to maximise their use of existing application assets, re-architecting legacy applications to help reduce their reliance on disappearing legacy skill sets for business transformation.
Organisations that procrastinated on the move to modernise their IT infrastructure, software and applications may find their business lagging behind those that aligned their IT strategy with business goals in a most cost-effective manner.
In light of our global strategy, Oracle Malaysia will be placing more focus into the new dynamics of both customer service and big data. Improving customer experience has been one of the top focus areas for local CIOs in the recent years. The big data trend brings organisations the ability to run more sophisticated analysis in a more granular way with the volume and different types of data, especially by bringing in social data.