{"id":7842,"date":"2022-05-18T00:00:00","date_gmt":"2022-05-18T04:00:00","guid":{"rendered":"https:\/\/www.sisense.com\/press-release\/customised-data-and-analytics-is-key\/"},"modified":"2024-10-22T06:04:27","modified_gmt":"2024-10-22T10:04:27","slug":"customised-data-and-analytics-is-key","status":"publish","type":"press-release","link":"https:\/\/www.sisense.com\/press-release\/customised-data-and-analytics-is-key\/","title":{"rendered":"45% of APAC data professionals say customised data and analytics is key to higher selling prices, new Sisense report reveals"},"content":{"rendered":"<p><i>New Sisense Future of Data Analytics Report 2022 &#8211; Asia Pacific Edition reveals the deeper value of data remains untapped<\/i><\/p>\n<p><i><\/i>18 May 2022, SYDNEY: <a href=\"https:\/\/www.sisense.com\">Sisense<\/a>, the leading AI-driven platform for infusing analytics everywhere, today announced its <i>Future of Data Analytics Report 2022 &#8211; Asia Pacific Edition<\/i><i>,<\/i> which highlights data professionals in the APAC region see data and analytics as valuable to digital transformation and future-proofing their business, yet find their organisations\u2019 strategic capabilities are far from reaching their true potential.<\/p>\n<p>Key findings from the report at a glance:<\/p>\n<p><b>The Promise of Analytics<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Data \u2018gold\u2019 for boosting product pricing and customer loyalty: <\/b>Data professionals were asked about the value of analytics and almost half <strong>(<\/strong><b>45%) <\/b>agree offering personalised, customised data and analytics to customers could allow them to <b>increase the average selling price<\/b> of their products or services. Meanwhile, <b>43%<\/b> of respondents agree that data and analytics would help build loyalty and retain customers.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Data and analytics critical for business transformation:<\/b> Almost a third<b> (31%) <\/b>see data and analytics having a critical role in transformation efforts in their organisation.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Deeper value of data still untapped:<\/b> Data derived from business systems is regarded as the <b>most valuable<\/b>, yet when it came to rating their organisation\u2019s <b>ability to maximise the value of its data,<\/b> respondents gave, on average, only a <b>6 out of 10 <\/b>rating.<\/li>\n<\/ul>\n<p><b>Challenges and Obstacles<\/b><\/p>\n<ul>\n<li aria-level=\"1\"><b>Data transmission, analysis, and risk management remain top concerns: <\/b>Almost two-thirds <b>(61%)<\/b> of respondents say they are concerned about data transmission, followed by effective analysis of data<b> (58%)<\/b> and inadequate systems in place to manage risk <b>(58%).<\/b><b>Budget and executive buy-in top barriers to data delivery: <\/b>Budget limitations <b>(46%) <\/b>and securing executive buy-in <b>(28%) <\/b>are the top two barriers to improving data delivery to customers.<\/li>\n<li aria-level=\"1\"><b>Data best practice needs less talk, more action: 50%<\/b> of respondents see data best practice as important or somewhat important to future-proofing business performance. However, <b>15%<\/b> are fearful of change, risk averse, and say change is too risky and would prefer to keep the status quo.<\/li>\n<\/ul>\n<p><b>Opportunities and Next Steps<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Skills, training, and data literacy remain top priorities: <\/b>To improve organisational data strategies, <b>40% of respondents agree <\/b>it\u2019s important for employees to become <b>data literate<\/b> and <b>adopt business intelligence tools as part of their daily workflows.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Businesses want better AI and predictive tools: <\/b>Around two-thirds <b>(60%)<\/b> of businesses want better AI and predictive tools, more accurate data, and real-time analytics.<\/li>\n<\/ul>\n<p>Rohan Persaud, Director of Channels and Alliances APAC at Sisense, says organisations across the APAC region have far too much at stake to not be truly data-driven, and it\u2019s imperative they proactively improve existing AI and predictive tools to reap the benefits of more accurate, real-time analytics.<\/p>\n<p>\u201cGiven the immense challenges caused by rapid market shifts, economic fluctuations, and advancements in technology; data professionals must transition to analytics solutions designed and available for everyone, including their customers,\u201d he says.<\/p>\n<blockquote><p>&#8220;If leveraged properly, data has the ability to unlock immense value and new opportunities that weren\u2019t previously apparent. Yet this report shows while organisations have more data than ever before, they don\u2019t have a clear understanding of how to turn it into actionable insights. In fact, many companies are just sitting on these goldmines, fearing to make a change.&#8221;<\/p><\/blockquote>\n<p>\u201cThey\u2019re missing out on a massive opportunity to use their data to help reduce churn, drive adoption, and boost their bottom line. It\u2019s clear that data and analytics are more than a \u2018nice to have\u2019 \u2013 they\u2019re a \u2018must have\u2019 and should be at the heart of all business decision-making.\u201d<\/p>\n<p>The <i>Sisense Future of Data Analytics Report 2022 &#8211; Asia Pacific Edition<\/i> surveyed 1,047 data professionals in March 2022. Respondents were drawn from a diverse range of industries across a wide geographic cross-section of the APAC region.<\/p>\n<p><b>Study Methodology<\/b><\/p>\n<p>Findings are based on an online survey conducted by Sisense among 1,047 data professionals across the APAC region (Australia 52%, New Zealand 11%, Hong Kong 11%, Singapore 7%, China 7%, Japan 4%, Indonesia 4%, India 2%, other 2%). All respondents (referred to as \u201cAPAC data professionals\u201d, \u201cdata professionals\u201d and \u201crespondents\u201d throughout the report) work at a company with at least 20 employees, have the title of middle manager or higher in either an information technology, marketing\/advertising, sales, regulatory affairs, research and development, or production department and have at least some influence in decisions made for embedding analytics solutions into the delivery of their product or service.<\/p>\n<p>The survey was conducted in March 2022.<\/p>\n<p><b>About Sisense<\/b><\/p>\n<p>Sisense goes beyond traditional business intelligence by providing organizations with the ability to infuse analytics everywhere, embedded in both customer and employee applications and workflows. Sisense customers are breaking through the barriers of analytics adoption by going beyond the dashboard with Sisense Fusion \u2013 the highly customizable, AI-driven analytics cloud platform, that infuses intelligence at the right place and the right time, every time. More than 2,000 global companies rely on Sisense to innovate, disrupt markets and drive meaningful change in the world. Ranked as the No. 1 Business Intelligence company in terms of customer success, Sisense has also been named one of the Forbes\u2019 Cloud 100, The World\u2019s Best Cloud Companies, six years in a row. Visit us at <a href=\"https:\/\/www.sisense.com\/\">www.sisense.com<\/a> and connect with us on <a href=\"https:\/\/www.linkedin.com\/company\/sisense\/\">LinkedIn<\/a>, <a href=\"https:\/\/twitter.com\/Sisense\">Twitter<\/a>, and <a href=\"https:\/\/www.facebook.com\/Sisense\">Facebook<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New Sisense Future of Data Analytics Report 2022 &#8211; Asia Pacific Edition reveals the deeper value of data remains untapped 18 May 2022, SYDNEY: Sisense, the leading AI-driven platform for infusing analytics everywhere, today announced its Future of Data Analytics&#8230;<\/p>\n","protected":false},"author":5,"featured_media":7887,"template":"","meta":{"_acf_changed":false,"_searchwp_excluded":"","_links_to":"","_links_to_target":""},"class_list":["post-7842","press-release","type-press-release","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.5 (Yoast SEO 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