Asia-Pacific businesses are more mature than companies in other regions when it comes to data analytics, according to Gartner research.
Some 48 percent of organisations in the APAC region reported their data and analytics maturity were in the top two levels of Gartner’s maturity model.
These levels are “transformational”, where data and analytics are central to a company’s business strategy, and “differentiating”, where data and analytics are at least championed by executives.
In comparison, 44 percent of North American businesses were at these levels of maturity while the Europe, Middle East and Africa (EMEA) region came at a distant third with 30 percent.
"Most organisations should be doing better with data and analytics, given the potential benefits," Gartner research vice president Nick Heudecker said.
"Organisations at transformational levels of maturity enjoy increased agility, better integration with partners and suppliers, and easier use of advanced predictive and prescriptive forms of analytics. This all translates to competitive advantage and differentiation."
Gartner used five levels to measure an organisation’s maturity levels for data and analytics, with only nine percent of those surveyed achieving the top maturity level of “transformational.”
Meanwhile, 60 percent of respondents were rated at the bottom three levels of “basic”, “opportunistic”, and “systematic”.
"Don't assume that acquiring new technology is essential to reach transformational levels of maturity in data and analytics," Heudecker said.
"First, focus on improving how people and processes are coordinated inside the organisation, and then look at how you enhance your practices with external partners."
The survey found that the most common business problem addressed with data and analytics was to improve process efficiency, followed by enhancing customer experience and then development of new products.
A number of barriers prevent many organisations from increasing their use of data and analytics. The three most common are defining data and analytics strategy; determining how to get value from projects; and solving risk and governance issues.
"These barriers are consistent with what Gartner hears from client organisations who are at maturity levels two and three," Gartner research vice president Jim Hare said.
"As organisational maturity improves to enterprise level and beyond, organisational and funding issues tend to rise."