Demand for Data and Analytics expertise at three-year high, according to new SnapLogic report
SnapLogic, the leader in generative integration, has released its “State of Data and Analytics Australia and New Zealand 2023” report in partnership with Corinium, exploring the current challenges, opportunities and emerging trends as AI continues to transform the business landscape.
Key Insights:
- High Demand for Expertise: 86% of respondents reported a notable increase in the demand for data and analytics expertise, indicating a sustained need for skilled professionals in the field.
- AI Reshaping the Landscape: AI emerges as a transformative force, with 89% of data leaders expecting a reduction in full-time hours within their organisations due to AI adoption. An overwhelming 90% believe that AI will drive the single greatest change in their data strategy over the next three to five years.
- Collaboration with Cybersecurity: 98% of participants underscored the importance of closer collaboration between data leaders and cybersecurity teams, emphasising the need to safeguard data in an increasingly digital landscape.
- CEO Alignment: Only 6% of respondents report to their organisation’s CEO, highlighting the limited direct connection between data and analytics leaders and top-level executives.
- Cloud Data Warehouses on the Rise: The report reveals that 92% of respondents are utilising cloud data warehouses across multiple business functions, reflecting a growing reliance on cloud infrastructure for data management.
Digital Transformation Full Speed Ahead for ANZ Organisations
Brad Drysdale, Principal Solutions Engineer at SnapLogic, said the report sheds a positive light on ANZ businesses and their digital transformation journeys. “The survey results not only demonstrate that organisations across the region are investing in data-driven initiatives to power the customer experience, but they’re also setting themselves up to support that with 92 per cent using cloud data warehouses, which is great to see.
“They’re also starting to look down the barrel to the fact that AI, particularly generative AI, is playing a more important role in their organisations, purely as a way to deal with the volume of data that’s coming in.”
Security and Privacy Top of Mind
Drysdale shares that security and privacy are especially top of mind for organisations given recent data breaches, with nearly all (98%) agreeing there’s a need for greater collaboration between data leaders and cybersecurity teams.
“Underlying that number is the fact that people are scared to inherently trust the data when it makes decisions for the business. They are concerned about the risk associated with using a higher volume of data that’s closer to the customer, meaning customers’ personal data and what that means from a privacy perspective,” he says.
“If you look at the key findings, 6 per cent of respondents report to their organisation’s CEO, and 98 per cent agree there’s a security, trust and privacy elephant in the room. It seems logical to assume that issues such as brand erosion, risk and the financial implications of security and privacy concerns should squarely fall within the CEO’s purview.
“There is a concern here that the people who are entrusted with using data to drive the business forward and with the privacy, security and trust associated with it don’t have the ear of the CEO directly. The 6 per cent finding, although not unexpected, serves as a warning. CEOs must be more invested in the ownership of data-related matters. I think when that 6 per cent goes up, that 98 per cent security concern will drop.”
Unlocking Competitive Advantage with Intelligent Generative Integration
SnapLogic CTO Jeremiah Stone said, “Strong data infrastructure and integration solutions are critical capabilities if organisations wish to gain competitive advantage through being data-driven and through automation and analytics.
“Organisations that are able to create a sustainable effort with data drive more impact and results through process and infrastructure, which are well-governed and managed and which provide detailed usage information to ensure that efforts are well directed and adopted.”
The State of Data and Analytics Australian and New Zealand 2023 report, now in its third consecutive year, provides in-depth insights and analysis into the evolving data landscape. To access the complete findings and recommendations, watch the webinar or download the full report here.
