Big data holds the power to fuel transformational growth, yet, as a World Economic Forum report on ‘Data-Driven Development’ observes, we live in a ‘fog of data ignorance.’
Today, advanced analytics is being used by organisations to inform strategic decision-making and steer their business into new levels of enhanced productivity and efficiency. It’s also being used to improve consumer experience, leading to higher satisfaction and brand loyalty in the long-term. Just think of ridehailing apps like Careem and Uber, or food delivery apps like Deliveroo and UberEATS – by using real-time data analytics, they are able to anticipate their customers’ likes and preferences and stay one step ahead of the game.
The challenge in data management
Yet, when it comes to understanding the complexities of data management, there has been very little concerted action on it. Latching on the cloud bandwagon or having ‘data analytics’ as an add-on function brings little value unless the data at your command is extrapolated and used effectively.
And that is a challenge that many organisations in the UAE face. Our Value of Data study earlier this year identified that organisations in the UAE are losing an average of $2.1 million every year due to challenges in day-to-day data management, in addition to a loss of more than one hour daily in trying to locate data.
Building further on the study, our 2019 Middle East Databerg Study surveyed 100 IT leaders across multiple sectors and job roles in the UAE, to dig deeper into how they manage data and its impact on their overall business strategy.
Rise of ‘databergs’
This story is from the March 2020 edition of Security Advisor Middle East.
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This story is from the March 2020 edition of Security Advisor Middle East.
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