75% organizations’ ability to react to market volatility negatively affected, IDC

In the Worldwide Data and Content Technologies 2023 Predictions – APEJ Implications report, IDC predicts that By 2024, inability to perform cross-functional and integrated scenario planning and forecasting aided by machine learning will negatively affect 75% of Asia-based 2000 organizations (A2000) ability to react to market volatility.

“The biggest challenge for businesses in 2023 is maintaining a competitive edge amidst inflationary pressures, and focusing more on maximizing returns on existing technology investments and Digital Transformation Initiatives. Data continues to be a key value driver for business and data democratization will be key to successful planning and forecasting for most organizations, in this volatile market scenario,” according to Deepika Giri, Head of Research, Big Data &AI, IDC Asia/Pacific including Japan (APJ) Research.

This IDC study presents the top 10 predictions and key drivers for Data and Content Technologies for the next five years in Asia/Pacific excluding Japan (APEJ). It highlights the midterm and long-term challenges that enterprise IT teams face as they define, build, and govern the data and content technologies required to thrive in a digital-first world:

#1: Citizen Science: By 2025, broad use of AI-infused analytics will lead 33% of Asia-based 2000 (A2000) organizations to connect data intelligence, decision ops, and data literacy initiatives to counter cognitive biases and probabilistic analytics risks.

#2: Planning and Predicting: By 2024, inability to perform cross-functional and integrated scenario planning and forecasting aided by machine learning will negatively affect 75% of A2000’s ability to react to market volatility.

#3: Headless and Embedded: By 2025, to promote data-informed decision making, 50% of A2000 (from 33% in 2022) will embed analytics in enterprise or productivity apps, boosting demand for data-savvy application developers.

#4: Chiefs in Charge: By 2025, growth in data marketplaces, data privacy regulations, and data sovereignty concerns will lead 50% of A2000 to include CDOs, along with CISOs and CLOs, on data risk management committees.

#5: Knowledge Networks: By 2026, entrenched hybrid work models and high labor turnover rates will drive 40% of A2000 to invest in knowledge networks for knowledge retention, curation, and sharing from unstructured content.

#6: Chaos and Computing: By 2026, 25% of A2000 will have benefitted from investments in performance-intensive computing that address data chaos of the ever more digitized world, leading to suboptimal return on data assets.

#7: Migration Miracle: By 2027, redundant deployments of data warehouses and lakes will challenge ROI at over 60% of A2000 attempting data and content unification initiatives and lead to investments in data federation.

#8: Feedback Failure: By 2027, 10% of A2000 will have implemented systematic data-to-action feedback loops, resulting in superior return on data and content capture and analysis investments compared to their peers.

#9: Space and Time: By 2028, the most data-savvy 20% of A2000 will have used spatio-temporal data processing to enable complex n-dimensional use cases and drive demand for telematic analytics expertise.

#10: Data Valuation: By 2028, 45% of the value of the Asia/Pacific and Japan economy will be in the form of high-information-density goods and services, driving demand for ever-growing computational capacity to maintain growth.

CT Bureau