Singapore trails Australia as APAC's most data-ready market

Australia beat the city in terms of people organisation, process, and technology.

Singapore is the second most data-ready market in the Asia Pacific region behind Australia, according to a study by analytics platform Tableau and global market intelligence firm International Data Corporation (IDC).

The study classified markets across five dimensions, namely people (organisation), people (skills), process, technology, and governance.

Scoring an average of 3.52 in the Data Readiness Index (DRI), the Lion City has the highest number of organisations in the leading band (52%) and leads in people skills (4.2 points) and governance (2.4 points) categories.

The findings suggest that Singapore should adopt an integrated model for data governance to take their data-readiness to the next level, the report noted.

For the whole APAC region, more than 700 companies were tested for data-readiness and were placed under three bands: leading, developing, and lagging. Data-ready companies contributed to 90% of better business outcomes than laggards. However, only 20% were in the leading band with 66% in the developing and 14% in the lagging bands.

Australia lead APAC countries on the DRI scale with an average score of 3.54. It was the highest in people (organisation) at 4.4, process at 4.1 and technology at 2.9, and second (49.5%) to Singapore in terms of organisations in the leading band. Japan came in at third on the DRI at 2.74.

India lagged the DRI with a score of 2.51, having the most organisations in the lagging band (30%).

Photo courtesy of Pexels.com.

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