SnapLogic has released its State of Data and Analytics Australia and New Zealand 2023 Report, unveiling noteworthy trends in the business landscape. The report, developed in collaboration with Corinium, reveals high demand for data and analytics expertise, the transformative role of Artificial Intelligence (AI), and the significance of cybersecurity in data strategies.
The survey found that a staggering 86% of respondents noted a remarkable increase in demand for experience in data and analytics. This points towards a persistent need for skilled professionals specialising in this field. The survey also highlighted that AI is reshaping the industry paradigm, with 89% of data leaders expecting a reduction in full-time hours within their organisations as a result of AI adoption. Furthermore, an impressive 90% believe that AI will bring significant changes to their data strategy over the next three to five years.
The necessity of effective collaboration between data leaders and cybersecurity teams was underscored by 98% of participants, indicating the growing awareness of data security in an increasingly digital environment. Only 6% of respondents reported directly to their organisations' CEOs. The report suggests this lack of a direct connection between data and analytics leaders and top-level executives could be problematic. A significant majority, 92% of respondents, are employing cloud data warehouses for various business functions, illustrating an increasing reliance on cloud infrastructure for data management.
Brad Drysdale, Principal Solutions Engineer at SnapLogic, revealed that the survey's results painted a positive portrait of ANZ businesses progressing in their digital transformation initiatives. Drysdale said, "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."
Drysdale further highlighted that nearly all of the surveyed organisations (98%) identified the crucial need for cooperation between data leaders and cybersecurity teams in the light of recent data breaches. He said, "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."
Jeremiah Stone, CTO of SnapLogic, also emphasised the importance of robust data infrastructure and integration solutions for organisations seeking to gain a competitive edge through data-driven processes, automation, and analytics. Stone said, "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."
This report marks the third consecutive year of the State of Data and Analytics Australia and New Zealand report and offers comprehensive insights and analysis into the evolving data landscape.