- The majority of Thai firms are grappling with data dispersion ss Data has now become a nuisance.
Thai firms must develop a data culture and fluency, engage in data science, and accept multi-channel adoption in order to improve their data monetization capability and performance, according to Dell Technologies, as the majority of Thai firms are battling with data diffusion.
The Digital Transformation Index of 2020, which measured global company digital performance levels states that data saturation and failure to gain perspective from data was ranked third globally as a barrier to entry and growth. Currently, 12% of Thai companies, compared to 21% internationally, see data as assets and prioritize its usage throughout the organization.
From the perspective of data preparedness, 73% of Thai firms are classified as data amateurs, as those who are overloaded by the volume of data and the complexity required. Handling large amounts of data requires appropriate skills, culture, and technological infrastructure and since the quantity of data they’ve collected, stored, and analyzed has skyrocketed in the aftermath of the epidemic, the pressure has increased.
Data became a nuisance rather than a competitive edge owing to a variety of hurdles including a data gap, silos, tedious procedures, business divisions, etc. Organizations must rely on end-to-end cloud services that can break down data silos and enable significant analysis. They require real-time data to forecast future outcomes.