The survey found that respondents see an urgency in fostering a culture of analytics to achieve digital business transformation
Majority of UAE businesses agree that data is a key driver for growth and that investment in data and analytics would be useless without employing people who understand it.
Data insights are seen as key to delivering better customer experiences through deeper relationships and helping to propel businesses to new heights. While 79 percent of UAE businesses agree that data is a key driver for growth, 83 percent said that their investment in data and analytics would be useless without people who understand it, Alteryx, which surveyed 500 UAE companies, said in a report.
According to the report, 62 percent of UAE businesses said that they are in advanced stages of their analytical journey, while 70 percent said that data has become so valuable that it is equivalent to a new currency.
While 41 percent said that it is easier now to access the needed talent, almost 32 percent have a team of dedicated data scientists for all their analytics work.
Abboud Ghanem, Senior Director - Middle East and Africa at Alteryx, commented: “There is no doubt that data is key in driving business success in the minds of businesses across the UAE.”
“Every data worker, regardless of technical acumen, wants to be able to easily find and understand what information is at their disposal; have the flexibility to prep, blend, enhance and analyse data from more sources; and easily operationalize analytic models through a collaborative and governed platform,” he added.
The survey also found that respondents see an urgency in fostering a culture of analytics to achieve digital business transformation. 35 percent of UAE businesses said that a culture of data and analytics will be the biggest game-changer for analytic success, while 70 percent said that data progression is key to career progression.
Alan Jacobson, chief data and analytics officer at Alteryx, said: “The business case for analytics has truly been acknowledged. While many are still balancing data inefficiencies with the challenge of a shortage of skilled data workers, this latest research from Alteryx underscores that investing in data and analytics technology alone won’t deliver real business-altering results.”
“In order to digitally transform an organization, a smart approach to delivering the right culture that can embrace the change is equally if not more important in achieving success,” Jacobson added.
The survey identified three top technology enablers that have significant impact on businesses today: data and analytics (42 percent), artificial intelligence/machine learning (36 percent) and blockchain (33 percent).
The biggest technology game-changers within the next 5 years are self-service analytics (31 percent), augmented data discovery (27 percent) and explainable AI (27 percent).
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