This research is conducted in order to determine organizations’ status in data-driven implementation and digital disruption readiness.
Research design
Partners: Innovesia, Volantis
Theme: Digital Readiness
Edition: Q2 2020 · Independent Research
Research period: 5 – 31 May 2020
Research method: Online Survey
Respondents criteria: C-level positions, senior managers and business owners
Amount of response: 35
Data & decision making process
80% of companies have their own research team. The figure is much higher for large companies (91%) than their SME counterparts (58%). Other than internal research team, companies also focus on its digital infrastructure, hire external agency, and paid data from other sources.
Among these 4 spending, large companies invest significantly more on digital infrastructure (25.2 billion), followed by external research agency (3.3 billion), internal research team (915.3 million), and other sources (80.6 million).
Amongst SMEs, different picture emerges. Micro and medium companies spend the most on digital infrastructure, whereas small companies spend it on internal research team.
Effective decision-making is the primary objective of using data integration for executives.
Data integration
Additionally, integrated data is especially used by companies that have a research team to analyze, interpret, and deliver data in meaningful ways.
Although data integration is perceived as important, it’s not considered very effective in enabling collaboration within the company, especially for those that don’t have a research team.
Ambitions of data-driven implementation
Most companies (71%) are planning to improve their data-driven implementation, mainly by applying a data-driven mindset, making an integrated/consolidated data, and focusing on its internal development.
Digital technologies and market disruption
Overall, attitude towards digitalization is positive. Of Industry 4.0 trends, executives consider collaborative to be the most disruptive effect, followed by IoT and fintech. However, they don’t perceive these trends to be disruptive enough for their companies.
Most executives are already aware of Industry 4.0 facets. Although big data is commonly used, IoT is considered the most important to their company now. Executives have very positive attitude towards Industry 4.0, mainly because it improves efficiency in marketing, operation, and production, as well as providing more responsive customer service.
On the other hand, the lack of data security is a worry among executives as they see data privacy and increasing digital fraud as the downsides of Industry 4.0 to their business.
In addition, SMEs think Industry 4.0 would increase competition in the market which has a negative effect for them.
Ambitions of digital disruption readiness
Most companies (71%) already have a plan to improve their digital disruption readiness. They’re aware of the shift towards digitalization and currently adopting digital technologies to improve their readiness concerning digital disruption.
