United Arab Emirates, Dubai: Cloudera, the hybrid data cloud company, has released the findings of a global research report that exposes how a majority of UAE-based businesses are increasingly adopting data-driven strategies for an effective hybrid workforce.
The research revealed that organizations with mature enterprise data strategies in place for at least 12 months are more likely to report higher profit growth at an average of 5.97%, according to the report.
Created in association with technology market research firm, Vanson Bourne, the new report examines the correlation between the maturity of an organization’s enterprise data strategy and its business performance. It also explores the impact of the ongoing Covid-19 pandemic and its uncertainties on businesses.
“This report is an eye-opener and a clear indicator of what organizations need to focus on in a bid to enhance their competitiveness in their respective industries. It is encouraging to see that more SDMs in the region are now looking at data differently and strategically. Organizations in the UAE demonstrate uptake of mature enterprise data strategies, optimized for hybrid and multi-cloud environments. These strategies have, in turn, helped them to significantly generate better business outcomes,” said Karim Azar, Regional Director, Middle East & Turkey, Cloudera.
Hybrid is the future for UAE
At the market level, 88% of UAE-based IT decision-makers (ITDMs) agree that their current strategy is key to their business resiliency. The report also found that 87% of ITDMs in the UAE also agree that having an enterprise data strategy in place can help their organization adopt a hybrid workforce more effectively.
A further 79% of ITDMs believe that their organizations’ technology and infrastructure could be improved in order to meet their existing and/or future data strategy needs. According to the report, 42% of businesses in the UAE, on average, are dedicating time and resources to cloud migration and strategy.
Globally, 96% of SDMs whose organizations’ enterprise data strategies have been in place for more than a year reported that the way data is handled and managed has positively impacted their organizations' performance, and close to two-thirds (64%) reported stronger levels of resiliency from the presence of a mature data strategy. Both SDMs and ITDMs share similar views, recognizing data as a strategic business resource, but these groups have differing opinions on operational processes and implementation.
Driving workforce diversity
In terms of enhancing workforce diversity and its overall impact on organizations, an overwhelming 97% of ITDMs in the UAE believe that data and analytics are important to ensure successful and effective Diversity, Equity, and Inclusion (DEI) initiatives. Eighty-five percent of UAE-based organizations agree that DEI initiatives contribute to an organization’s success. This, according to the report, demonstrates that utilizing data and analytics can yield phenomenal benefits rather than simply increasing profit margins or gaining a competitive advantage in any industry.
On average, 58% percent of the UAE workers worked remotely during the Covid-19 peak period compared to 35% before the pandemic. The trend is, however, expected to stabilize with 46% expected to work remotely by Q1 2023.
Forty-three percent of ITDMs reported that spending had remained the same since the start of the pandemic in terms of supporting changing work environments (e.g. hybrid working) and to support the workforce, with only 14% reporting a decrease in spending.
‘Cloudera Enterprise Data Maturity Research Report’, the market research survey polled 2,100 ITDMs (1oo in the UAE) and 1,050 SDMs (50 in the UAE) in businesses including with more than 1,000 employees across a variety of industries.
At Cloudera, we believe data can make what is impossible today, possible tomorrow. Cloudera taught the world the value of big data, creating an industry and ecosystem powered by the relentless innovation of the open-source community. We empower our customers, leaders in their industries, to transform complex data into clear and actionable insights. Through our hybrid data cloud platform, organizations are able to build their data-driven future by getting data - no matter where it resides - into the hands of those that need it.