Australian data leaders optimistic and plan to increase investments in 2023

Richard Scott, Managing Director, ANZ and Group Vice President for Asia Pacific at Informatica

Informatica, an enterprise cloud data management firm, released the results of its third annual global chief data officer (CDO) survey CDO Insights 2023: How to Empower Data-Led Business Resiliency. The survey examined 600 chief data officers and chief analytics officers across the U.S., Europe and APAC and revealed that, despite economic uncertainty, most firms are increasing their investments in data management and cloud in 2023.

What were the findings of Informatica’s survey?

Australia was among seven Asia Pacific markets included in the CDO survey, which also covered China, India, Japan, Korea, Malaysia and Singapore. Key survey findings were:

Aussie firms increasing investment in data management in 2023

The research by Informatica found that despite current macroeconomic factors, many Australian organisations are increasing their investment in data management in 2023.

60% of Australian data executives expect to increase their data management investment, and 70% of them predict to increase cloud spending. While 28% of Australian organisations are investing more in capabilities to ensure data privacy and security, the bigger focus is on democratising and sharing data through a self-service marketplace (40%). Improving governance over data and data processes is a top priority for Australian companies (43%).

Data fragmentation and lack of cooperation remain an issue

According to the research findings, 40% of Australian data leaders say that a lack of support from business leadership is a main obstacle to implementing their organisation’s data strategy, compared to around 30% of organisations across APJ, Europe and the US.

Over half of the Australian data leaders surveyed (55%) are managing more than 1,000 data sources, and many are unable to scale data delivery when and where needed (21%). 68% of organisations currently contribute less than 20% to the data management budget. 42% will use five or more separate tools to support data management priorities in 2023.

What were Informatica’s thoughts on the survey?

“Our 2023 study shows that Australian leaders are focused on empowering their users with data to improve customer experience and are prioritising the adoption of tech that will drive their data strategy to improve business resilience and agility,” commented Richard Scott, Managing Director, ANZ and Group Vice President for Asia Pacific at Informatica.

“In today’s complex multi-cloud environment and ever-evolving markets, firms will invest in data management solutions that support and align to their organisational strategy, driving clear business outcomes from their IT investments to enable success in 2023 and beyond.”

To recognise data-driven leaders who have a profound impact on their company’s data-led transformation, fostering innovation and empowering their firms to bring data to life, Informatica announced the 2022 global Informatica CDO Awards winners in tandem with the annual CDO study. These include the Bank of New Zealand and La Trobe University.

Looking ahead, data leaders across Australia and the broader Asia Pacific and Japan region are looking to change and adapt quickly as data strategies evolve rapidly, exploring new trends such as data observability, applied AI and data mesh/data fabric – bringing strategies and tools together to achieve business priorities and measurable outcomes.