Study involved 800 key decision-makers from diverse industries across eight markets in Asia and the Middle East
Singapore, 8 September 2020 – A recent study commissioned by global defence, technology and engineering group ST Engineering has revealed that even as organisations across the region recognise the value of data and are looking to data analytics as a means to better understand, engage and improve citizens’ and/or customers’ experiences, their ability to interpret and collaborate over data is lacking due to a weak data culture in their organisations. The study also showed that while organisations are strong in building data strategy, they are increasingly overwhelmed by growing data complexity, and have inadequate capabilities and structures in place to transform data into actionable insights that drive optimal decisions.
In the past decade, technology advancement has generated huge volumes of data, and this is set to grow exponentially and with increasing complexity as cities become smarter. Named the Sensemaking Maturity Index (SMI), ST Engineering’s inaugural study on organisational analytics and sensemaking maturity, priorities and challenges, tracks data and customer analytics readiness across the areas of technology, strategy, culture and security, to offer insights on how data maturity can be accelerated.
800 key decision-makers from the government, security and emergency, transportation, utilities, city planning, healthcare and banking sectors across eight markets in Asia and the Middle East, took part in the study conducted by Forrester Consulting on behalf of
ST Engineering from March to May this year.
Key Findings of the Sensemaking Maturity Index
Commenting on the study’s findings, Chew Men Leong, Chief Marketing Officer of ST Engineering said, “Data is one of the biggest opportunities, yet paradoxically, it remains a key challenge for many organisations. With the rise in advanced, smart technologies and accelerated digitalisation due to the COVID-19 pandemic, the world is experiencing a data explosion. There is much untapped potential in transforming data into timely and actionable insights that can accelerate innovation efforts towards improving customer and citizen-centric outcomes, to unlock new growth opportunities. The ability to master and leverage data analytics will be a game-changer for organisations.”
The Technology Partner as Enabler
Building data visibility, agility and security could bridge and close the gaps in weak data culture. Robust platforms and practices can enable seamless data integration and holistic management to develop an action plan and achieve the desired outcomes with accuracy, scalability and digital trust. A technology partner can play a key role in enabling such data management, to provide the necessary engineering expertise and predictive analytics solutions to help organisations build their data analytics capabilities. In fact, the study showed that 64% of the leaders surveyed believe that efficient data collation and analysis, especially at the edge, require relationships with the right technology partners.
“Organisations need to have clarity of purpose to turn insights into meaningful experiences and actions. It is vital to galvanise collaboration to empower effective data analytics adoption, and transit from strategy and planning to execution. Beyond that, they need to ensure that data is embedded in their organisation’s structural fabric, and is seamlessly connected so that the right data reaches the right people for sharper and faster decision-making. This is where technology partners like ST Engineering can play a strategic role to bridge the execution gap, and help organisations make better sense of their data to drive business value, differentiation and accelerate speed to market,” said Ravinder Singh, President of ST Engineering’s Electronics sector.
Sensemaking Global Marathon Summit
ST Engineering will share more insights on the Sensemaking Maturity Index and developing a thriving data culture at its inaugural Sensemaking Global Marathon Summit from 10 September, 1pm (GMT+8) till 11 September, 2.30am (GMT+8). Titled “Sensemaking: Humanify Tech to Thrive”, the 13-hour virtual summit features experts from ST Engineering and its global businesses, as well as from industry. To find out more and to register, please visit: https://agilblog.com/global-marathon-summit/.
ST Engineering is a global technology, defence and engineering group specialising in the aerospace, electronics, land systems and marine sectors. The Group employs about 23,000 people across offices in Asia, Europe, the Middle East and the U.S., serving customers in the defence, government and commercial segments in more than 100 countries. With more than 700 smart city projects across 130 cities in its track record, the Group continues to help transform cities through its suite of Smart Mobility, Smart Security and Smart Environment solutions. Headquartered in Singapore, ST Engineering reported revenue of $7.9b in FY2019 and it ranks among the largest companies listed on the Singapore Exchange. It is a component stock of the FTSE Straits Times Index, MSCI Singapore, iEdge SG ESG Transparency Index and iEdge SG ESG Leaders Index. For more information, please visit www.stengg.com.
AVP, Corporate Communications
Tel: (65) 6722 1690
Note to Editor:
The Sensemaking Maturity Index Opportunity Snapshot is available on request via the media contact.
 Sensemaking is defined as the orchestration of data from sensors, systems, platforms, processes and people to sense, connect and make sense of - to provide clarity with meaningful, purposeful line-of-sights, insights and foresights - to enable fast, sharp decisions or outcomes and experiences.