A view of Shaikh Zayed Road in Dubai. Image Credit: File photo

Abu Dhabi: A total of 79 per cent of businesses in the UAE that took part in a data and digitisation report said that data formed a critical part of their growth.

Over 500 businesses took part in the survey carried out by Alteryx, with the report aiming to understand how businesses in the UAE perceive data and analytics as part of their overall business strategy.

Among some of the report’s key findings was that 70 per cent of businesses viewed data as an equivalent to a new currency, with 62 per cent classifying themselves as being in the advanced stages of having data and analytics as a major part of their business. 41 per cent of companies using data for insights said that it led them to increasing productivity as one main benefit.

Other findings also revealed that 42 per cent of businesses viewed data and analytics as having the biggest impact on business today, followed by 36 per cent who said that artificial intelligence and machine learning was having the greatest impact. 33 per cent of businesses viewed blockchain as having the biggest impact.

“There is no doubt that data is key in driving business success in the minds of companies 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 many sources,” said Abboud Ghanem, senior director, Middle East and Africa at Alteryx.

In terms of having the necessary trained analysts, 83 per cent of companies said their investments in data and analytics would be useless without qualified employees who could understand the information. 40 per cent of businesses said they were prioritising a focus on employee data skills, with 41 per cent saying that it was easier to find the talent to do the job.