With organizations having recognized and placing greater value on cloud, technology is increasingly becoming an integral part of their strategy. Overall cloud spending has also been projected to reach US$200 billion in Asia by 2024, with Singapore amongst the top three markets in the APAC region and having the largest overall IT spend across applications, platforms, infrastructure and services.
For organizations, the cloud is not simply an infrastructure but an enabler. One key benefit cloud has brought to organizations is the ability to utilize hundreds of native services developed by companies like Microsoft Azure and accelerate the capabilities that organizations are providing to their customers. As we shift from the Covid-19 pandemic to an endemic stage, business demand recovery will be unpredictable and uneven across customer segments, geographies, products, and categories.
For most organizations, completely rebuilt analytical models and new data in the cloud will be essential in steering their operational decisions. In their recovery efforts, organizations should ensure that they selectively modernize their technology capabilities and use enhanced data modelling techniques to manage their digital assets, for example, changing the modelling approach from dimensional to data vault, and thus, forecast demand successfully.