The foundation for navigating Asia Pacific’s increasingly data-driven business landscape will revolve around employees’ data literacy and consumer data privacy education, according to Liz Adeniji, regional vice president of Segment, Asia Pacific & Japan at Twilio.
Data literacy
“Data privacy and compliance will become a shared responsibility across departments and teams, as evolving regulatory standards necessitate organisations to constantly balance data-driven strategies with ethical considerations,” says Adeniji.
She adds that employee upskilling and recruitment will involve data literacy. Organisations will become more proactive in consumer data privacy education by providing privacy notices and guides on options to control consumer data.
“Attribution, measurement, and personalisation at scale will become key considerations alongside privacy, consent, and governance. This will fundamentally impact the operations and strategies of many marketers and data practitioners,” the Twilio executive adds.
Common data strategy
In 2024, executing a common data strategy will become a shared responsibility among industry leaders. Organisational dynamics are expected to shift, driven by the emergence of customer data platforms (CDPs), composable CDPs, data clean rooms, and data warehouses.
“This collaborative approach will help foster a more comprehensive perspective of a company and its business practices, facilitating informed decision-making and growth,” Adeniji adds.
Resolution of the data conundrum
To mitigate risks in data privacy, Adeniji expects organisations to explore data minimisation compared to maximisation.
“Amid data breaches and data privacy concerns, we see organisations shifting towards data minimisation to mitigate risks and adhere to privacy standards. However, there is a question on whether gathering only critical data for specific business objectives – instead of accumulating vast quantities of data – will impede the growth and effectiveness of AI-driven strategies,” she adds.
