Competitiveness issue on smart data management – Microsoft Hungary
Digital futures indexan index based on an analysis of existing factual data from existing research on the region of the Central and Eastern European countries in the main processes of digital transformation. According to one of the main findings, the contribution of the ICT sector to the GDP of the national economy contributed significantly to the average of the region. The index, which provides an overview of digital digitalisation and development trends, contains Hungary’s competitiveness and was compiled with the help of Microsoft Power BI. Microsoft was the first country in the region to present the results to the press in Hungary.
According to the Digital Futures Index, Hungary’s two main strengths are to be found in the large and already competitive digital sector and advanced digital infrastructure, which is already above the regional average. One of the main examples of this is that the Hungarian ICT sector received slightly more points in the Microsoft Digital Futures Index than in Sweden, which is at the forefront of digitization, based on its contribution to GDP. However, based on its overall assessment of digital development, Hungary is at the level of the regional average.
IDC predicts that the amount of data in the world will rise to 175 zeta bytes by 2025 – if we stored that much data on BluRay discs, it would reach the moon 23 times! The importance and value of data ahead of us will continue to grow, as we have more opportunities than ever before to analyze data, structured solutions and advanced digital data analysis systems through state-of-the-art technology.
The Digital Futures Index is nothing more than an indicator of the competitiveness of the digital economy. Among others, the latest available statistics from the OECD, Eurostat, Euromonitor, and the World Bank, as well as the results of other surveys considered widely relevant, were compared by Microsoft regional experts with state-of-the-art data analysis technologies: a total of 55 different parameters were fed to Power BI. data analysis application. Microsoft’s data analysts in Central and Eastern Europe used this extensive database to measure the development of businesses, the job market, digital public services and infrastructure, and the size of the digital sector, and compared the rest of the region and the number of European countries at the forefront of digital transformation. The result is a highly visible interactive platform that can be seen visually, from which Hungary’s future opportunities and development trajectory are outlined.
“The Digital Futures Index is also useful because it provides concrete figures to show the links between competitiveness, agility, talent retention and digital maturity. State-of-the-art technology offers more opportunities than ever before to store data generated in economic life in a structured and logical way and to analyze it in a way that we did not have the opportunity to do a few years ago. Data analysis offers extraordinary opportunities in various sectors of the economy, in government work, and in public services, and this is no longer a utopia, but a capability available to most organizations.”Christopher Mattheisen, Managing Director of Microsoft Hungary, pointed out the importance of a new approach to data analysis.
A structured, well-weighted analysis of the data shows that Hungary benefits from the size of the digital economy and the development of its infrastructure, and by the end of the decade it may indeed be one of the 10 strongest digital economies in Europe, as stated in many economic policy programs. But to achieve this, economic actors need to devote more resources than at present to the renewal and application of technology, especially the transition to cloud technology, the training of the workforce and the further digitization of public services, as it stimulates change and strengthens the digital skills of the population. According to the Digital Futures Index, more companies in Finland invest more in ICT, cloud AI and IoT technologies, resulting in more than one and a half times as many (167) points in the Index as in Hungary (99). And IT training is widespread among Estonian companies, so the responsibility is great, because the skilled workforce is able to make the most of the available technologies.
“In order for technology to truly permeate and increase competitiveness, a change in culture is also needed. Hybrid work, for example, is now a requirement that presupposes a technological readiness, but also that teamwork works well, and managers trust their employees and train them continuously. Young talent is looking for these jobs today”Said Gabriella Csanak about the results of the Digital Futures Index.
The main point of the index is that it is very important for the speed of the digital transformation: the question today is not in the least whether the economy is digitizing, at most, at what speed. The process is also accelerating in the Central and Eastern European region.
The Digital Futures Index Power BI platform is available at this link.