DECEMBERASIA BUSINESS OUTLOOK8NEWSROOMEMERGING CYBER THREATS MAKING DATA SECURITY CHALLENGING FOR ASIAN COMPANIESCore consumer inflation in Japan's capital accelerated in November and stayed above the central bank's 2 percent target in a sign of broadening price pressure, data showed on Friday, keeping alive market expectations for a near-term interest rate hike.The yen rose against the dollar after the data, as market players braced for the possibility the Bank of Japan (BOJ) will raise short-term interest rates from the current 0.25 percent at its next policy meeting in December.The Tokyo core consumer price index (CPI), which excludes volatile fresh food costs, rose 2.2 per cent in November from a year earlier, exceeding a median market forecast for a 2.1 per cent gain and accelerating from a 1.8 percent increase in October.Another index that strips away both fresh food and fuel costs, which is closely watched by the BOJ as a better gauge of demand-driven inflation, rose 1.9 per cent in November from a year earlier after a 1.8 per cent increase in October. The data for Tokyo, which is considered a leading indicator of nationwide price trends, showed households hit by rising rent, utility bills and food costs.Service-sector prices rose 0.9 percent in November from a year earlier after a 0.8 percent gain in October, underscoring the BOJ's view that prospects of sustained wage gains are prodding firms to charge more for services. The dollar fell 0.3 percent at 151.125 yen after the data's release. Just over half of economists polled by Reuters expect the BOJ to raise rates again at its Dec. 18-19 meeting. According to a report by Affinidi in partnership with IDC, only 10 percent of businesses in key Asian markets are prepared to transition into experience-orchestrated organizations, a model that enables seamless, personalized engagement across multiple business channels. The report highlights that data collection and management are significant challenges for companies, with 56 percent of businesses citing a growing reluctance among customers to share their data, primarily due to escalating cyber threats.Ian Mutter, CEO of Affinidi, emphasized the urgency for businesses to balance privacy and personalization, noting that "Turning X-O will be pivotal for businesses to stay competitive in today's digital landscape. It is no longer about just acquiring data, but also knowing how best to utilize it to cater to customers' needs and preferences."Looking ahead, the report anticipates that by 2025, 45 percent of Chief Information Officers (CIOs) will prioritize strategic data management to build a data-centric culture, while 40 percent of CIOs will collaborate with Chief Marketing Officers (CMOs) to create unified strategies aimed at eliminating data silos for better customer engagement.However, this focus is expected to shift in the coming years, with hyper-personalization becoming essential for customer acquisition and retention. The transition towards an experience-orchestrated business will require overcoming barriers like data fragmentation and the complexities introduced by differing privacy laws. Glenn Gore emphasized the importance of employing a holistic identity framework to manage customer data securely across platforms while ensuring privacy protection. JAPANESE CORE CONSUMER INFLATION ACCELERATING AT A RAPID PACE
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