Covering Disruptive Technology Powering Business in The Digital Age

Traditional and slower methods of data compilation would soon become obsolete and ASEAN must be prepared to move towards a world of multiple sources of information offering split-second updates and analyses.

“The issue of data integrity, protection of confidential information and competitive advantage among nations, businesses and individuals would be the new topics dominating trade talks,” said Malaysia’s Minister in the Prime Minister’s Department Datuk Seri Abdul Wahid Omar

“In an age of real-time information, Big Data, a transformational tool in producing official statistics in a timely and cost-effective manner, and the Internet of Things, statistics would be the new currency in doing businesses,” he added.

Speaking at the Fifth Session of ASEAN Community Statistical System Committee’s (ACSS) in Cyberjaya recently, Wahid noted that the narrowing of statistical development gaps would spur wider use of quality data for evidence-based policy and decision making in ASEAN.

“An efficient information management and accurate data analyses would help Malaysia keep track of our performance and effectiveness as we are currently implementing a comprehensive national economic transformation programme.

According to Wahid, Malaysia has and will continue to support the ASEAN Community Statistical System Committee’s (ACSS) statistical capacity building by narrowing the statistical development gaps among member states.

This would be done in several areas such as international merchandise trade statistics, trade in services statistics and international investment position statistics.

On current and future challenges for ACSS, Abdul Wahid said the Sustainable Development Goals (SDGs) would be an important agenda and would be further deliberated on by ACSS.

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