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The ASEAN Data Analytics eXchange (ADAX) will be a one-stop hub for Big Data Analytics initiatives ecosystem for creating solutions in adopting BDA, shared by Dr Karl of the Malaysia Digital Economy Corporation (MDEC) during the Big Data Analytics Conference 2016, Applying Data Analytics For Business Strategies. The conference was hosted by the Malaysian Institute of Accountants at The Vertical, Bangsar South in KL.

“Big Data is a powerful competitive weapon when it comes to tools that an enterprise can use in business. Through Customer Analytics for instance, research shows by adopting Big Data into their business, there is an increase in customer acquisition, an increase in revenue per customer as well as improved existing products”, he said.

Retail stores are also able to boost their customer relationship and store revenue through Retail Analytics. Understanding the clients store performance by adding insights from their walk-by traffic, visitor traffic, capture rates, average visit duration and customer retention will give the marketing department extensive data on how to improve and design store displays to better suit the client.

He added that pharmaceutical companies could also highly benefit from advanced data analytics. “The analytics gives excellent visibility on the sales performance and client behaviour patterns with real-time information and updates that will help the company keep abreast and agile”.

“A recent survey conducted on ‘Smarter Commerce Stats and Facts’ by IBM showed that 80% of CEO’s believed that they delivered a superior customer experience, whereas only 8% of their customers agree to that. Businesses are being turned on their heads by the “Empowered Customer” and therefore need to deal with this situation or be left out to dry”.

Dr Karl of MDEC and Stan Lee of PIKOM as panelists at the conference 

He says that MDEC are at the forefront to transform Malaysia’s economy to a digital economy through adopting Big Data Analytics. He added that Malaysia is positioned to be the hub in regional BDA solutions and deliver new values to all sectors.

“There is a need for cross sector collaborations between the private and public sectors to create a national BDA ecosystem that will enable the proliferation of the use of BDA as a catalyst for further economic growth. By this implementation, we will be able to increase productivity, promote growth in the ICT industry, allow for government savings, create more benefits for the Rakyat and be a catalyst for game changing innovations nation wide”.

To achieve this, the talent infrastructure in the country needs to be further enhanced. The urgent need for Data Scientists has driven MDEC to finding innovative ways to fill this gap in talent. They are working with 3 educational bodies to assist in achieving their target of 20,000 Data professionals and 2,000 Data Scientists by the year 2020.

The first, Coursera, is a broad based certification programme with the highest single batch sign-up for Data MOOC globally and a passing rate of 40% compared to 9% globally. The 2^nd is The Center of Applied Data Science (TheCADS) that runs an intensive 8 week crash course called ‘Enterprise Scientist Bootcamp’ that’s based on Cornell University’s The Data Incubator fellowship programme. The 3^rd is The Harvard Business School Executive Programme in educating C-level business analytics and Big Data workshops.This workshop will be the first one ever outside of the United States.

“The ADAX hub is where all the resources come together in showcasing the talent development and data sandboxing where not only MNC’s can share their use cases to assist startups, but where startups can use the talents provided by ADAX. The ADAX can also be used as a co-location for startups to run their operations from. All services rendered by ADAX is free of charge”, he added.

The ADAX office is on schedule to be ready by December 2016 and officially launched in January 2017 for public use.

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