February 24, 2024

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Big Data Key for Achieving Malaysia’s Digital Economy Aspirations

Big Data for Malaysia Digital Economy

Malaysia still faces challenges in implementing big data strategies as a result of fast-changing technology in the development of digital infrastructure, including data centres, according to the Shared Prosperity Vision 2030 (WKB2030).

The vision launched by Prime Minister emphasised the need to put together big data would also require heavy investments and close cooperation between the government and industries.  In addition to this, there is a need for expertise in the field of data analysis to support this initiative. At the same time, awareness to use data wisely and effectively are important factors in ensuring data secrecy and to ease delivery methods and help make effective decisions.

Big data is among the main factors that contribute to changes in the way decisions and business transactions are made. The use of big data and technological availability, according to the document, has led to innovation growth, a boost in the quality of delivery, and added value to industries.

This element is key in ensuring the implementation of the digital economy is realised in line with current global trends for the country’s economic growth. It further stated that there are five proposed strategies to implement big data, including reviewing existing legislation and introduce policies for a holistic digital ecosystem.

Besides this, there are also proposals for a new business model to be introduced to develop sustainable digital infrastructure, including data centres as well as modules for advanced skills and workers skills retraining in industrial institutes and within the industries themselves.

How Malaysia is Nurturing Data Analytics Talent

  • According to another report, global revenues for big data and business analytics will surpass US$210 billion in 2020, amid a 20,000-fold leap in data volumes between 2000 and 2020.
  • MDEC’s data economy director has said on several occasions that big data will bring benefits such as better efficiency and productivity for Malaysia.
  • With the vision of becoming a high-income, knowledge-based society by 2020, MDEC has spearheaded many ICT initiatives with a special focus on the data economy that will serve as the foundation for artificial intelligence (AI) initiatives.
  • Besides promoting continuous learning as a vital aspect of Malaysia’s digital culture, MDEC has spearheaded talent programmes to increase the number of data specialists in Malaysia from about 4,000 to 16,000, as well as the number of data scientists from 100 to 1,500, by 2020.
  • Private-public collaboration remains a cornerstone of Malaysia’s strategy to grow the country’s data analytics talent pool.
  • This includes facilitating curriculum reviews by industry and partnering universities to offer data science courses at undergraduate and postgraduate levels.
  • In a 2018 report, Malaysia’s progress was lauded for initiatives such as the ASEAN Data Analytics Exchange (Adax), a regional platform that brings together talent and development models and showcases the latest analytics technologies.
  • Since its inception in 2017, Adax has helped to train 1,800 people from 298 companies across 19 industries as data practitioners, data managers and data leaders.
  • With the initiatives currently in progress, many organisations, both on the demand and supply sides of the big data analytics and AI ecosystems have benefited in terms of investment, talent, advice and funding

The Need for Big Data in Malaysia

In an exclusive interview with the CTO of MIMOS, Thillai Raj, OpenGov Asia reported that for a country like Malaysia, with a population of about 35 million people spread over a vast geographical area, Big Data Analytics is critical to the delivery of efficient citizen services.

By analysing and harnessing vast amounts of data generated by people’s daily activities, MIMOS has been able to map public health patterns, enhance safety and smoothen travellers’ journeys.

Big Data is transforming the Malaysian government’s service delivery in new and powerful ways.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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