Singapore ranks amongst the most advanced & competitive IT services markets with high levels of technology adoption. Adoption of newer technologies ranked as very important or important among 73% of Singaporean respondents. More than 95% were looking to invest in newer technologies in the next 12 to 24 months. More than 75% of respondents are looking to have customer intelligence, predictive analytics & sentiment analysis in place in the next 12-24 months.
More than three million people in Singapore use Facebook and more than 900 000 use Twitter. This gives businesses a great opportunity to connect with & better understand their consumer base at a low cost.
Business Analytics has been identified as an important growth sector for Singapore.There are currently more than 100 apps developed using government data by the private sector & community groups. These range from car park availability to clean public toilets. Singapore moved forward with open data initiatives (data.gov.sg), a one stop data portal with more than 8600 data sets from more than 60 public agencies. Singapore provides data sets for crowd source analytics solutions, resulting in rapid prototyping, piloting & developing proof of concept.
Is Singapore an Analytic Hub? Most certainly. Analytics goes hand in hand with high technology. With high technology, data is everywhere and needs to be analysed in almost real time…many apps are being developed each day. Many hand held technologies that provide business insights in real time are becoming the order of the day.
Because of the reams of high speed data being generated from technology apps, decisions can only be made through measuring and analysing this data. It is absolutley essential to use this data in business decisions and for business growth.
There is a shortage of business analytics talent, to narrow the gap, software vendors are collaborating with academic institutions to develop curriculum that reflects the mix of technical & problem solving skills that is necessary to prepare students for business analytics careers. If you need more information on business analytics and the topics covered in the different business courses, do not hesitate to contact me.