Integrate & Aggregate, Biggest Challenges In Deriving Value From Big Data

By Massita Ahmad SINGAPORE, Oct 18 (Bernama) -- One of the biggest challenges in deriving value from big data in Malaysia is in integrating and aggregating data from numerous sources, says Exponential Interactive Country Manager, Malaysia, Celine Liew. "To accommodate varied data elements is a huge challenge. "With more data being created every day, we see this issue present not only in Malaysia, but also in other markets," said Liew, who is responsible for building Exponential's presence in Malaysia and leading the delivery of the company's brand engagement and brand performance products in the growing Malaysian marketplace. In an email interview with Bernama, she added that Big Data & Analytics (BDA) was a primary driver in the development of Malaysia's Multimedia Super Corridor (MSC) and Digital Malaysia. As of August, Liew said there were 22 multinational BDA companies from six countries established in Malaysia, a clear indication that businesses in the country were slowly realising the value of big data analytics to pilot smarter decisions. Whether Malaysian companies aggressively invest in big data and deploy big data solutions, Liew said that while it is more common for larger companies to channel investments in Big Data, "we are also witnessing an increasing number of start-ups actively innovating and testing cutting-edge technology in the BDA sector." "We also observe that companies in the fast-moving consumer goods and telecommunications industries are beginning to look for data partners when it comes to big data integration. However, with transparency issues such as the inflation of data and the lack of standardisation in data collection and reporting, "this remained a challenge," she said. Liew said Exponential noted that a broad range of sectors, from banking and healthcare to energy and retail, recognised the benefits of becoming more data driven. Apart from the two industries, it was also seeing market demand from car manufacturers, travel & airlines booking services to insurance, fast-food and education segments. "Regardless of sector, brands are now looking to locate the right data that is relevant to their business objectives," Liew said. On what is the digital market landscape like in Malaysia, Liew said Malaysians were well-versed in the use of mobile devices, Internet and social media, and were among the leading consumers in Southeast Asia in terms of volume and intensity of use. Citing a study by 'We Are Social', Liew said there were approximately 20.6 million active Internet users in Malaysia today and 18.0 million of them were active on mobile Internet. Looking at consumption patterns, 68 per cent of the online population spent an average of 4.6 hours surfing the devices every single day. Some of the primary digital activities of Malaysians included social, online advertising, video advertising, search, mobile and e-commerce, she said. --BERNAMA