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Tuesday, April 25th, 2017

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Big Data is more than merely analyzing it; its what you do with the results

Big Data is more than merely analyzing it; its what you do with the results

For businesses looking to hire a data scientist, rather than looking for an individual who had the requisite skills, it would be easier to look for individuals each possessing some of the skills needed and who could be integrated into a team said Oyvind Roti, International Head Solutions, Google Cloud Platform.

Roti was speaking at Agoda Outside, a new undertaking from Agoda that focuses on ideas, research, exchanging information, philanthropy, and outreach. The event aimed to help attendees understand how big data is changing the way people travel and how companies work with big data, and how to use it better.

And it was the use of Big Data that panelists spoke about. As Yaron Zeidman, CTO of Agoda, put it, “Big Data is not only about the data, it’s about what you’re doing with it.”

Dr Andreas Weigend, Director at Social Data Lab, said that data didn’t have to be a cost to the company, but could instead be a profit and revenue generator.

Big data has been a key buzzword for businesses for some time now. While many people believe big data can be beneficial, few organizations know how to fully maximize its potential. It continues to evolve becoming a driving force behind waves of digital transformation.

Dr Weigend said that successful companies succeed by removing barriers to information rather than raising them. But, if you know all of the data you can make better decisions.

At Agoda’s new Singapore office earlier today, speakers and panelists from A*STAR, Accenture Digital, Digital McKinsey Asia, Google, GovTech, and Grab, shared in-depth principles and about how their organizations manage big data, the layers of thought processes behind each analysis, and the essential ingredients in making big data work – including culture, people, skills, tools, and privacy.

“We understand the essence and importance of big data, and saw that there is a disparity in knowing and understanding it,” said Yaron Zeidman, CTO, Agoda. “In order to better make sense of the power of the information we have on hand, we first need to understand the impact it has on various industries.”

As for the use of the data, Georges Mao, Director of Marketing Science APAC at Facebook, said it was important for businesses to reconcile the use of customers’ data along with the need of the business. “Without trust there is no business,” he said, “The duty we have is a mutually beneficial result for company and users.” He cautioned misuse by adding that if you keep delivering a message that is wrong, people will eventually tune you out.

“Agoda Outside has allowed us to use this platform to share our understanding of data in the transport industry, and creating solutions that will solve everyday problems. Knowledge sharing that will help consumers is something that Grab also supports, and we believe it is a key step in constant progress.” said Marian Panganiban, Regional Policy and Research Manager, Grab.