Big Data Industry on Rise in Singapore

by January 25, 2018 0 comments

Singapore has a phone subscription to population ratio of 1.5:1. There are more subscriptions than there are people in Singapore. Nothing else can have a concrete proof with the standpoints that Singapore is starting at. Clearly, no country would want to be behind in the race of artificial intelligence or more so of digitization. Singapore is soon starting to become a hub for startups and majorly those that leverage big data. The government of Singapore is also not much behind. The government has already planned to dive into big data to manage and counter monitor the proceedings. Smart nation, a consortium that the government of Singapore is forming which will comprise of the best researchers from the nation including the think tanks to lead the world in taking a first such step.

There are plethora of companies coming up that provide analytics solutions in the country. These companies are not only aiding others in making business-related decisions but also enabling many of them to join the digital bandwagon.

A firm called Telcos is gaining momentum these days in Singapore. Ranging from customer needs to their shopping styles to any other information as required by the government to analyze the functioning of the schemes, Telcos provides it with all. Big data has enabled Telcos to sell the information thus rendered useful to any private or public enterprise. The permutation combination that generates the big data is another advantage that plays on the side of Telcos giving the matter of trust to the clients. Public policies and other safety measures have now become easier to manage and monitor operations owing to the big data.

The most efficient and popular firms that facilitate data analytics are Singtel, M1, and Starhub. Singtel’s subsidiary DataSpark started in 2014 has occupied a substantial share in the market. It has helped in analyzing crowd patterns and consequently aided in studying the commuters’ population along with handling traffic efficiently. Apart from on-road experience, DataSpark has also, with the help of big data, entered the Railways thereby controlling the peak hours judiciously. Retail and real estate are among the numerous industries that have exploited big data for the good.

An indigenous startup called Y Ventures group works on collecting big data about retail brands across various e-commerce websites. If any particular brand wants to get data on how other brands are performing on a particular product, YVG will help you get it.

Amongst all the fuss about big data and how reliable is it to see the market trends, and fast to absorb any information, one should not forget about the privacy factor. Also, it is worth noting that, the cybersecurity departments and enterprises are also using big data to function.

According to the learned individuals involved in the big data area, the power to track every interaction has helped in ways that cannot be defined in increasing sales and reading consumer patterns. Cloud computing has added another star to the big data success. Introduction of chatbots in the healthcare industry is changing the way the health services are offered as the chatbots interact with the patients. Machine learning is leveraged for providing instant information in most of the hospitals in Singapore.

With data scientists at the disposal, the government of Singapore is entering into almost all fields for problem-solving. The Housing Development Board used an online portal for key collection by homeowners. GovTech, a company that has collaborated with HDB has facilitated the government employees with text analytics platform.

Singapore is progressing towards big data at an amazing speed and soon it will master the consumer services. The conglomerate of government departments and companies providing big data services is another milestone which can act as an inspiration for all other countries that are living in a hoax that it is only private companies that can benefit from big data.

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