|Photo by: CC0 Public Domain via Max Pixel|
Professional service provider Ernst & Young Global Services (Philippines) claims enterprises in the Philippines should embrace big data to boost value creation and productivity, claiming that doing so would make them internationally competitive.
Ernst & Young’s manager for advisory data and analytics Nikko Refe said that businesses have already become borderless. Along with this, enterprises need to adopt new ways so they can remain or get ahead of the market competition.
Refe suggested that the enterprises in the country can embrace big data to increase profits, improve processes, determine new business strategies, and drive customer satisfaction. “More companies are now looking at how they can get additional revenue streams through big data,” said Refe during his talk in business management consultant SGV’s Digital Roadshow.
The manager referred big data to the ample amounts of unstructured and structured data that businesses and organizations may potentially use and analyze for gains, especially in business.
Refe suggested that even the small enterprises in the Philippines can take advantage of the megatrend since it will assist them in determining the data helpful for several industries, including finance, telecommunications, and retail.
Ernst & Young detailed that when it comes to maturity of data analytics, the Asia Pacific region is on top and it is in this region where the Philippines is located. “Big data can help decision-makers look into or decide on what to do next,” adds Refe.