Manila, Philippines – Exist, a global technology innovator and the leading big data solutions provider in the Philippines, Informatica, the enterprise cloud data management leader, and Cloudera Inc. (NYSE: CLDR) the modern platform for machine learning and analytics, optimized for the cloud, jointly hosted a big data roundtable event on November 22 in Discovery Primea, Makati City, Philippines. The event saw participation of CIOs and executives from leading organizations in the country. With a theme of “Empowering Data Monetization with Big Data”, the event highlighted the value and potential benefits of big data and how to monetize it to create new revenue opportunities.
Addressing a diverse group from various sectors such as banking, healthcare, utilities and telecommunications, Mr. Michael Lim, president and CEO of Exist, opened the event with a quick overview of the big data landscape and how the amount of data has fundamentally changed and affected everything we do. “We’re currently living in the age of a massive data deluge and while most of us remain solely as data creators,” says Michael, “there are those who have the foresight and the will to turn this situation into a source of competitive advantage.”
Following Exist’s presentation, Daniel Clarke of Informatica emphasized the importance of data governance in big data projects. “The real key is how you join the enterprise on premise world with the world of cloud. In addition, you have Hadoop and you need to ensure the same discipline around governance and security. This is really critical and Informatica has implemented a data governance strategy with many financial institutions across Asia Pacific. Many have a governing body within the company that is responsible for implementing the strategy.”
Cloudera’s Senior Solutions Architect for Asia Pacific, Manish Maheshwari, presented on the value of data and key factors in driving a data-driven enterprise. Maheshwari drew focus to how the importance of creating a data-driven culture and the accompanying shift in mindset are towards a successful big data journey. Cloudera presented numerous success stories in the telecommunications, healthcare and financial services industries from customers who have leveraged on Cloudera’s platform for machine learning and analytics. Specific use cases such as location-based insights and mobile targeting in the telecommunications industry were also shared, to demonstrate how data can be monetized to potentially create new revenue streams and possibilities for companies.
Meanwhile, during the roundtable discussion, participants shared their experiences in implementing big data while some shared plans of their big data initiatives. Challenges regarding data quality, security, and cost were also discussed.
The discussion was rounded out with updates on big data adoption in the Asia Pacific region, it’s growing market size in the Philippines and the next steps in moving forward with big data.
“Based on what we’ve seen in other countries like Indonesia, it’s not far-fetched for big data projects to quickly intensify or explode here in the Philippines,” adds Daniel. “As the unofficial social media capital of the world, it’s only a matter of time before companies realize that there’s a goldmine of data right in front of them that can provide the insights that can help their businesses.”