By Pubs Abayasiri, Associate Director – Digital Products, CLP, and Vidal Fernandez, Director – Big Data, CLP
There was a time, not long ago, where many of us operated and made decisions based largely on our knowledge and experience rather than data. That seems almost inconceivable these days when most of us are awake to the benefits of data-driven services.
The best examples of utilising data in a meaningful way come from the technology sector. From the moment we wake up and grab our mobile phones, to the music we listen to on Spotify and the TV shows recommended to us on Netflix, we are bombarded by targeted, fairly accurate content, shaped by countless data points captured through our daily interactions.
However, there is still work to be done for many non-technology sector corporates to get to a situation where we can realise the true potential of data science. So why can’t we get there faster and move away more rapidly from analogue services? We believe there are four key factors holding us back: Legacy, Investment, Talent, and Sponsorship.