JavaScript is off. Please enable to view full site.

Vietnam firms approaching Big Data like going to banquet: FPT chairman

Vietnam firms approaching Big Data like going to banquet: FPT chairman

Thursday, October 23, 2014, 19:09 GMT+7

The way Vietnamese businesses are approaching Big Data solutions is just like attending a banquet, the chairman of a leading telecom firm said Wednesday, referring to the firms’ unpreparedness in adopting the new technology trend.

“Local businesses view Big Data, as well as the cloud computing technology, as a lavish feast, which is new and attractive, so they just jump in to attend without being so well-prepared,” Truong Gia Binh, chairman of the FPT Group, said at a conference in Ho Chi Minh City.

“The Big Data human resource in Vietnam remains weak, and the security and safety issues are not ensured,” Binh said.

The power of Big Data is among the five main topics discussed at the seventh annual “Technology, Money, and Business Future” organized by the Nhip Cau Dau Tu (Investment Bridge) newspaper.

The others include three technology trends that will change the world of business; cloud computing; misfit wearables; and mobility. The event attracted nearly 600 businesses, according to the organizers.

Big Data is a nascent technological endeavor that organizes the volume and velocity of data into practical business utility, according to Reuters.

Big Data also refers to the enormous datasets produced by manufacturers, healthcare providers, regulatory bodies, scientists and others. Big Data is believed by businesses to have the potential to improve operations and produce faster, more informed decisions.

One of the most practical examples of what Big Data can benefit businesses is that they can customize their website in real time, according to Data Science Series, a website focusing on big data-related stories.

“Big Data analytics allows you to personalize the content or look and feel of your website in real time to suit each consumer entering your website, depending on, for instance, their sex, nationality or from where they ended up on your site,” Data Science Series said.

The best-known example is the ‛Frequently bought together’ and ‛Customers who bought this item also bought’ features on Amazon website or the ‛People you may know’ or ‛Companies you may want to follow’ suggestion on LinkedIn, according to Data Science Series.

Meanwhile, cloud computing is Internet-based computing in which large groups of remote servers are networked to allow the centralized data storage, and online access to computer services or resources.

Technology experts at the Wednesday event all agreed that Big Data and cloud computing will boost the world of technology in the future and create chances for brand new business models to be born.

Sadly, many Vietnamese businesses still do not know how to take advantage of the power of Big Data, so they become “less competitive in both the local and overseas markets compared to international rivals,” the experts said.

Also at the event, FPT Group chairman Binh confirmed the reported VND33 billion (US$1.55 million) acquisition of haivl.com - the Vietnamese equivalent of 9GAG.com - by 24H Online Advertising JSC.

Local media reported earlier this month that the social media website, where users upload and share comical images and videos, has been acquired by the online ad agency under a purported $1.5 million deal.

Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!

TUOI TRE NEWS

More

Read more

;

Photos

VIDEOS

‘Taste of Australia’ gala dinner held in Ho Chi Minh City after 2-year hiatus

Taste of Australia Gala Reception has returned to the Park Hyatt Hotel in Ho Chi Minh City's District 1 after a two-year hiatus due to the COVID-19 pandemic

Vietnamese woman gives unconditional love to hundreds of adopted children

Despite her own immense hardship, she has taken in and cared for hundreds of orphans over the past three decades.

Vietnam’s Mekong Delta celebrates spring with ‘hat boi’ performances

The art form is so popular that it attracts people from all ages in the Mekong Delta

Vietnamese youngster travels back in time with clay miniatures

Each work is a scene caught by Dung and kept in his memories through his journeys across Vietnam

Latest news