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.
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