Years ago, businesses acted on the CEO’s intuition. The CEO makes a decision and everyone follows. That worked… for many years. But as technology advanced, businesses started using data to gain a competitive edge.
Operating by gut feeling became unreliable.
And it’s not just these Western companies.
In Malaysia, companies like AirAsia, Celcom, Maybank, and more – are using data to grow their revenue.
Today – everyone, from small businesses to giant corporations, collects data. But knowing how to analyze data and get insights is another thing.
Companies today have three options:
Of course, any smart company that wants to stay competitive will go for option 1 or 2.
And there lies the opportunity.
Because data analysis is relatively still a new career role, there are not many available talents in the market. Companies are desperate to make use of their data. But is unable to find the people for the job.
And what does basic economics teach us?
When demand is more than supply, prices increase.