Data Science boosts the Malaysian Economy

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The Malaysian economy is characterised by progress. It has enjoyed an upward curve since the 1970s and that is not by any magic or miracle. The Malaysian government has been adept in discerning the gaps and filling them in order to help the economy flourish. Currently this country has an upper-middle level economical status; it is quite exemplary among the developing nations. Quite habitually the Malaysian government was quick to discern the burgeoning importance of data analytics and the emergence of data science; hence initiatives like ADAX (Asean Data Analytics Exchange) or platforms like the DFTZ (Digital Free Trade Zone) have been developed. The Malaysian Digital Economy Corporation or MDEC set to train 2000 data scientists back in 2015. The government granted US$37.7 million over a period of 4 years for this project. The initiative was a success although not without certain imperfections Can I Trust You My Friend?.

The progressive industry

The idea of progress through transformation is embedded in the Malaysian economy. The data analytics industry is no difference. The very existence of endeavours like the ADAX, prove that how eager Malaysia is to adapt analytics and compete in the global scene. The 3000 odd companies which operate from the digital free trade zone in Malaysia agree on one point that they are ever ready to adopt a new technology if it is easier, faster and cheaper. Transformation is a way of life in the Malaysian digital sector. This attitude had made it possible to clock revenue of RM450milion in 2017. A data scientist course in Malaysia at this point is highly recommended for obvious reasons.

More: Online Business Advisor

The skill gap and the opportunities

The progress made by the data scientific technology was totally unprecedented before it did what it did. In today’s world data is the ultimate resource for any industry. Access to data determines whether you would be able to sell a product or not. This is how data itself has become a commodity, a really high valued commodity, so much so that the largest corporations in the world are actually dealing in data more than anything be it Google, Amazon or Facebook. The demand for data science professionals too is unprecedented.

It was impossible to produce so many data scientist as would suffice for the whole world in such a short time. Data science professionals are scattered unevenly around the world and the demand too differs from one place to the other; the USA for instant has the highest demand for data science and data analytics professionals at the moment. Undergoing a data scientist course in Malaysia can actually prepare you to take on the global market and sought after a illustrious career in the said field.

Digital economy and data science

All technological breakthroughs in the history have been disruptive in some way or the other, so are AI and Machine Learning. The digital economy does not only shed the dead weight of pen and paper but also a lot of hands. Educating yourself in data analytics and data science skills is a full proof way of saving yourself from the disruptions issued by the new technologies.