Mining big data gives edge to Thai firms in era of digital disruption
Given the digital disruption of business now underway, most Thai firms are revising their business model by use big data to manage their business to serve their customers’ demands, according to experts.
“We’ve seen significantly rising demand in the past two to three years from our clients across various industries to use data to enhance their customer experiences,” said Nontawat Poomchusri, country managing director of Accenture in Thailand. “This is not limited to only online channels like apps, but also traditional channels [and the integration between online and traditional channels].”
To help their clients take advantage of today’s big data in the digital era, Accenture provides end-to-end application development service ranging from strategy to design and implementation. “We are working with clients in Thailand to help them optimise the data powered by analytics to enhance their customer experience by offering faster and more targeted products and services when they want and the way they want,” said Nontawat.
From three years ago until now, there has been a doubling of the number of the company’s customers who asked for advice on using applications and big data to change their business model, he said.
Siemens Group set up a new subsidiary unit, Next 47, to employ startups experienced in developing apps, digital, and artificial intelligence to support Siemens customers who needed those innovations to be able to draw on big data to revise their business model.
“We set up our new company when the ecosystem changed following the digital disruption of business, said Tomasz Mazur, senior vice president, country division lead of Siemens’ mobility division.
“Most corporates need a new business model and they need to mine their data to create products and service to serve customer demands. For example, we are in the process of providing an application for Bangkok Mass Transit System Plc, which operates BTS Skytrain, to manage its big data and design a programme to match with the company’s demand.”
According to a survey by The Nation, most of Thailand’s state agencies and corporates now use big data to revise their business model when digital disrupts their business.
For example, the Bank of Thailand is investing in big data and data analytics in an effort to deal with complicated transactions arising from consumers’ microfinancial activities in the digital age. In this age, technology has rapidly changed and is affecting how businesses are run, posing challenges relating to their adoption of technology.
In the next five years, the behaviour of how people consume information will change. The BOT must change to comply with that behaviour, the central bank’s governor Veeerathai Santiprabhob said recently.
Charoen Pokphands Foods or CPF recently announced its partnership with JDA Software Inc, a leading supply-chain software developer, to accelerate its digital supply-chain transformation.
CPF’s chief operating officer Prasit Boondoungprasert said that the company is moving toward digitalisation to improve the operation’s efficiency and to provide better consumer satisfaction. Big data and integrated analytics system are the keys of this transformation. With the right information and analysis, the company will be able to forecast the trend as well as conducting cross-functional planning and plant execution more effectively.
“The networking synergy will encourage the company’s marketing and inspection throughout the supply chain,” he said.
The application will allow the company to closely monitor the operation throughout the integrated broiler chicken business more accurately than in the past. With accurate operation, the company will achieve cost savings and quickly respond to clients as well as market demand, Prasit said.
“As one of the world’s leading integrated agroindustrial and food business, it is of the utmost importance for CPF to attain the best supply chain visibility to ensure production strength, and demand and supply planning accuracy. Digitalisation is allowing us to improve our consumer experience, reducing risk, rightsizing inventory and reducing wastes,” Prasit said.
Property firm Sansiri Plc also uses big data to find the location and design that match with its customers’ demand.
“When we’re looking to buy land for residential development, we mine the database and summarise our findings to learn where we have to buy the land and develop the residential projects to ensure that when the project launches in the market, we have sales success,” said Sansiri Plc’s president Srettha Thavisin in a recent interview with The Nation. “We also use big data to create services for our customers.
“The digital era supports us to do business better than in previous times,” Srettha summed up.
