The industry is shifting, fast.

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.

• Coca-Cola creates highly engaging ads by analyzing terabytes of customer feedback data.
• Netflix creates viewer stickiness by analyzing viewers’ behavior and recommending more movies. 
• Marriott Hotels increases its profit by using a dynamic pricing strategy that automatically adjusts hotel rates when famous musicians perform nearby. 
• Amazon continues to grow its revenue by figuring out what each customer would likely buy, through analyzing every touchpoint.  

And it’s not just these Western companies. 

In Malaysia, companies like AirAsia, Celcom, Maybank, and more – are using data to grow their revenue. 

This creates a big opportunity.  

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: 

• Option 1: Upgrade their current workforce, and put them in charge of the data. 
• Option 2: Hire new people – data analyst, business analyst, consultants. 
• Option 3: Do nothing. 

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.