Firms form analytics industry union

THE PHILIPPINES is well poised to become a global leader and a strategic hub for the $212-billion smarter analytics industry by next year, to be supported largely by a newly established consortium comprised of the private sector, government agencies and academic institutions.

This industry-led consortium called Analitika is expected to serve as the governing body that will define, develop, enhance, promote and monitor business analytics as an industry in the Philippines.

It will also identify the new professions that will be required by the transformed industries and ensure that the needed talent will be available.

At the launching ceremony Tuesday, Trade Secretary Gregory L. Domingo noted that the establishment of Analitika highlighted the increasing importance of big data and business analytics as an indispensable tool for making strategic decisions and the central role that the Philippines can assume in the industry’s continuing growth and development.

“Through this process of business analytics, an organization can gain a competitive edge by enabling a range of optimal responses, such as enhancing productivity levels, anticipating emerging market developments and unlocking hidden business opportunities. Thus, the global demand for such services will continue to grow,” Domingo explained.

The trade chief noted that business analytics will create a global demand for 4.4 million jobs by 2015, but only one-third of these positions will be filled. This, thus, presents a large opportunity for the Philippines to fill in the shortfall in advanced business analytics.

“Our country has the right mix of ingredients—a vibrant economy, a conducive business environment, the availability of quality talent, a supportive and engaged government, a determined industry. The Philippines is well prepared and well positioned to become the global center for smarter analytics,” he further stressed. Amy R. Remo