How Malaysia is Nurturing Data Scientist for 2020 and Beyond?
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Data Science has become a leading field of study in recent times owing to its vast use in almost every industry in all parts of the world. Companies and organizations are now hiring Data Scientists and analysts to study the vast amount of data that they possess and draw useful insights from it to contribute to the growth of the company, the retaining of customers as well as getting new ones as well as generating more revenues.
As the world is drawing closer to becoming a digital economy, data has become a big asset for almost every company as data can help them to predict the near future by analyzing it and identifying recurring patterns and then using predictive analysis to predict the upcoming events for the company.
Data Science in Malaysia
Due to its extensive application in practically every business throughout the world, data science has recently emerged as a top academic area. Companies and organisations are now recruiting data scientists and analysts to examine the massive amounts of data they already have and get valuable insights from it to help the firm expand, keep existing customers, attract new ones, and increase income.
Data has grown to be a valuable resource for practically all businesses as the world transitions to a digital economy because it can be used to anticipate the near future by being analysed to find reoccurring trends and then predicted through predictive analysis.
Work of the Malaysian Government
The Malaysian government is collaborating with commercial businesses and organisations to launch fresh initiatives that will both recruit more individuals into the Data Science profession and train them in its practises by giving them the necessary skills and expertise.
The Malaysian Digital Economy Corporation (MDEC) is in charge of the effort to create more data scientists because, according to the corporation's director, big data would be crucial to Malaysia's growth and development as a country if it is to thrive in the current global economy.
To close the gap between the supply and demand of data professionals, MDEC and other project partners have been fostering links between the main sectors and institutions. In order to close the gap between the supply and demand of data professionals, MDEC and other partners have been fostering relationships between the major industries and universities as part of the projects. This has been done by tackling the problem head-on—namely, the training of individuals in the data analytics and data science fields in Malaysian universities.
The MDEC has launched a number of ICT-related programmes as part of its effort to transform Malaysia into a knowledge- and data-based economy. The goal of these programmes is to build the groundwork for an artificial intelligence-infused future that will make Malaysia a data-driven advanced economy.
Along with several IT-related courses, the government has also launched numerous postgraduate programmes in the field of data science. A number of postgraduate programmes in data science have also been developed by the government, and many IT-related degrees now include data science as a specialisation.
The goal of Malaysia is to soon produce 16,000 data professionals and around 2,0000 data scientists.
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Private Companie's Efforts
According to official reports, there are around 22 multinational companies involved in Big data and analytics (BDA) which are working in Malaysia, therefore, making constant progress towards making Malaysia a hub for Big data and analytics amongst Southeast Asia.
With various companies such as Coursera, Cloudera and Center of Applied Data Science (CADS), Malaysia has been producing Data Scientists at a better rate as these companies work together with the government and the Universities in the nation to get more people in the field of Data Science and train them with the skill and knowledge to become a proficient Data Scientist.
The training part also includes altering the curriculums for field related to Data Sciences in the universities in Malaysia to keep them updated with the latest advancement in technologies and the new methodologies being introduced to the students as Data Science is a growing field and there are changes made to it at a regular pace.
According to the officials, the relationships between various MNCs and startups and businesses connected to the Malaysian government have led to the development of 70 additional data scientists as a result of this alliance.The Kuala Lumpur convention center holds a congregation that lasts for a week known as Big Data Week Asia which has been started by MDEC. The event is an effort by the MDEC to give a platform to the catalyzation of digital innovation ecosystems with the ever-growing possibilities and opportunities in the field of BDA.
CADS and ADAX
Numerous efforts and programmes have been introduced to guarantee that the public is made aware of the opportunities in the field of data science in order to foster the nation's data scientist potential.
One such programme that has had a tremendous impact on the growth and understanding of data science in Malaysia is the ASEAN Data Analytics Exchange (ADAX).
The task is accomplished by bringing together individuals throughout the country with the aptitude to enter the field of data science and raising knowledge of the most recent advancements in this area as well as the creation of technologies.
Since its implementation in 2017, ADAX has had a significant impact on the Data Science sector and Malaysia by educating at least 1,800 employees of about 298 companies about the practises of data science and advancing them to roles as data leaders, managers, and even practitioners.
Another initiative supported by the Malaysian government to advance the nation's digital economy is the Centre of Applied Data Science (CADS).
The objective of CADS, a private firm founded in 2015, is to assemble and teach individuals working in the data science sector, whether they are data professionals or Data Scientists, in the new technologies as well as to prepare them for the real world by placing them in practical situations. The objective of CADS, a private company founded in 2015, is to bring together and train individuals working in the data science sector, whether they are data professionals or Data Scientists, in the new technologies as well as to prepare them for the real world by putting them through real-life scenarios in scenarios that businesses and companies face.
In order to provide its programmes greater authenticity, CADS has received accreditation from the Malaysia Board of Technologists (MBOT) for its top data professional training course.
Initiatives like the ones cited above have helped Malaysia establish Data Science as a significant sector and have given it a steady growth to stay up with the rest of the world in the digital economy. The best thing about such programmes is that they put more of an emphasis on enhancing the nation's workforce than on the actual work, which leads to an improvement and increase in the calibre of the human resource in the nation.
As the world is moving towards becoming more and more digitized, the data is playing a very important role in the growth and development of the countries. Therefore, it is obvious that countries will focus on building their reserves of people involved in the Data Sciences and Data Analytics.
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