Businesses stepping up big data implementation
After embracing big data analytics and machine learning technology in the course of its digital transformation, the business sector is looking to make money from data.
Jarit Sidhu, IDC Thailand’s head of operations, said businesses in Thailand are in the initial stage of data monetisation — using data to gain customer insights and create new revenue from their existing operations.
In developed countries, business can monetise data by processing and selling information to third parties under regulations.
Thailand does not have data privacy laws, so selling data to third parties remains a grey area.
Marut Burannasetkul, president and chief executive of T$pace Digital Co, a subsidiary of Adelfos, a digital and media investment arm under TCC Group, said TCC has data, but not enough to provide consumer insights.
T$pace plans to invest in big data analytics technology to leverage consumer insight for personalised products and service development.
T$pace will take overall data from TCC Group for ultimate result of data monetisation that can benefit to other firms in TCC group. It will start from ThaiBev and Berli Jucker Plc.
Pawoot Pongvitayapanu, founder of Tarad.com, which T$pace (under TCC Group) recently acquired 51% of, said transforming Tarad.com e-marketplace into a universal commerce platform will enable the company to gather data from merchants and provide financial loans and credit scoring to the target groups.
Having participated in TCC’s Pracha Rat Project, Tarad.com was able to bring 250,000 local SME partners to the online platform, where they can be e-payment agents, he said.
“Overall this year, Tarad.com will invest 100 million baht in technology, particularly in data analytics and the new universal commerce platform,” said Mr Pawoot.
Andrew Kvalseth, newly appointed chief of marketing for Total Access Communication (DTAC), said DTAC uses machine learning to process billions of data entries that are constantly being uploaded through both extensive inhouse online marketing and through partnerships with Google and Facebook, which allows DTAC to provide personalised services to customers.
“With artificial intelligence [AI]-powered engine technology, we are able to offer differentiated advertising to each individual, suitable to their needs in the moment,” said Mr Kvalseth.
This increased the company’s digital revenue by more than 10 times in 2017.
DTAC also uses machine learning to detect national IDs and prevent prepaid registration fraud through image recognition, and reduce repetitive tasks.
DTAC has also joined Sirindhorn International Institute of Technology to build an artificial intelligence laboratory within this year by focusing on intelligent automation, machine learning, customer experience enhancement, and data analytics.
Chawin Chatsirivichaikul, one of the founders of the AIpowered Ricult application for precision farming, said Ricult tackles the low yields of Thai farms with precise satellite imagery and weather forecast systems.
“The Thai farm yields are low compared with global benchmarks, they are lower than regional neighbours’ as well. Thai farmers continue to increase spending on fertilisers and pesticides but their yields hardly see increases,” said Mr Chawin.
By providing farmers with actionable information, Ricult is able to help them increase yields by 40%, with profits of up to 100%.
Data analytics can also help reduce the spread of diseases.
Kenth Engo-Monsen, Telenor’s senior research scientist, said the company has partnered with Harvard University to harness mobile data to predict infectious disease ranges and stop the spread of dengue and malaria.
“Knowing where dengue or malaria will spread next is incredibly important. National health services will know where to intensify their efforts and can distribute mosquito nets or set up mobile clinics. They can roll out information campaigns. They can monitor the area more closely,” said Mr Engo-Monsen.
Jointly developed by Harvard University and Mahidol University, the Thailand project will rely on mobile data from DTAC and case data from the Health Ministry to better predict future malaria outbreaks in the country.
Bhume Bhumiratana, a blockchain and security expert, said the next Thai election will enable political parties to use big data analytics and social listening to influence and target voters.