Corporate News

Philippines to become data analytics hub

Posted on April 23, 2014

NINE of the country’s biggest companies formed a consortium yesterday with the aim of making the Philippines a global hub for data analytics.

Analitika -- which groups the Bank of the Philippine Islands, ABS-CBN Corp., Smart Communications, Inc., Pilipinas Shell Petroleum Corp., Sun Life Financial, Inc., SM Retail, Inc., Integrated Micro-electronics, Inc., Manila Electric Co., and International Business Machines (IBM) Philippines -- was inaugurated yesterday in Makati City to define, develop, and promote data analytics as an industry.

“It [Analitika] will define and nurture the new professions that will be required by the transformed industries and ensure the needed talent is available,” according to a handout given to reporters yesterday.

Trade Secretary Gregory L. Domingo said that the Philippines has “the right mix of ingredients” to allow it to become the global center for data analytics.

The ingredients, he said, are “a vibrant economy, conducive business environment, skilled and quality workforce, supportive and engaged government, and a determined industry.”

“With the confluence of fresh insights and brilliant ideas that Analitika is sure to provide, the Philippines is well-prepared and well-positioned to become the global center for smarter analytics,” he said.

He added that the Philippines could easily increase its market share in a global industry that is valued at $212 billion.

“We’re already two steps ahead. Data analytics is already embedded in the curriculum of some schools here,” he said.

IBM Philippines Country General Manager Mariels Almeda Winhoffer, for her part, said she sees the local business process outsourcing (BPO) industry heading towards data analytics, which requires higher skills and training.

“The BPO industry is good but it is not sustainable. It is only growing 5%,” she said.

Analitika estimates that at least 200,000 analytics jobs will be generated locally within the next five years. -- Daryll Edisonn D. Saclag