Article by AAP Business Analyst, Ludilyn Pridas
The Asian Institute of Management (AIM) recently conducted a free Master Class last January 15-17, 2018 about the application and use cases of Data Science to different fields. It was also a venue for them to provide more information and some insight about the relevance and competitiveness of their newly proposed course, the MS in Data Science (MSDS) Program. The Master Classes aimed to provide some perspective on role of Data Science in the business world today.
During the second day, AIM focused on the applications relevant to the Finance and Banking sectors. The session which was primarily conducted by the Institute’s MSDS Program Director Erika Legara, PhD. She talked about the place of data science in business and emphasized on the importance of the data scientist’s ability to communicate his/her findings to the business decision makers effectively. Let me highlight some of the things I found particularly relevant. A good data science team is crucial to leveraging on company curated data as most often than not, good amounts of historical data are left untouched or under-utilized. This is because people in the business are rarely equipped to handle data, more so transform and use it through modelling. Aside from this, it was also emphasized that analytical knowledge alone will not be enough to achieve success for the business. A data scientist should also have domain knowledge on the relevant business alongside his/her data analytics skill set and techniques. The combination of both is needed to effectively revolutionize one’s business. To sum it all, AIMs seminar was a great opportunity to get an introduction on data science and its relevance, as we know that the Philippines is now adapting to keep up with the trend.
In 2013, the Commision on Higher Education (CHED) released a memo outlining the guidelines and policies for the launching of specialized courses in business analytics targeted towards students who are taking up Business Administration and Information Technology. The goal of this endeavor is to prepare students for the big global analytics wave which will likely open up a lot of career opportunities. In fact upon the release of the memo, various schools expressed their interest to add this new program to their curriculum such as the University of the Philippines – Diliman, Ateneo de Manila University, De La Salle University, Asia Pacific College and University of Santo Tomas, among others. The visualization below shows the list of schools that have expressed interest in launching their own Data Science and Analytics programs. (Click the visualization below to open and interact with it in a separate tab).
Similar to AIM and the abovementioned schools, the Analytics Association of the Philippines (AAP) also aims to shed light on the relevance of analytics to businesses and the overall economy. As an enabling organization, we aim to come up with a unified ecosystem in the Philippines where industry, the academe, and practitioners meet and find synergies. By helping mobilize trainings and programs for Filipinos that focus on how to upskill in analytics with strong regard for business domain knowledge, we hope to facilitate the creation of a new breed of data scientists that can really revolutionize organizations. Quoting the popular magazine-format newspaper, The Economist, the world’s most valuable resource is no longer oil but data. In line with this and the objective of the AAP, we serve to help individuals optimize their practice and remain well-informed about the developments of the field to make their work more valuable to them and their respective organizations. We hope to complement the efforts of AIM and other educational institutions as we take on the same objective of upskilling Filipinos. The AAP undertakes this mission through massive and inter-regional projects throughout the Philippines, hopefully reaching the seams, and making it available to all who are eager to learn.
In the Philippines we see many pros and cons of Globalization first hand.
The BPO Industry and the OFW culture has given millions of Filipinos access to jobs that provide higher salaries and economic opportunities that they might now have been able to find locally.
However, these two economic trends have also caused a brain drain, where any of the best and the brightest of the Filipino workforce is not engaged in helping better the Philippines directly.
It’s a double edged sword, but I for one think up until now the pros have been worth the cons and we have seen a growing middle class in the Philippines that didn’t exist 20 years ago.
However, the Philippines still remains on the whole a fairly poverty stricken country. Wealth distribution is a major problem. Many economic indicators show the Philippines economy being one of the shining stars of Asia, but on the streets of Manila the average Filipino is not really seeing the benefits of this growth. Still, its indisputable that for millions of Filipinos Globalization has been a benefit in raising their economic quality of life.
In addition, most of the jobs that OFWs and BPO workers take on are jobs that hard, manual process intensive, and do not require tech skills which cannot easily be replaced by A.I. There is little doubt that most of new jobs being created today require tech skills that most of the current work force does not have. The ability of the education system in the Philippines to prepare the next generation workforce with tech skills is also not where it could be.
Answers to these challenges will come with investing a lot more in upskill training and curriculum redesign to provide Filipinos with 21st Century Skills. And that is why I founded DMAIPH and am part of the AAP.
Analytics Leadership – DMAIPH is a founding member of the Analytics Association of the Philippines (AAP.PH) and specializes in arming the Data-Driven Leader with the tools and techniques they need to build and empower an analytics centric organization.
Analytics leadership requires a mastery of not just analytics skill, but also of nurturing an analytics culture. We have guided thousands of Filipino professionals to become better analytics leaders. Contact DMAIPH now at email@example.com or connect with me directly to discuss a uniquely tailored strategy to ensure you are the top of your game when it comes to Analytics Leadership. #AAPMoonshot #DataRockPinas
Disruption is now the new normal. Cutting edge HR Managers utilize data-driven techniques like; capability analytics, competency acquisition analytics, capacity analytics, employee churn analytics, corporate culture analytics, recruitment channel analytics, leadership analytics and employee performance analytics.
New technologies like social networks, applicant tracking systems, business dashboards and business intelligence applications are fundamentally changing the entire talent management process from sourcing to placement to retirement.
These new technologies are enabling HR Managers with vast amounts of big data and providing truly actionable insights which allows a deeper understand of what’s working and what’s not working when it comes to our talent strategy.
That said, many HR teams here in the Philippines are still stuck doing basic management reporting using descriptive analytics with Microsoft Excel.
If you break down HR Analytics into four types sets: data sets, tool sets, skill sets and mind sets, you can determine where barriers exist in your business. These barriers are almost always either a lack of training or a problem with company culture.
HR & Recruitment Analytics – The recruitment and retention of top talent is the biggest challenge facing just about every organization. You really have to Think Through The Box to come up with winning solutions to effectively attract, retain and manage talent in the Philippines today.
DMAIPH is a leading expert in empowering HR & Recruitment teams with analytics techniques to optimize their talent acquisition and management processes. Contact DMAIPH now at firstname.lastname@example.org or connect with me directly to learn how to get more analytics in your HR & Recruitment process so you can rise to the top in the ever quickening demand for top talent.