Fusionex

How Big Data Can Impact Your Business – Fusionex

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The buzz around Big Data as with any emerging and potentially disruptive technology is only growing and enterprises are as usual wondering how to make sense of all the hype surrounding it. Find out more about Big Data from Fusionex.

What is Big Data and why is it so critical? In today’s connected world, there is a surfeit of data being churned out from multiple sources, both structured and unstructured such as information from enterprise applications, social media, Internet and mobile. And the pace at which this is happening is only accelerating – it is said that the available data globally today is doubling every 12 months and is expected to only increase further.

The scale of this data has led to the apt coining of the term ‘Big data.’ The sheer volume and variety of data often running can be overwhelming for enterprises, which are under pressure more than ever to take informed decisions and respond in quick time. So, how can enterprises wrap their arms around this behemoth? This is where Big Data analytics steps in.

Big Data Analytics Across Industries

It is evident that enterprises need to maximize the information and knowledge that they can access to stay relevant in today’s hyper-competitive environment. And here’s how Big Data analytics can help across diverse scenarios. A common example is that of a retailer being able to sift through tonnes of consumer data to derive insights on shopping preferences and direct targeted campaigns. This can even be extended to capture the personal preferences and likes of the shopper and provide customized offers, leading to increased hit rates and revenues. This is a win-win situation for both parties as the consumer gets information and offers that he is interested in and the retailer enjoys revenue growth and potential customer loyalty as well. Big Data analytics does not have to adopt a big-bang approach all the time and is equally useful and effective in behind-the-scene scenarios for retailers. It can be used for a dramatic reduction in processing time when comparing product information, which resides across multiple data sources. Analyzing data allows a retailer to make intelligent decisions and helps gain a competitive edge.

Big Data analytics has immense potential in the field of healthcare too. Imagine if a hospital is able to go through its patient records and identify patterns in diseases. This can enable doctors to detect the onset of a disease much early on and the benefits of such an approach cannot be overstated. Throw in lifestyle data to gather additional insights and the possibilities are simply mind-boggling. Obvious gains are decreased mortality rates, better quality of life due to accurate prognosis, diagnosis and treatment, and lowered insurance costs. However, the challenge will be in overcoming regulatory and patient confidentiality issues.

Another example is from the telecom industry. Mobile connections are expected to exceed 6 billion globally and in India there are close to 750 million subscribers. In this highly connected world, the amount of data available is colossal and telcos can cleverly mine this data to their advantage. The biggest impact can be experienced by studying subscriber persona and usage patterns and using that intelligence to devise targeted marketing campaigns. The analytics can also help telcos determine what additional services are likely to find favor with subscribers and offer them appropriately. This also provides opportunities to offer value-added services such as location-based services leading to better customer service.

The examples discussed give a glimpse of how Big Data analytics can help enterprises concretely and have a tangible impact on business results. However, before embarking on this path, enterprises need to evaluate their business landscape and options available that can best suit its context. This is necessary to avoid any costly missteps. As in anything else, implementation holds the key.

 

Fusionex’s Ivan Teh set to transform palm oil industry through AI

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KUCHING: As part of a growing commitment to change Malaysia’s Palm Oil market through innovation, Fusionex released a ‘Smart Milling Workshop by means of IR 4.0′ with the Malaysian Oil Scientists’ and Technologists’ Association (MOSTA) called ‘The Future of Palm Oil Market– Changing Mill Operations and Widening Markets’, to a complete auditorium of mill owners, technologists and market gamers.

This is where Industry Transformation 4.0 (IR 4.0) innovations are brought to the forefront of Malaysia’s palm oil market to work as a driver for improving the efficiency of market gamers through development and continuous intelligence.

The workshop supplied a platform for entrepreneur, operations workers and technologists to exchange concepts and share experiences concerning brand-new research study and innovative palm oil innovation.

Fusionex also took to the phase to share powerful case research studies and relevant methods that have actually helped the industry much better its standards up until now. The session likewise supplied an opportunity for deliberation of concerns, challenges and a few of the latest advancements in the palm oil industry.

The occasion’s theme reflected future trends that require to be adopted by the palm oil market to conquer existing and emerging obstacles, particularly in the areas of innovation release in plantations, wise mills, sustainability and valuable products. Fusionex’s technology raises the bar for finest practices in plantations, as well as the milling and processing of palm oil.

Participants at this occasion had the chance to listen to Fusionex topic experts speak on how innovative technologies such as Industry 4.0 (IR 4.0), the Internet of Things, Artificial Intelligence (AI), Machine Learning and Big Data Analytics can profoundly enhance their company procedures, optimise yield, enhance overall quality, along with increase efficiency and revenues.

The Minister of Main Industries Teresa Kok, who participated in the occasion and launched the ‘Smart Palm Oil Mill Immersion Programme’, praised Fusionex and MOSTA for their dedication to transform Malaysia’s palm oil industry with advanced and results-oriented technology.

The ‘Smart Palm Oil Mill Immersion Programme’ is an assessment program worth RM10,000 and offered to the very first 20 occasion guests who registered, to kick-start their digital change journey with Fusionex.

Kok likewise stressed that, “Smart Milling will help palm oil mills modernise their operations and increase their performance. Such a collaboration in between Fusionex and MOSTA, especially though the workshop, is a necessary action in uplifting the Malaysian palm oil industry for the future”, she included.

Fusionex founder and group president Fusionex Ivan Teh stated the ‘Smart Milling Workshop through IR 4.0’ intends to encourage partnership amongst market gamers.

“It resolves some of the essential issues and challenges in the palm oil market. Fusionex is devoted to dealing with partners such as MOSTA, to create more awareness and provide much needed innovation for the market,” it stated.

“By leveraging on AI and IR 4.0 innovation we have at hand and establishing further, we can show traceability of the oils and rebut claims such as some of these raw materials are coming from deforested areas or of bad stock. Data collected enables evidence-based arguments when dealing with baseless accusations and also assist display about the quality of the palm oil produced,” he included.