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As the world today continues to improve and welcome new technologies such as Artificial Intelligence and Big Data, Singapore continues to progress towards a strong digital economy. As we head towards becoming a smart nation, data analytics has been identified as a significant growth sector for Singapore’s economy.
According to a study reported by Singapore Economic Development Board (EDB), the data analytics industry is central to Singapore’s economy, contributing at least $1 billion (US$730 million) every year. EDB also expected the data analytics services to reach $37 billion by 2022.
With its excellent data connectivity and robust business ecosystem, some of the prominent companies in Singapore with good job opportunities include OCBC Bank, DBS Bank and Google.
Data Analytics are processes involving the examination of data sets to extract useful information by using specialised systems and software. By analysing data, companies are able to better make decisions that benefit them.
So why is Data Analytics in Demand?
The amount of data generated each day just by spending an hour on the internet is inconceivable. While it may not be important for individuals to understand and analyse these stats, the data generated is vital to the improvements for businesses all over the world. These meaningful insights are able to help businesses make informed decisions, delivering exceptional customer experience.
As Singapore is strategically located in the heart of Asia with excellent global connections, we are able to host and analyze huge volumes of real-time data. Moreover, Singapore’s multi-racial culture makes it an attractive location for testing innovations.
As a result, data analytics has the potential to transform and improve Singapore’s economy by revolutionising some of the biggest industries in Singapore. Some of these industries include:
To aid the country in its progress in data analytics, Singapore has established the Singapore Data Science Consortium. Singapore will continue to host high-impact projects like Facebook’s $1.4 billion (US$1 billion) data center and Chinese e-commerce giant Alibaba’s first joint research institute outside of China.
With that, there is definitely a demand for data analytics in Singapore. Do you want to upgrade your skills and be high in demand? Enroll in our data analytics course here!
Conducted by a seasoned data scientist from Merck, our training course will teach you essential data analytical skills to propel you towards success!
EDB Singapore. (2018). Singapore’s big ambitions for big data in 2019. Edb.gov.sg. Retrieved November 9, 2021, from https://www.edb.gov.sg/en/business-insights/insights/singapore-s-big-ambitions-for-big-data-in-2019.html.
MyCareersFuture. (2021, August 21). Hot jobs: Why are data analysts in demand and how to be one. MyCareersFuture. Retrieved November 9, 2021, from https://content.mycareersfuture.gov.sg/rising-demand-data-analytics-professionals-singapore/.
MyCareersFuture.sg. (2019). There is a rising demand for data analytics professionals in Singapore. Virtual Career Fair. Retrieved November 9, 2021, from https://vcf.mycareersfuture.gov.sg/ict/article/there-is-a-rising-demand-for-data-analytics-professionals-in-singapore-M2UX0-LI4FS-GSIFK-CT653.