“Data at the heart of digital transformation”
The statement above was penned by IBM (2019) in their paper “Master data management and a 360-degree view of data”, mentioning that data is the "heart" of digital transformation as it can be securely accessed by all members of the organization to support the development of new products, improved customer experiences, or deeper market insights. Furthermore, we are currently living in a digital age where big data –a vast collection of data that cannot be stored, processed, or analyzed using conventional tools (Siegfried, 2015)– is essential for enabling organizations to make better, fact-based decisions and enhance the overall customer experience.
Data Science, the Digital Economy, and the World of Work
Data is increasingly turning into the most valuable currency for organizations as Covid-19 quickens the global digital revolution. According to the Organization for Economic Co-operation and Development's (OECD) Digital Economy Outlook 2020 Report, a confluence of challenges from Covid and emerging industries have sped up digitization and the rise of big data. Hence, data science plays a crucial role in responding to the current massive growth in data due to digitization and digital transformation adoption.
The Correlation between Big Data and Data Science
Data science is a method for working with big data to extract useful information from it by compiling data sets from different fields, analyzing them, and then using machine learning, sentiment analysis, and other techniques (Manoj, Kolanu, Subbarao, Prakash, 2018). Big data essentially deals with a lot of data, and data science uses machine learning algorithms to design and build statistical models to extract knowledge from the mass of big data.
Data Science Affects the Digital Economy and the Future of Jobs
The new economy is being driven by technology. Digital economy is a part of the economic output that is solely or primarily derived from digital technologies and has a business model based on digital goods or services, including the digital sector as well as emerging digital and platform services (Bukht & Heeks, 2017). At all scales, advanced technologies like Artificial Intelligence, Machine Learning, and others are revealing new business opportunities and undiscovered potential. As a result, enormous amounts of data are being generated. According to studies, the digital economy will generate 463 Exabytes of data by 2025, or 24.3 percent of the global GDP.
These data need to be analyzed and understood in order to produce insights. Because of this, organizations now require employees who can handle data. This has an impact on and changes the world of work as well. This change will be as significant as the mechanization of earlier generations of manufacturing and agriculture due to artificial intelligence and automation. Nearly all jobs will change, even though some will disappear, and many new ones will be created. In addition, according to the US Bureau of Labor Statistics, there will be 11.5 million jobs in data science and analytics by 2026. The World Economic Forum (WEF) also claimed that technology adoption by industries in Indonesia has also affected the future of jobs.
Indonesia's Economic Future
Because of its solid foundation and access to capital, Indonesia has the potential to grow into Southeast Asia's largest digital economy. Additionally, due to Indonesia's consistently rising rate of e-commerce transactions, this will most likely occur.
Indonesia e-commerce market is expected to register a robust 23.8% growth in 2022 and reach IDR420.8 trillion in 2022, forecasts GlobalData, a leading data and analytics company. According to GlobalData’s E-Commerce Analytics, e-commerce payments in Indonesia are forecasted to rise further at a compound annual growth rate (CAGR) of 22.0% between 2021 and 2025, to reach IDR753.8 trillion in 2025. Moreover, Google, Temasek, and Bain & Company, in their e-Conomy SEA 2020 Report, projected the value of Indonesia’s digital economy transactions to reach USD 124 billion or IDR1,700 trillion by 2025.
Not Yet Prepared for the Digital Economy
E-commerce sales in Indonesia registered sustained growth over the last few years supported by rising Internet and smartphone penetration, growing middle class population, and proliferation of online merchants and payment tools. Furthermore, the COVID-19 pandemic made online shopping more appealing among consumers due to social distancing and lockdown restrictions.
As Indonesia shows a positive growth especially in e-commerce sector, investors now start to see our country as a best place to invest in. This opportunity will greatly benefit Indonesia if we succeed in producing the best start-ups which later will bring immense revenue to our country.
However, Indonesia is still lagging in capturing its digital potential (McKinsey, 2016). Wiley Digital Skills Gap Index (DSGI) Global Ranking 2021 also showed that Indonesia is in the 47th place with a score of 5.2. It shows that our country is still not advanced and prepared yet for a successful digital economy.
Indonesia Is in Need of 9 Million Digital Talents
Indonesia needs to have excellent and competent “digital talents” who will play a crucial role in accelerating the digital economy. Digital talent has exceptional knowledge and skills to adapt and best utilize digital technology, as well as other essential skills to understand the reasons behind the actions (e.g., while UX writers strive to increase user experience, they should also understand who the target user is and how this project will improve user experience).
The Ministry of Communication and Information Technology mentioned that we need 9 million digital talents for the 15 years ahead, or else we have to rely on foreign supplies which we strongly need to avoid. In the Industry 4.0 era, Indonesia is projected to require digital talents in Big Data Analytics, AI, Cybersecurity, Cloud Computing, IoT, Machine Learning, and others.
In attempt to improve the quality of Indonesian human resources to be skilful digital talents who are ready to face the era of disruption and the Digital Economy as well as reduce the unemployment rate in Indonesia, Multimatics and Karya Talents present
“Data Science Rockstar Program”
Introducing Data Science Rockstar Program
Data Science Rockstar program is a collaboration between Multimatics and Karya Talents which aims to prepare and develop those who are talented in Data Science and place them to the desired workplace where they can make an impactful contribution. Data Science Rockstar will open up your doors to become a professional Data Scientist! Trained, guided, and mentored by professional certified Data Science practitioners, you will be a professional in Data Science effortlessly in 12 weeks. Join us and you will be the Right Fit for your dream company!
10 Reasons Why You Must Join Data Science Rockstar Program
Our program is The Best All-Inclusive Data Science Bootcamp Program in the City! We cover everything you need to pursue your professional Data Scientist career.
1. Job Placement
Easy to get a job! We have an extensive network of placements that can help you find your dream job
2. 4 International Certifications
Joining our Data Science Rockstar program means you’ll get the chance to obtain 4 international certifications that can ensure your career success! You’ll get certifications of CertNexus CDSP, PMI Project Management Ready, EXIN Agile Scrum Foundation, & Logical Operations Soft Skills 4.0.
3. Online Learning Free Access
To ensure the learning success, we give you Multimatics Online Learning Platform free access so you can learn anytime at your own pace.
4. Connected with KT Network
You’ll get the chance to connect with KT Network that will surely benefit you in many ways! Our KT Network: CARE Webinar, CARE Gathering, and CARE Coaching.
5. Excellent Career Coaching and Support
We offer you career coaching and support services such as Career Consulting, CV Assistance, and Interview Coaching.
6. Continuing Professional Development
Continuing Professional Development essentially ensures that you continue to be proficient and competent in your profession while also furnishing you with essential skills that could help you progress with your career.
7. Demo Day
Demo Day will be in front of our hiring partners which can be tailored to the talent’s industry preferences
8. Money Back Guarantee**
Terms and Conditions applied. Contact us for more info!
9. Relevant Curriculum
Our Data Science Rockstar’s program curriculum is very updated and relevant with the current industry trends. We guarantee you will get the knowledge and competencies needed for confronting the era of disruption and the Digital Economy.
10. Equipped with Soft Skills 4.0
Skilful Digital talent not only has exceptional technical knowledge and skills, but also the essential skills for collaborative work and continual growth. Therefore, we also provide you Soft Skills 4.0.
Learn what normally would take years in just a few weeks. Be fully equipped with skills and experiences needed to accelerate your career.
Pursue Your Professional Data Scientist Career and Conquer the Big Data Era!
Visit our website https://dsr.multimatics.co.id/ for further information.
Reference:
D. Sánchez, J. Domingo-Ferrer, and S. Martínez, ‘‘Co-utile disclosure of private data in social networks,’’ Inf. Sci., vol. 441, pp. 50–65, 2018.
Libicki, M. Could the issue of DPRK hacking benefit from benign neglect? Georg. J. Int. Aff. 2018, 19, 83–89. [CrossRef]
Bukht, R. & Heeks, R. (2017). Defining, Conceptualising and Measuring the Digital Economy.
Development Informatics Working Paper no. 68, Available at SSRN: https://ssrn.com/abstract=3431732 or http://dx.doi.org/10.2139/ssrn.3431732
IBM Unified Governance and Integration. (2019). Master data management and a 360-degree view of
data. Retrieved from https://www.ibm.com/
