SPV 2030: Implementing big data key in realising digital economy aspirations

Prime Minister Tun Dr Mahathir Mohamad speaks during the launch of the Shared Prosperity Vision 2030 in Kuala Lumpur October 5, 2019. ― Picture by Hari Anggara
Prime Minister Tun Dr Mahathir Mohamad speaks during the launch of the Shared Prosperity Vision 2030 in Kuala Lumpur October 5, 2019. ― Picture by Hari Anggara

KUALA LUMPUR, Oct 5 ― The nation still faces challenges in implementing big data strategies as a result of fast-changing technology in the development of digital infrastructure, including data centres, according to the Shared Prosperity Vision 2030 (WKB2030) document.

The vision launched by Prime Minister Tun Dr Mahathir Mohamad here today emphasised the need to put together big data would also require heavy investments and close cooperation between the government and industries. 

“Besides this, there is a need for expertise in the field of data analysis to support this initiative.

“At the same time, awareness to use data wisely and effectively are important factors in ensuring data secrecy, and to ease delivery methods and help make effective decisions,” the document stated.

Big data is among the main factors that contribute to changes in the way decisions and business transactions are made.

The use of big data and technological availability, according to the document, has led to innovation growth, a boost in the quality of delivery, and added value to industries.

“This element is key in ensuring the implementation of the digital economy is realised in line with current global trends for the country’s economic growth,” the document stated.

It further stated that there are five proposed strategies to implement big data, including reviewing existing legislation and introduce policies for a holistic digital ecosystem.

Besides this, there are also proposals for a new business model to be introduced to develop sustainable digital infrastructure, including data centres as well as modules for advanced skills and workers skills retraining in industrial institutes and within the industries themselves. ― Bernama

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