The Power of Data for Business Growth on CoTalks | CoHive Blogs

The Power of Data for Business Growth on CoTalks

There is no denying that technology is improving; getting information has never been easier with various platforms we have today, just by typing down the key word, the system will present you hundreds and thousand worth of information and data, a process that would take you far more time if technology is not as advanced.

There is no denying that technology is improving; getting information has never been easier with various platforms we have today, just by typing down the key word, the system will present you hundreds and thousand worth of information and data, a process that would take you far more time if technology is not as advanced. Imagine trying to find a relevant document or article from 2013 without the internet. What a nightmare!

These data are not only useful and important for personal use, but it is worth a lot more to business growth, and not every data is the same. Big data was commonly used by technologists in big companies, but it has become important for all business.

According to oracle.com, Big Data is a bigger, more complex data sets. These data are so big that traditional data processing would not be able to manage them. This is why it is important for future entrepreneurs to learn more about data collecting and processing, especially managing Big Data.

Titled “The Power of Data to Improve Your Business”, CoHive brought this important discussion to live on one of its flagship programs, CoTalks. The event discussed how data can boost business growth for future entrepreneurs by having two important people from this industry: Meidy Fitranto, CEO and Co-Founder of Nodeflux, the first artificial intelligence (AI) company from Indonesia and Fajar Jaman, CEO of IYKRA, a platform of education that revolutionize both education and technology with a transdisciplinary approach that integrates technology in every sphere of industry. Held on Tuesday, 27 August 2019 at CoHive D.Lab, Jakarta, the talkshow was attended by 80 people from various backgrounds.

Moderated by Desi Dwi Jayanti from katadata.co.id, the seminar discussed about Nodeflux and what Nodeflux is as a company. Nodeflux started as a Big Data startup, now the first Indonesian company that specializes in artificial intelligence among top AI companies in the world, such as Russia, USA, China, Israel and Spain. Meidy also covered how data can be used to increase business, and how the experience can help easier data collection.

Followed by Fajar presenting about IYKRA. IYKRA provides teaching and consulting on developing capabilities of an organization or professionals in business, data and technology. IYKRA contributes in enabling artificial intelligence many leading companies in Indonesia from various industries, such as Telco, banking and governmental companies. Fajar presented practical examples of how Big Data is used to gain profit.  

According to big data analysis published by SAS, technologies such as Hadoop and cloud-based analytics can help reduce cost when it comes to storing massive amounts of data, these technologies can identify ways of doing business more efficiently. Technologies like Hadoop combined with abilities to analyze new data sources, decision-making can be made immediately based on what they have learned. Lastly, with the new ability to gather information about their customers, businesses now have the power to meet and satisfy customer’s needs by producing new products and services.

While it is nice to have access to these data, it is also a challenge for concerned parties with the security of the data. It is known that once you put something out on the internet, it will no longer be yours, but every internet user. Companies have to go above and beyond to protect these data from being misused by irresponsible individuals. It is now up to internet users to be more cautious with internet usage, because once you hit post, it will become public consumption.

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