NOVEMBER 20238 IN MY VIEWAccording to a survey by McKinsey, the COVID-19 crisis accidentally became the catalyst that accelerated digital transformation across companies around the globe, and Vietnam is not an exception. Even though we start at a later point compared to developed countries, the speed of digital transformation is shockingly fast. Recent research conducted by DBS indicated that companies in Vietnam were using digitalization to modernize their customer experience and engage their customer online at a higher rate than the global average.Surfing on that inevitable trend, data and other digitalization pillars are playing a more important role than ever in Vietnamese organizations. This is due to the need to extract insights from the massive data generated from multiple touch points in the digital space to collect customer/consumer digital footprints. Furthermore, in the digital era, leaders see the need to make the right decisions fast in a rapidly changing world; thus, they start to learn to make more fact-based decisions rather than based solely on their experience.This is no doubt an exciting time for those who work in the field of data like me; however, a reminder to fix our eyes on some tangible goals is advisable. This is crucial, especially if a company is still at the beginning of the journey, where there is little to be shown, and the initial investment cost can be eye-watering. Exciting to the new untapped potential as they may, the leader's patience has its limit. Chasing every new data technology claiming to give us cutting-edge advantages or change the playing field without solid proof can eventually exhaust us. According to my experience, there are some typical ways that companies in Vietnam employ data to create advantages against competitors.Even though it sounds boring and old age, I believe business intelligence and data governance won't be out of fashion soon. Playing this card right can give any organization an operational advantage. Firstly, on the surface, this concept has existed for ages; new technologies like the cloud infrastructure, data lake house, and data DIGITAL TRANSFORMATION HAPPENING IN VIETNAMBY DUY TRUONG, DIRECTOR, HEAD OF DATA ENGINEERING AND ANALYTICS, HO CHI MINH CITY SECURITIES CORPORATION (HSC)Duy Truong
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