Modern information and communications technology (ICT) services are expected to play a more important role in supporting growth this year, according to the Monetary Authority of Singapore, through the delivery of high-value information technology services.

These include emergent technologies like data analysis or cyber security, which follow a natural evolution of having a hyper-connected population, thanks to convenient and easy access to the Internet.

One area primed to become even more relevant is data analytics, the sector which collects, analyses and uses large amounts of data.

According to the Economic Development Board (EDB), the data analytics sector will likely add S$1 billion in value to the economy by 2017. The Infocomm Media 2025 masterplan, a government road map for the ICT sector over the next 10 years, ranks big data as one of the key strategic thrusts for the nation.

Source: The Straits Times (published on March 17, 2016)

This article appeared in the print edition of The Straits Times on March 17, 2016, with the headline 'Opportunities abound in data analytics sector'.


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