MDEC’s DDE program uses data to grow businesses in M’sia

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[This is a sponsored article with MDEC.]

As the country moves forward to address the effects of COVID-19, the government outlined a plan for Malaysia’s digital economy (MyDIGITAL) transform the nation into one that is digitally capable and inclusive, to be a regional leader in digital economy.

The plan also requires industry agents to innovate and adopt new business models that will build a digital ecosystem, which will allow society to adopt the digital economy. But to do that, companies need to understand the importance of big data.

Relying on data is not just a technological fad. It is based on analysis and empirical evidence, leading to tangible results. From the decrease in manpower required by 75 per cent to achieve the same production, to the increase in customer participation, the data-driven route has helped some of Malaysia’s largest companies to optimize its operations.

With the assistance of the Malaysian Digital Economy Corporation (MDEC), these corporations have successfully integrated data technology into their operations.

Improve manufacturing output through data

Hartalega is one of the largest manufacturers of nitrile gloves in the world. But to get where they are today, they had to strategically invest in digital technologies.

Kuan Mun Leong, the CEO of Hartalega Holdings Bhd, said that when they started, they needed 10 employees to produce 1 million gloves a month. But with the investment they have made in digital capabilities, they now only need 2.5 workers to produce 1 million gloves a month.

Kuan Mun Leong, CEO of Hartalega Holdings Bhd / Image Credit: MDEC

To achieve current production, the company had to adopt technology in the workplace, but noted that it can be an expensive and exhausting process. First, to improve its manufacturing capabilities, the company took one detailed look of pain points of its employees in the production plant.

Once they understood the challenges employees face on a daily basis, they hired a team of data analysts and developers who created an algorithm capable of detecting quality issues or production losses even before they occurred. This helped make the production plant more productive and efficient.

Through this understanding of the data on its processes, it allowed the company to build a fully digital and automated manufacturing plant. Especially with the demand for gloves tripling due to the pandemic, Hartalega can adjust its glove production to meet the needs of its customers.

Build a data-based work culture

If you have been looking for properties in Malaysia, one of the names you will find is Mah Sing. The company has been developing real estate since 1994 and has more than 52 projects nationwide.

But with ever-changing customer expectations, Mah Sing knew they had to improve technologically and digitally to keep up with customer demand and be a key pillar in the industry.

It turned out to be an uphill battle: the real estate industry is opposed to change, as it relies heavily on inherited services. That’s when Mah Sing understood that they must first transform their culture before they can focus on their customers.

The company adopted a high-performance work culture through a top-down approach, where all results and outcomes are measurable. The company used technology to provide them with key metrics such as how quickly tickets are resolved, how quickly employees respond to customers, and even the effectiveness of their digital marketing.

Through the data they have collected, the company could modify its processes and, in doing so, provide its customers with better deals. In an interview with MDEC, Mah Sing revealed that customer engagement has been increasing year after year, with a 75% increase in customer participation last year.

His understanding of his customers also led to effective marketing strategies, as 50% of his internal sales were made only through digital marketing channels.

Offer customers more value-added services

A better understanding of the data can also provide a better customer experience. Permodalan Nasional Berhad (GNP) has more than 14 million unit-holder accounts at its disposal, and 12.6 million of them actively invest in GNP.

Like Mah Sing, PNB wanted to offer its customers a better experience, and with customers ’expectations evolving to demand faster, better, and more digital offerings, the company experienced a change based on data.

Through the data obtained by PNB, they knew it 30% of its customers are iOS users and 70% use Android devices. Their data also reveals which devices customers also use. And that helps internal app developers create an app that works for the devices their customers use.

Muzaffar Othman, CEO of GNP on what GNP should do to support its customers / Image credit: MDEC

In terms of improving its offerings, the data also allowed the company to understand and predict customer actions. With data, they can provide advice to different clients at different times in life. For example, if you are a young adult who has never invested, you will be advised to invest in fixed price products, while a retired investor may have a different investment approach.

Now they are finished 1.6 million users (12%) of its holders participate digitally through their mobile application.

Help Malaysian companies understand the data

With all the talk about data, if you don’t have the capacity or the trained staff, you’ll be working at a loss. To help companies understand the benefits of data, MDEC provided the Data Driven Enterprise (RIGHT) program to life.

MDEC’s DDE program aims to provide a structured and accelerated approach by helping companies gain value from their digital transformation efforts and rapidly change to be more productive, innovative and resilient.

Recently, MDEC has launched a complementary one Evaluation of data preparation, analytics and AI which will allow organizations to understand their data, their analysis, and their readiness for artificial intelligence. Once the evaluation is complete, organizations will receive a personalized report that will help them on their path to 4IR preparation.

This is what the MDEC DDE program offers:

  1. A complementary data assessment to measure readiness based on your company’s data,
  2. 2 hours of free consultation sessions with MDEC data and analysis experts,
  3. Data knowledge workshops / webinars with more than 50 industry data technology partners,
  4. Access to training, qualification and facilitation of talent,
  5. Access to case studies, sharing solutions and references from industry experts,
  6. Business facilitation, matching your business needs with MDEC data technology partners.

The DDE program is in line with Malaysia’s MDEC 5.0 vision, which enables a nation deeply integrated with technology to deliver equitable digital opportunities to individuals and businesses.

  • Learn more about the MDEC DDE program here.
  • Do the data evaluation for free here.
  • Read what we’ve written about MDEC in the past here.

Featured Image Credit: MDEC





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