Siam Commercial Bank has joined with the Digital Economy Promotion Agency (depa) and the Asian Institute of Technology (AIT) to launch a “Data Analytics for Upskilling” program with the objective of developing personnel skills related to data analytics in Thai labor market in the face of 'new normal’ challenges.
Mr. Worawat Suvagondha, SCB First Executive Vice President and Head of the SCB Academy, said that in this 'new normal age’, where the economy is driven by digital technology, it is vital for private and state organizations to groom personnel with data analytics skills because data is an instrumental factor propelling businesses forward. Thailand is developing quickly and consumer behavior is changing rapidly, so leading business organizations are paying greater attention to data and how to turn it into a tangible asset. Because of this, data analytics skills are a significant discussion topic among new-age business organizations.
SCB Academy, an academic arm of SCB, is recognized for its experience and expertise in developing knowledge and skills for personnel both inside and outside of the bank through modern course content catering to the needs of learners and organizations. Under the cooperative agreement with depa and AIT for inaugurating the “Data Analytics for Upskilling” program, SCB Academy has been entrusted to jointly design and develop learning courses and materials in terms of content, study cases, practical approaches, and tests to ensure that the knowledge, techniques, and preliminary skills being taught meet the real needs of learners and the labor market.
Dr. Ratthasart Korrasud, Senior Executive Vice President of depa, noted that the program is the first-ever cooperation by these three leading organizations (depa, AIT, and SCB) in an attempt to enhance the data analytics skills of the workforce to ensure that they are ready to enter a new global age driven by digital technology. The key objective of the program is to:
- Promote and encourage the development of high quality, top caliber workforce, and personnel in the digital technology area to serve the needs of society, the economy and the nation.
- Promote and encourage the exchange of knowledge and experience between organizations in the state, educational, and private sectors.
- Integrate tripartite cooperation to upgrade course development and education management.
Those qualified to participate in the program are students who will be graduating, new graduates, those entering the labor market, existing workers who want to enhance their skills, and general personnel in both the state and private sectors who want to develop data analytics skills. The program will run for one year from now until May 2021.
Dr. Naveed Anwar, Vice President for Knowledge Transfer of AIT, said that life-long learning is unavoidable during the current economic and social conditions where news and information technology are propelling changes in educational systems and labor markets. Existing learning patterns may no longer ensure life-long career sustainability for members of the new generation. Those who earn a living must adjust and be ready to learn, while industrial entrepreneurs need to develop their employees’ skills properly. Learning patterns that suit the news and information era must be able to apply mass technology and be tailored to individual needs, such as massive open online courses (MOOCs), Youtube videos, games, social media platforms, audiobooks, and podcasts. This is a good opportunity for members of the younger generation to choose any learning pattern they find suitable.
Unlike traditional learning programs, what learners will get from these courses is a focus on real-life situations and practices and the applicability of what they learn. The course preparers surveyed needs and collaborated with the private sector to design practical courses that suit labor market requirements. Each course will take only 10 hours through digital learning (anywhere, anytime, anyone). Learners can manage their learning schedule as they want.
Mr. Worawat said that collecting data and analyzing it to predict and understand change is inevitable in an age where technology is changing every second, impacting consumer behavior. Data is therefore seen as a new armory. The more any organization possesses this database, the greater it can understand consumer needs and win their loyalty. It is essential for SCB to count on personnel with data analytics skills, develop knowledge through existing “Big Data”, and make important decisions more quickly and efficiently. The more “Big Data” is valuable to organizations in every industry, the more personnel with data analytics skills are needed. This trend will proceed not just in the short term, but also in the long run.