In a new survey released by Sea Asia 2017, maritime leaders have revealed that a severe skills shortage is preventing the industry from effectively harnessing Big Data and ultimately negating performance and cost-saving potential.
According to the survey, 63 per cent of the leaders believe the lack of access to Big Data is holding back their ability to utilise it, with only 12 per cent saying they are currently compiling, analysing and storing Big Data. The leaders also identified that the key areas where they see potential benefits from the use of Big Data are real time information on vessel performance (77 per cent) and cost savings for their respective companies (70 per cent).
The survey, conducted ahead of Sea Asia 2017, was carried out among maritime leaders to gain insights into key trends in the industry. The trends highlighted in the survey will form part of the discussions taking place at Sea Asia 2017.
Recognising the benefits that Big Data brings to the industry, Mr Oh Bee Lock, Head of Group Technology at PSA International Pte Ltd, said leaders need to start looking more closely into how data analytics can augment human decisions, while bringing the current and future workforce up to speed.