In the modern economy, information is an asset of great importance and has various benefits. Big Data and Data Analytics are considered as the significant power to drive the government sector and private sector as well as to develop the economy and society with sustainability. Digital Technology has played a huge role in the development of country, such as Thailand 4.0 and Digital Economy or Digital Thailand. In terms of Big Data, it is large and complicated information, so it is difficult to use the former method in keeping and analyzing the information.  Data Analytics is one of the methods to process Big Data to manage agencies or to reach other purposes. Firstly, it is started with organizing those data into a pattern that ready to be processed with technology or a set of commands and built models. Then, the analyzed data will be used or be interpreted by experts with those technologies. Data analytics can be divided into 3 methods; 1). Descriptive analytics is to show the results of business transactions, events, or activities that happened or might happen; 2). Diagnostic analytics is to examine data or content to answer the question, “Why did it happen?” and also to explain the relationship between each factor and variable; 3). Predictive analytics to identify the likelihood of future outcomes based on historical data.

Currently, Business Intelligence, Real-time Analytics, or Machine Learning are used by agencies and organizations to enhance decision-making and productivity. The data analytics will make the work more efficient; moreover, it also eliminates unnecessary processes and costs. Furthermore, it will help risk management in different dimensions as well as building new opportunities. In the past year, government organizations such as Bank of Thailand, Rubber Authority of Thailand, and Office of Agricultural Economics have been giving great importance to Big Data and Data Analytics to make the most advantage of data and to prepare for the next digital transformation.

In terms of Rubber, Big Data and Data Analytics are very beneficial in connecting the information of supply chains, including an upstream, middle stream, and downstream, to use in planning, monitoring, and analyzing to find new opportunities in agriculture, industry, and rubber trading. Furthermore, Big Data and Data Analytics will solve the sustainability issue, which is the world’s concern recently. However, there are still issues that need to be considered carefully, such as data ownership, data privacy, and data security.

The Thai Rubber Association realized the importance and urgency of data management. We hoped that it would bring the rubber industry benefits, and we expected that Big Data and Data Analytics would be the important guideline in the sustainable development of the rubber industry.  

Mr.Chaiyos Sincharoenkul

President

The Thai Rubber Association