With the digital economy becoming more mainstream, the need arose for a more personalized data approach. Digital companies are currently developing strategies to analyze their customers' data to better suit their business needs. Big data analytics is a major part of the industry, and technology companies have adopted various techniques to filter data. Silicon Valley-based enterprise software company Tibco Software Inc. is one of those, providing integration, analytics and event-processing solutions to suit clients' needs. Thomas Been, chief marketing officer at Tibco, recently spoke about the role of integrated data analytics in Indonesia's emerging digital economy.
Gilang Al Farisi
Tibco's primary focus is software, which manages and analyzes data of client companies to improve their businesses. The software does this by managing information, decisions, processes and applications of clients. Tibco, which stands for "The Information Bus Company," was founded on the idea of the interconnectivity of everything. The concept became a reality with the advent of the internet, while the rapid adoption of technology in people's daily lives became the cornerstone on which Tibco has based its business.
"We focus not only on interpreting the data for our clients, but we also provide a mission-critical input for our customers," Been said. With the interconnectivity of everything and the ease of accessing the internet through mobile gadgets, the technology Tibco has utilized is adopted as a digital business platform by most industries, even governments use the technology. "Our global reach has made us privy to the trends and business cultures of several countries and corporations, and with the experience we have accumulated, Tibco has an easier time to not only analyze the data of our clients, but also an easier time to reach new clients in new countries," he said.
Because of the versatility of the big data industry, Tibco has had a relatively simple time implanting its software technologies into clients' businesses. The company's infrastructure software focuses on real-time communication between businesses, business and consumers, and business-to-employee data transfers. Tibco provides its clients with a middleware solution, which not only provides real-time access to data between multiple systems regardless of software compatibility, but also predicting users' needs. The software company also built several specific products for its clients' needs to better tailor the software experience. "Currently in Indonesia, companies have already realized the potential of data analytics for the development of their businesses. Here in Indonesia, we collaborate with various partners, from telecommunications operators to governments, even schools and universities," Been explained.
The company has developed its business from digitizing financial services, to now working as a primary partner of telecommunications companies. But Tibco has also been busy applying its services to a variety of industries, such as oil and gas, transportation and logistics, and airlines. However, the manufacturing industry is the biggest contributor. "Manufacturing has become a great industry for us recently, because of the integration of the internet of things. They have become more concerned about what their consumers want specifically, and because of the application of digital technology, have been succeeding in meeting the demands," Been said. Indonesian businesses have evolved to a point where they understand that their relationship with their customers is the primary driving force for success. This is where Tibco can bolster its clients' efforts to understand and develop rapport with their respective markets.
Staying Ahead of the Competition
With the development of Indonesia's digital economy, Been predicts that there will be a race for industries and businesses to innovate to offer the newest services to their customers. With IoT slowly becoming a reality, there will be a more connected product development that closely fits the target market of a specific industry. What is more, application services will become a staple of businesses in Indonesia. Tibco has already gone ahead to prepare for the development the country will experience soon. "We have already been developing artificial intelligence that is advanced enough to not only perform the tasks required, but also predict and make insightful decisions for a business," Been said. He added that the businesses of the future will be valued on how they manage their data, which is why Tibco is arming businesses of today with the tools to develop.
To stay ahead of the competition and develop skilled players in the industries of tomorrow, Tibco recently partnered with Binus University to support the teaching and learning process. The Binus School of Information Systems will use Tibco's software to develop specialized workers in information technology. "We see a unique opportunity in Indonesia to develop skilled players because of the country's demographics," Been explained. "I believe with the development of the players and the rapid rise of the digital economy in the country, Indonesia will rise to new heights."