MANILA - The Philippines is nearing a big data "boom" as more companies look to data analytics, with telecommunication companies and banks leading the way, according to a market research firm.
Big data entails analysis of online information to reveal patterns and trends in human behavior which can be useful for companies.
"We are at the cusp of big data boom, but behind others that use it for transforming government, urban planning," Cobena Business Analytics and Strategy president Francis Del Val told ANC's Early Edition.
"This will work in the Philippines because we are among most connected countries, therefore we generate a lot of data on mobile phones on the Internet, so it's really about harnessing all these data and being able to put it to good use," Del Val added.
Data privacy and safety, however, remains a concern for consumers, he said.