Meeting the need for big data talents in the Singapore maritime industry : shipping sector

• Main Author: Aik, Jie Xin
• Other Authors: Chew Ah Seng, David
• Format: Final Year Project
• Language: English
• Published: 2018
• Subjects: DRNTU::Engineering::Maritime studies
• Online Access: http://hdl.handle.net/10356/75282
• Institution: Nanyang Technological University

The maritime industry is a global industry that is moving a huge percentage of consumer goods every day. Big Data, Internet of Things, blockchain technology are some of the key words that have been prominent in recent years and these also appeals to the maritime industry. This is especially so as Singapore moves towards being a smart nation and wants to establish herself as a leader in the global maritime industry. One of the strategies that Singapore is deploying is to develop a vibrant maritime innovation ecosystem and promote digitalisation. However, the maritime industry is relatively slower in adopting such technologies and limited research has been conducted on the implementation of Big Data in the Singapore’s maritime industry. Therefore, this paper aims to bridge the gap and examine what else can be done to meet the lack of Big Data talents that can support the Singapore’s maritime industry, particularly the shipping sector. Surveys and interviews were conducted to engage stakeholder’s opinions and views on the topic. Generally, most respondents agree that Big Data is important and can be exploited to enhance the organization’s global standing. However, not all of the players in the shipping sector are implementing Big Data due to various reasons such as lack of financial resources or even human resources. The government has initiatives in place and encourages the maritime industry to embrace technology for the future. This paper will also provide possible solutions that the shipping sector can consider to help them in the implementation of Big Data. Some of the solutions that the Singapore’s maritime industry can consider includes more aggressive marketing to attract Big Data talents to join the Maritime industry as well as forming up a team that consists of experts in their own field of expertise such as technical aspects and business domain knowledge aspects. Shipping companies can also consider doing more collaboration with IT firms or even directly with suppliers. Nevertheless, shipping companies should not limit themselves to just Big Data but also look to utilizing other technologies such as blockchain technology to complement the implementation of Big Data.