Insight and Foresight in Data
Data is everywhere. As internet technology becomes ubiquitous, some enterprises still struggle to capitalize on big data’s full benefit.
Since 2014, Leading Edge Group Limited has been providing professional data analytics to public and private organizations seeking opportunities to maximize profits while mitigating risks.
Chief Executive Officer Henry Hui (Henry) has over 20 years in the Information Technology industry. Before he became an entrepreneur, he was the Chief Executive Officer of a leading
Information Technology company listed on the Hong Kong Stock Exchange. Henry believes experience is crucial to being an entrepreneur, “the use of data is an upcoming trend. This great
opportunity along with many years of market experience and the company’s unparalleled ability in project delivery, we entered the market swiftly and occupied a solid position.”
Insight and Foresight – The perfect combination
From data analytics, we derive both insight and foresight. Insight, or business intelligence (BI), means using the company’s existing data on top of the management’s subject matter expertise to turn complicated data into meaningful BI. By breaking the silos between the multiple data sources in traditional enterprises, and using one single platform to consolidate data about clients, products, personnel, and operating sales we can cut through the noise and identify operating efficiencies, strengths, and shortfalls. “Just like a health check, by gathering, analyzing, and consolidating data we can produce a visualized result that can be understood at a glance.”
Foresight is extracted from external data, such as social media, public data, government statistics, digital footprints, customer opinions, and other diversified big data to foresee trends in the industry. “Big data is the main driver of artificial intelligence and machine learning. In the era of big data, enterprises need experts in statistics to operate and expand the business, simply relying on brute force no longer allows efficient handling of massive and disorganized data.
By letting the computers filter, analyze, make predictions, and provide real-time data we give decision-makers the information they need, when they need it, to get ahead of trends.”
Consultation services are the next strategic offering from Leading Edge Group. Enterprises have a huge demand for these services and the market potential is as limitless as the applications of big data. Leading Edge Group recently worked with an international enterprise to establish a 3-5 year blueprint for the development of data in the Asia Pacific region. Leveraging data analysis to fuel day-to-day business growth and identify business areas of long-term growth.
“Different from some of the international consulting firms, we do not only provide a direction for enterprises, but we also dive into detailed research and analyze local statistics to conduct data localization. Geographical analytics are more accurate and more relevant to local needs.”
Leading Edge Group uses systems to gather client’s data sets in different locations, and researches in detail to define a follow-up transformational strategy. They are not only providing a strategic opinion, but also execute it with the client and follow it through the whole project. “Our professional team is composed of professional data analytic consultants with tens of years of relevant job experience. Every project would generally be assigned to a team of around 5 specialized experts, using approximately 3-6 months to review and analyze the enterprise’s past data, focusing on strengthening the enterprise’s data management and localization, to recommend the most tailored integrated enhancement plan.”
It is rare for enterprises to set up a long-term plan for data management on their own. Business is often too distracted by day to day pain points to consider their long-term strategic plans. “We need to advise clients about the importance of digital transformation. “Painkilling” only provides a temporary effect, we would encourage clients to set up mid to long-term plans for long-term deployment. such as what time should use a more diversified analytics strategy like business intelligence, artificial intelligence, machine learning, and deep learning, etc. These all require the help of data scientists.” He quipped that it is not easy to find data scientists, “Leading Edge’s teams are composed of two types of experts: computer science, statistics and data modeling experts, and experts in the client’s business area. This creates a perfect example of synergy”
Experience – Our key to success
The digital age is moving fast and modern enterprises have to move even faster. Any business that doesn’t make use of its data is allowing a valuable resource to be wasted.
Investing in data analytics generates a fairly high return but, in the past, set up and maintenance cost of Data Warehouse was prohibitive. With cloud services costs have rapidly decreased, but the bias that big data is expensive has persisted. “With Azure data service by Microsoft, enterprises only need to pay Microsoft when they use the data platform, and you can adjust the scale according to needs, just like paying your electricity bills, it is simple and convenient.”
“We are our cumulative experiences. For enterprises, improvements need to reference and leverage on that history, summarize successes, failures, and challenges then continuously evaluate what they are doing, and what their path forward is.”
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