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HKBU, and HKFEC launch the Big Data Consultation and Study in Hong Kong

Immediate Release

On 26th July, 2018, Department of Economics, Business School of Hong Kong Baptist University (HKBU), and Hong Kong Federation of E-Commerce(HKFEC) are delighted to announce the launch of “Big Data Consultation and Study in Hong Kong” together. The scheme offers free consultation services and conduct a study to understand the current adoption of Big Data and relevant technologies, also receives support from the Support and Consultation Centre for SMEs (SUCCESS) of the Trade and Industry Department.

HKBU has been adopting advanced technologies in their research and education, so they are willing to introduce the scheme and investigate more rooms of adopting technologies in various aspects. Leveraging HKFEC’s network and HKBU’s expertise, consultation services aim to improve knowledge of SME participants and help them utilize Big Data in their business under digital transformation, facilitate their growth and improve competitiveness of business. The scheme will mainly focus on 4 main industries of Hong Kong, including retail, travel, food and beverage, and finance. Also, the study will help the society to understand the current status about Hong Kong enterprises utilizing data and advanced technologies, to further indicate the direction of promoting wide-spread use of Big Data in the new digital era.

“It is important to understand the current situation of adopting Big Data in business nowadays,” said Mr. Joseph Yuen, Chairman of HKFEC. “When 5G is coming, the era of Big Data will arrive soon. In order to stay competitive, Big Data will be an important tool to help improve performance of the whole business by providing forecast and hidden insights. While IoT is being widely used and much data is collected, it could be not analyzed and hence the resources are wasted. Through the consultation and study, we hope to contribute in the the society, meanwhile, educate SMEs to leverage their resources and develop precise strategies, to advance the development of economy of HK as a whole.”

Under the aggressive promotion of adopting technology by the HKSAR government, such as Hong Kong Smart City Blueprint and Innovation and Technology Fund for Better Living, it is clearly shown that the direction of development in every aspect of the society will be linked to technology. Among all, Artificial Intelligence (AI), Machine Learning, Cloud Service, Internet of Things (IoT) and Big Data, are often discussed by the public, on the revolution brought to life and business operation. In terms of Big Data, exploratory analytics on data can help discover hidden pattern and trend of customers. This can definitely help companies to develop appropriate strategies to attract existing and new customers, potentially improve profitability and market positions. Apart from assisting SMEs to grow, the ultimate goal of the scheme is to introduce a report and raise public awareness on the progress of adoption of technology.

“We are glad to be part of the scheme,” said Dr. Cheng Yuk Shing, Head of Department of Economics, HKBU. “The collaboration will enhance our interactions with the industry. The use of big data has often been discussed in different commercial sectors. It would be vital to understand the current situation of business applications, and consider how to further promote wider adoption.
Faculty members of HKBU are actively using data analytics skills to conduct research and have been strengthening the education in this regard.”

With the expertise of HKFEC members, professors and postgraduates of Department of Economics, Business School of Hong Kong Baptist University (HKBU), we are able to provide professional advices to participants. The scheme will first conduct in-depth consultation with companies from various industries, following by surveys conducted with SMEs to understand the big picture of Big Data adoption. A constructive report shall be released in 2019. Interested parties may submit application and learn more about the scheme in the HKFEC website.

The consultation and study scheme starts from now to early 2019. The application is open for all HK companies. For more details of the scheme, kindly contact Department of Economics, HKBU, and HKFEC.
About Department of Economics, HKBU (https://econ.hkbu.edu.hk/eng/main/Index)
The Department of Economics at Hong Kong Baptist University is committed to excellence in teaching and research. Its faculty members are known for conducting in-depth research in various economic fields. Many of their research projects in recent years are directly linked to data analytics and the digital economy. Always faithful to the School’s tradition of engaging with the industry and the community, faculty members often offer professional views and opinions to the media, and provide advices on strategy and policy to the businesses and the public sector.

About Hong Kong Federation of E-Commerce (HKFEC – https://www.hkfec.org)
Facebook – www.facebook.com/hkfec.org
The Hong Kong Federation of E-Commerce (www.hkfec.org) was established as a non-profit organization to bring professionals and all parts of e-commerce businesses together to share the latest news, technology and opportunities on a common platform. Their goal is to make Hong Kong a better place for e-commerce. HKFEC’s main objective is to encourage mutual benefits to all e-commerce players, from platform owners, online shops, online media, online service providers to logistics and couriers. HKFEC also closely cooperates with overseas e-commerce organizations to make Hong Kong the gateway for e-commerce in China.