Accelerating the process of solving business issues, ThinkCol advised ASW’s big data team to build ASW AI.Lab. The Lab brings together startups and consulting firms to solve real life business objectives through data science, maximizing the company’s potential. They construct prototypes and demos, then pitch their ideas to the ASW managements who aims to implement their projects in bigger scale to solve specific business pain points.
Over the short span of nine months, the ASW AI.Lab helped solving 6 business problems, created more than 20 prototypes, attracting around 30 companies to join the Lab. To quote one of the business cases as an example, a prototype was developed to create an algorithm to measure store cannibalization to develope a simulation to understand the individual customer lifetime value.
The ASW AI Lab has also gained prominence as a platform of strong communal spirit where entrepreneurial and data science ideas thrive and come to life. Long term relationships with various startup communities such as Austrade and HKU were forged. ThinkCol’s role of understanding, cleaning and massaging the data ensured that the deliverables suggested were viable business solutions to ASW. ASW AI.Lab is the prime example of how data science can facilitate real business decision making, facilitated by ThinkCol.