City University of Hong Kong (CityU) and IBM (NYSE: IBM) signed a Document of Understanding (DOU) on 15 December to establish the Center for Business Analytics. Featuring IBM’s advanced big data and analytics software, the Center aims to enhance CityU’s Research and Development (R&D) capabilities, support the University’s curriculum and talent development, and build a healthy eco-system between the University and the industry in big data and analytics.
With more than 2.5 billion gigabytes of data created each day, data is fast becoming the next natural resource, like steam, electricity and oil were for the Industrial Age. Through applying analytics, value of data is unlocked to improve and change our lives, business and society.
“Data, converged with emerging technologies such as mobile, social, Internet of Things (IoT), advanced analytics and cognitive computing, is transforming life, industries and professions. As part of IBM’s commitment to helping Hong Kong embrace big data analytics to innovate and transform, we are delighted to partner with CityU to nurture a new generation of data-savvy business professionals who will contribute to Hong Kong’s growth and development,” said Mr Tony Tai, General Manager, IBM China/Hong Kong Limited.
The new Center will help foster new talent and build new relationships between the University and various industries by applying sophisticated analytics across more disparate data sources. It will help organisations to harness data for creating competitive advantage, and transforming their processes or models to differentiate and win in the big data era.
"The Center for Business Analytics - powered by IBM, is a testament to CityU’s vision combining complemented strengths to meet the needs for big data and analytics in Hong Kong," said Professor Way Kuo, President and University Distinguished Professor at CityU. "It supports our strategic direction in the development of big data analytics and serves as a joint platform for education and R&D in this arena. It also serves as a bridge for collaboration with the industry.”
Under the new agreement, IBM will provide advanced big data and analytics software to CityU for establishing the Center for Business Analytics - powered by IBM. It will be designed with three goals in mind:
Support CityU’s curriculum and talent development in big data and analytics related disciplines;
Enhance CityU’s ability in research and development in big data and analytics related projects;
Bridge the relationship between CityU and industry to maintain a healthy eco-system.
In addition, the Center will be open to all teachers and students at College of Business to support the University’s teaching, research and developments.