[Hong Kong, 4 June 2015] Hong Kong Applied Science and Technology Research Institute (ASTRI) and Megasoft Limited signed an agreement to officially kick-start their partnership on the Industry Collaborative Project (ICP). Mr Matthew Man, Chief Executive Officer of Megasoft Limited and Dr Frank Tong, Chief Executive Officer of ASTRI, signed the agreement on behalf of the respective companies.

The Industry Collaborative Project aims to develop a big data analytics platform for luxury jewellery and fashion brands.

Retailers can currently obtain comprehensive customer data from a variety of in-house and external sources. Through scalable distributed computing and data analysis, this data can be transformed into valuable business intelligence to provide insightful predictions for wiser decision-making, strategic planning and proactive management.

Exploring the correlation between multiple data sources from customers and stores, the big data analytics platform derives predictive and descriptive insights to maximize sales performance and improve operational and marketing effectiveness.

The project is supported by the Innovation and Technology Commission of The Government of the Hong Kong Special Administrative Region. The Innovation and Technology Fund subsidizes projects that increase productivity and competitiveness of the local economic activities.

Hong Kong Applied Science and Technology Research Institute (ASTRI) was founded by the Government of the Hong Kong Special Administrative Region in 2000 with the mission of enhancing Hong Kong’s competitiveness in technology-based industries through applied research. Website: archive.astri.org

Myndar, a registered brand name under Megasoft Limited, offers unique IoT solutions for luxury retail infrastructure. Myndar revolutionised how the retail environment operates and offers a new dimension and holistic view to big data and business analytics. Website: www.myndar.com