Data to Empower Business Opportunities into more Sustainable projects or services.
By: Luca Casciola
Business opportunities arise once in a while, it is better to be ready to take them when it’s the time. To have the right information before it becomes of public domain is often the key competitive advantage that makes you identify and/or close a deal before someone else does.
You might think that reliable information and business comes from personal network, however objective data could highlight market trends or prove personal intuitions, providing you the foundations to establish good business connections.
How to interpret the data
Data does not provide you information, you must know where and what to look for. Instead data must be used to validate hypotheses, a process which combines market expertise with analytics resulting in asking the key questions and in interpreting the results effectively.
A good Data Analyst must have an overview of the whole data sources owned by its company, and should be able to reply immediately to three questions: “Do I already have the data needed to answer this question?”, “What is the output that would convey information more effectively?”, “What is the data transformation process required, and how much time is required to arrange such analysis?”
AI = Machine Learning & how to leverage data analysis techniques
First of all let’s say that AI is a marketing name which indicates the more general Machine Learning category of algorithms.
“We must use different ways to analyze data depending on 4 factors: scale of the project, the ability of the investor to mitigate risk, the time window of the investment and the reliability of the data we have.”
Simple statistical models can predict general trends in markets, which are usually very accurate on a larger scale and on long time horizon. These are related to macro-investments with low volatility. This type of analysis is also quite robust to small errors in data.
As we increase the level of the detail, we shorten the forecasted time window and we restrict our market segment, we might start using more complex data analysis models like machine learning. This type of analysis might really spot a tiny business gap. However, as the model becomes more complex also the accuracy of the prediction decreases (the volatility of the investment increases), the model becomes heavily influenced by the quality of the data and every result requires the judgement of a professional expert to validate the prediction.
Where to get data
Reliable information is a precious asset, competitors keep it secret and its availability is often very limited when you need it. To collect data and information requires a long time, constant effort and many work hours. At Unified International we are committed to continuously grow competence and to collect validated data, with the highest standards of transparency and data management.
The experience of data analytics
Unified International makes use data analysis to corroborate business development plans and to identify business opportunities, with a long history of successful projects in Aviation, and we can really say it made a difference in identifying outside in market needs and transforming them into concrete sustainable projects.
“Do you want to know how?”