K-Matrix Digital Intelligence Ltd
- HKGCC Membership No. :
- HKK0452
Digital Decisions
In 2004, even before today’s influential social networks had taken off, and the world was still recovering from the dot-com bubble, entrepreneur Edmund Lee knew something was afoot that would reshape the way the world communicates.
He co-founded K-Matrix Digital Intelligence Ltd., with three other partners, to help companies analyze what has come to be known as “big data.”
Recalling his decision, Lee said the United Statesalready had similar companies that specialized in analyzing social blogs. “At that time online blogs and forums started to gain popularity in Hong Kong. Then I learned from the U.S.experience and thought it could reshape social trend in the future,” he explained.
Riding on the incubation programme offered by Hong KongSciencePark, which provides technical assistance and operational support to fledgling companies, K-Matrix Digital Intelligence Ltd. was able to flourish.
Social media analysis
“Digital intelligence” (DI) is still something of a mystery to the general public. According to Lee, it is actually a new term in Hong Kong, comprising elements of ICT, marketing and research.
“DI is similar to the famous concept of business intelligence (BI). The latter is to analyze internal business data, while the former is to transform external data from social media – those beyond enterprises’ control – into meaningful and useful information for business analysis,” he explained.
Lee stressed that social media is no longer solely about public opinions: “social networks are more than meet the eye. In fact, they greatly reflect consumers’ thoughts and preferences, laying the foundations for market development and future strategies.” In the past, companies only saw digital media as a channel for advertising and promotion. “As its spreading power is much stronger than conventional media, social media is actually the best means for companies to communicate with consumers and establish customer relationship management,” he added.
Lee believes this form of marketing and communication will gradually become vital to corporate development and result in more digital key performance indicators (KPIs). “Social media analyses of large and medium enterprises are already scientific and well established,” he said.
Facing an ever-changing social environment, the company initially found it difficult to meet all clients’ requirements with its limited manpower. They are currently developing more analysis models and standardized systems to optimize their services, and proactively cooperating with other marketing research companies to offer clients a “total solution” with both conventional and new DI analyses.
Diversified development
Now in its tenth year, K-Matrix Digital Intelligence Ltd. continues to steadily grow and is expanding into the Mainland market. “The use of social media for marketing and branding is predominant among local enterprises, while we specialize in traditional market research, such as collecting questionnaires via social media in China,” said Lee.
He believes Hong Kongcompanies’ innovation and international experience are a huge advantage when doing business in the Mainland. “We can serve as a bridge between foreign enterprises entering the Chinese market, and the Mainland enterprises wishing to familiarize themselves with the foreign social networks,” he explained.
Sensitiveness to statistics, willingness to learn and an open-minded attitude are what Lee called the essential qualities for joining their digital intelligence team. He said, “All of us have to learn continuously and stay relevant to the social media development. As long as you embrace new ideas, you do well in any sector, regardless of your background.”
As a pioneer in DI analysis, K-Matrix Digital Intelligence Ltd. is looking to raise the bar for DI development in Hong Kong. “Such innovation is still at an early stage in our city, compared to the U.S.and China,”Lee said. “In the long-run, we hope to integrate DI analysis into the existing portfolio of businesses, turning it into a corporate necessity.”
Company: K-Matrix Digital Intelligence Ltd
HKGCC Membership No. HKK0452
Website: http://www.kmatrixonline.com
Contact: 3526 0290
