Open Data Initiative
LFD prides in itself as a truly Pakistani organization, with nationalism being at the heart of all that we do. Our vision to represent Pakistan globally is manifested in our solutions and our products, with Pakistan Identity Check being at the forefront. While our LMS serves as a global intelligence database (click here to reach more about LMS), PIC has been specifically tailored for the Pakistani market, a solution that was not available earlier.
Insights from Outside
Companies who are analytics and data driven start their journey through the company proprietary data sets which track the company’s own activities and stakeholders such as sales, cost, customers, vendors and inventory. By looking inward, businesses are able to create value through analytics by aiding decision making in areas such as efficient resource allocation, cost optimization and strategy evaluation.
However, by just focusing on internal data, businesses may cut themselves into a filter bubble by overlooking external data which today is considered equally critical as internal data. Hence, by just focusing on company generated data only, the analytics engine is about 50% effective. It is surprising though that how easily the effectiveness can be improved by incorporating relevant external data in analytics based decision making.
Challenges of External Data
Companies who value External Data, may still stay back from investing in it, as they have some challenges such as:
Reliability
Reliability of the Source
Accuracy
Accuracy of Data
Clean Data
Effort required to make it available for analytics
Data Access
Access to data
Fragmented Data
Data is fragmented over a multitude of resources
Un-Updated Data
Data available is not frequently updated
Why Open Data
LFD in its vision to drive data driven analytics and decision making, has developed a ground breaking product of Open Data which enables companies to access data from a diverse set of sources. Open Data uses a very intuitive and empirical approach which makes data exploration fun and enables discovery of insights. Open data makes available critical external data sets which can serve as a rich alternative data set such as Demographic, Economic, Education, Weather, Quality of life and Standard of living etc. The alternative data will complement the internal knowledge repository to enhance insights for better decision making to gain competitive edge.
Our Open Data Initiative is the first of its kind in Pakistan, where we bring to you all forms of available data, but in a manner that is cleaned, vetted, structured and actionable. We sift through mines of information to bring to you what you need, in a form that you desire by using the 4 pillars of open data.
Analytics powered by Open Data
LFD in its vision to drive data driven analytics and decision making, has developed a ground breaking product of Open Data which enables companies to access data from a diverse set of sources. Open Data uses a very intuitive and empirical approach which makes data exploration fun and enables discovery of insights. Open data makes available critical external data sets which can serve as a rich alternative data set such as Demographic, Economic, Education, Weather, Quality of life and Standard of living etc. The alternative data will complement the internal knowledge repository to enhance insights for better decision making to gain competitive edge.
Our Open Data Initiative is the first of its kind in Pakistan, where we bring to you all forms of available data, but in a manner that is cleaned, vetted, structured and actionable. We sift through mines of information to bring to you what you need, in a form that you desire by using the 4 pillars of open data.