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Aerospace giant Boeing officially opened the doors at its new data analytics laboratory in Vancouver’s Yaletown neighbourhood on Thursday, while rebranding both the lab and Boeings Richmond facility — previously known as AeroInfo — as Boeing Vancouver.

The lab, which will house 50 data analysts and other staff, will study how Boeing clients can save money through smart planning — such as planning flight routes so that planes needing certain replacement parts will be landing at or near airports where those parts are in-stock, dramatically reducing repair costs.

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The following are five items to take away from the announcement.

1) Boeing Vancouver becomes the largest data science group in two key categories.

“I believe we are certainly the largest data science group in Vancouver, but also in the global Boeing organization,” said Bob Cantwell, president of Boeing Vancouver. “And really, that’s all because of the talent — the talent that exists here in Vancouver.”