Fusionex, a company focussed on Analytics and Big Data, is riding high on the Big Data wave and appears to be doing it with the ease of a seasoned surfer. It has reported an impressive 12 customer account wins within the first year of GIANT’s launch, ahead of its initial target of 10 customer accounts.
Following the company’s recent announcement of its financial results for FY2014 where it comfortably surpassed analysts’ forecasts, Fusionex Managing Director Ivan Teh has also shared that to date, another 9 customer accounts have been added to Fusionex GIANT’s list of clientele, bringing the tally to a total of 21 customer account wins so far. Fusionex has an impressive list of clients running GIANT, including the likes of Intel (the world’s largest chip maker), AEON (the 2nd largest retailer in Japan), Lotus Cars (a world renowned manufacturer of sports and racing cars), Yeo’s (an Asian based prolific fast moving consumer goods group), China Light & Power (one of the largest utility companies in North Asia), just to name a few, and the list is growing fast.
From a business development perspective, the sales pipeline is very strong in the short and medium term, thus leading to a confident outlook that the Company could breeze through its target which is a cumulative total of 30 customer accounts by the end of its 2015 financial year.
Teh enthused that the diversification of wins across various industries for Fusionex GIANT amplifies the value of Big Data, demonstrating that the technology is beginning to gain traction among key decision makers from different industries. He shared how Analytics and Big Data, when combined, could bring varied benefits to organisations, and address the various pain points of different industries.
Teh cited how the predictive analytics element of GIANT helped a client from the automobile industry where for example, the ability to forecast the changing patterns of customer sentiments and trends based on varied data is key towards ensuring the success of new car models. In the case of fast moving consumer goods (FMCG), he shared how the use of Big Data helped reduce wastage on inventory, optimised operations and at the same time capitalised on the popularity of certain products through insights on customer preferences alongside seasonal and festive demands. He also articulated how Big Data insights on an initiative for a Smart City project has driven better planning for areas such as transportation, education, real estate and population, thus steering the project team towards planning and discussions in a more proactive, rather than reactive way. Finally, he also shared the benefits that Intel derived from its collaboration with Fusionex on its Big Data Analytics and IoT initiative, and how this can help the wider industry optimise manufacturing operations, improve yield and avoid unnecessary downtime.
“It is very exciting to see a broadening of use cases for Fusionex GIANT and Big Data Analytics across such a diverse range of industries. Whilst we have always maintained an optimism towards our offering, we did not expect this high and continuously increasing number of use cases in such a short span of time,” opined Teh. “The results that we have achieved to date are far better than anticipated, and we look forward to working with partners and customers to drive more success stories.”
Teh also shared that the company was in the final stages of negotiation with an Asian government where Fusionex currently does not have a physical presence in. Although specific details and the identity of the party could not be disclosed due to sensitivity surrounding the subject matter, it was briefly shared that the contract could be a multi-million, multi-year deal focussed on data management and Big Data Analytics, specifically in relation to immigration and cross border areas.
During the announcement of the 2014 financial results, it was also shared that the company has in its sights an optimistic target to grow the number of Fusionex Analytics GIANT customer accounts from the 12 won in the previous year by 10 times over the next few years; an aggressive target by any measure. However, given the latest wins and its increasing traction in this exciting space, one would be hard-pressed not to acknowledge that Fusionex certainly has a realistic opportunity to achieve this target in the years to come.