Best Practices Criteria for World-Class Performance
Frost & Sullivan applies a rigorous analytical process to evaluate multiple nominees for each award category before determining the final award recipient. The process involves a detailed evaluation of best practices criteria across two dimensions for each nominated company. Fusionex Group (Fusionex) excels in many of the criteria in the crowd analytics space.
“Fusionex sets a good example in showcasing the importance of collaboration in crowd analytics. This simple strategy has effectively differentiated the company from the rest.” – Melvin Leong, Global Head of Buildings Research
Strategy Effectiveness and Execution
Progress in data science and modeling techniques enable crowd solutions that use physical movements to study purchase motivations, individual preferences, and involvement rates. Enterprises can improve work processes using analytics and its associated information and communications technologies. As a result, many startups and large technology providers are jumping into the data analytics bandwagon. Fusionex believes in collaborating with other industry stakeholders in Asia-Pacific as industry convergence as necessary for crowd analytics. The company has good business relationships with government agencies and private sector organizations, one of its strategies in securing new business milestones. The strategy became useful in 2020 when the pandemic affected economies and businesses in the region. Fusionex successfully worked with the Malaysia External Trade Development Corporation (MATRADE) to organize its first virtual exhibition, MyAPEC2020, and the Penang Government for a similar trade event.
Customers’ confidence in the company proves Fusionex’s strategy effectiveness. It is well-known for understanding industry needs, solving customer challenges, and addressing unmet needs. Notably, Fusionex’s competitive strategies revolve around convenience creation for its clients’ customers, creating cross-selling opportunities for the company. For example, Fusionex signed an MoU to provide crowd analytics solutions to the Federation of Malaysian Manufacturers’ (FMM) e-commerce platform. Frost & Sullivan believes Fusionex’s work in FMM’s e-commerce platform will pave future collaborations with FMM members and lead to greater analytics adoption in the manufacturing industry. The company works closely with all stakeholders, from employees to suppliers, to ensure seamless strategy execution. Fusionex also invests in talent development and reward programs for its employees to remain competitive in the market and serve customers better. Furthermore, the company believes in respect and fair treatment toward its vendors and makes prompt payments.
Competitive Differentiation and Stakeholder Integration
Enterprises’ growing requirement for effective, low-cost solutions and analytical tools to understand consumer preferences and optimize business processes will drive crowd analytics adoption. Market participants need to differentiate through unique and innovative propositions and technological advancements such as machine learning (ML), deep learning (DL), and big data analytics (BDA). With the ability to respond to the trends mentioned above, Fusionex is one such market player. The company’s recent contract win with a financial institution is a testament to its competency in workflow optimization, data management, document management, and business insights generation. Artificial intelligence (AI) and ML power Fusionex’s platform for this client, used to improve the financial institution’s operational efficiency.
“The company designs its advanced solutions to cater to customers from all industries. This is truly a competitive differentiation in integrating smart city stakeholders with its highly customizable crowd analytics platforms.” – Melvin Leong, Global Head of Buildings Research
The company also became the technology partner of Aisportz, Malaysia’s first virtual fitness platform, in 2020. This demonstrates Fusionex’s differentiated capability and competitive advantage in providing data management solutions to spearhead Malaysia’s development of a smart lifestyle as a component of smart city transformation. The company understands customer challenges and avoids conventional ways of providing solutions. Unlike its competitors, Fusionex adopts a flexible approach or solutions model that offers customers quick wins and results. The company carefully invests and designs analytics platforms that are suitable for all industries and can address various customer operational issues. In principle, Fusionex solutions are highly customizable, proving its customer-centricity.
Customer Ownership Experience
Crowd analytics is changing rapidly, moving beyond camera-based surveillance and video analytics toward intelligent analytics that offers customers real-time, accurate, and actionable insights to ease decision-making. In particular, crowd behavior analytics can enhance customer experience by studying variables such as footfall, demographics, and emotional and behavioral patterns. Therefore, market participants must provide total customer solutions as the ownership experience entails clients’ customers. Fusionex is a leading player in addressing the market trends above. The company recently worked with an international retail and financial services company to modernize the client’s customer engagement and optimize business processes. Additionally, Fusionex developed the client’s digital strategies to predict consumers’ behavioral pattern that, in turn, enables more effective marketing and shopping campaigns. The company also assisted an internationally renowned oil refining and marketing company with a state-of-the-art customer analytics platform. Fusionex’s platform determines consumer consumption patterns, demographic profiles, and purchasing behaviors at this client’s 1,000 service stations. The company analyzed the data with the client to manage customer records and segment products and services according to their needs.
The examples above are testament to Fusionex’s focus on three customer value propositions: increasing client revenue, enabling operational cost savings, and facilitating operational efficiency. These propositions are vital to the company’s success in using its crowd analytics platforms and technologies to ensure a total client ownership experience. Fusionex’s synergistic team collaboration among its sales, project management, and research and development (R&D) executives further support the ownership experience. The success of its overall customer strategy is evident in its financial performance in 2020. Despite the pandemic, Fusionex successfully helped customers improve operations using digital tools and analytics platforms. As such, the company grew its revenues by approximately 40% in 2020.
“Fusionex positions itself as a business partner for clients by improving their operations and revenues with crowd analytics. This resulted in revenue growth of about 40% in 2020 for the company.” – Melvin Leong, Global Head of Buildings Research
Crowd analytics and other associated technologies such as AI, ML, DL, and BDA are emerging applications in many industries. However, awareness of its benefits and crowd analytics adoption remain nascent. Furthermore, competition is intense, with many startups and established digital technology providers contending in the smart city industry.
Fusionex advocates the benefits of digitization via several initiatives. The company partners with educational institutions, such as Heriot-Watt University and Universiti Teknologi MARA (UiTM), to foster graduates with high digital skills and provide employment and internship opportunities. Such partnerships promote analytics and smart city development and strengthen Fusionex’s position as a market leader. The company also established Fusionex Academy to work with academic institutions and training partners to nurture experts in BDA and other analytics applications. The company is active in corporate social responsibility (CSR) activities. Examples of its successful CSRs in 2020 include meal sponsorship for Masala Wheel, personal protection equipment (PPE) production for healthcare frontliners, and monetary donation to Assunta Children Society (ACS). In giving back to society, Fusionex indirectly created awareness of its brand and competency in digital technologies.
“The company is undoubtedly active in CSR and plays a role in the education sector as well. Fusionex believes in nurturing talents and is always ready to contribute in knowledge sharing.” – Melvin Leong, Global Head of Buildings Research
The initiatives mentioned above position the company favorably as a reputable ICT company that provides reliable analytics solutions in smart city development. Last but not least, Fusionex’s brand image stood out when International Medical University (IMU) appointed the company’s group CEO and founder as a member of the Board of Studies for Bachelor’s in Digital Health in 2020. The appointment proves its expertise in digital technologies and agility in smart healthcare development.
Fusionex is a key player in analytics and digital solutions for the government and private sectors. In addition to its in-depth technical knowledge, the company has proven strategies in business growth, talent acquisition, and product development. It has emerged as one of the most competitive crowd analytics solutions providers, contributing to several smart city pillars, such as smart mobility, smart lifestyle, and smart healthcare.
With its strong overall performance, Fusionex earns Frost & Sullivan’s 2021 Asia-Pacific Competitive Strategy Leadership Award in the crowd analytics for smart city solutions industry.