Singapore's government agencies are increasingly investing in data, infrastructure, and big data talents. Of late, the island country also undertook an initiative to form a consortium of researchers and think tanks to become the world’s first Smart Nation. The move will improve the adoption of analytics in the country, and help the country transform public sectors such as transport, health, business productivity among other areas.
Reports suggest that the analytics software market in the country will grow at a compound annual growth rate of about 8.6 percent between 2016 and 2019, for four specific segments. These segments include advanced and predictive analytics, data integration and access, end-user query, reporting and analysis, and marketing.
Francis Fong, Managing Director, SAS Singapore shared, “Analytics has always been integral in extracting in-depth insights for business decisions. With Singapore's Smart Nation vision, this role is only set to increase in importance.” This growth in analytics software market can be attributed to new growth opportunities, especially those in areas of self-service data discovery.
Singapore has seen a spate of companies emerge in this space, who provide end-to-end analytics solutions. But which companies are really making a difference for their clients?
Founded in 2013, the customer Intelligence & experience company allows insurers and banks to provide optimum level of customer experience. The firm makes use of leveraging Predictive Analytics & Machine learning technologies, to deliver actionable insights at the Point of Decision.
Aureus' cloud-based Analytics products have robust features, sport an easy to use interface, and comes in a subscription based pricing model. Besides Singapore, the firm also has offices in Mumbai and New York.
One of the fastest growing big data analytics companies from Singapore, Crayon Data intends to simplify the world’s choices. Enterprises can furnish ultra-personalized choices to their customers, using Crayon’s proprietary platform – SimplerChoices. The platform contains data that reflect 1 billion tastes, 25 billion taste connections, and 25 million products.
Besides, the firm has been recognized and awarded on various global platforms. It was selected as one of the top 50 emerging tech companies in India, at InTech50 2015. The company was found in the year 2015.
A consulting and financial engineering firm, InfoTrie was founded in 2012. The organization showcases expertise in Information Systems, Artificial Intelligence, Financial Engineering & Quantitative Modelling.
The firm offers up to 15 years of sentiment history as direct API access, or through their data vendor partners; leveraging the most recent "Big Data" trends such as Apache Spark, Kakfa and Storm. The firm has also established its offices in India and Europe.
Lynx Analytics aims to solve real, complex problems by building scalable graph analytics solutions for modern businesses and governments. The team of experts at the organization have academic links to the US Ivy League, INSEAD, and NUS.
The firm helps its clients to reduce customer churn, prevent financial fraud, optimize traffic management, or accelerate medical research. The firm had received the 2015 Frost & Sullivan "Asia Pacific New Product Innovation Award" for Big Data Network Analytics.
The startup was founded in 2013, and has since then combined artificial intelligence, natural language generation, and beautiful visualizations to help marketers make smarter decisions. With Nugit’s solutions, clients can transform data into decision-ready reports which flow straight back into their workflow. The firm specializes across areas such as data analytics, google analytics, data scientist, online advertising, data reporting, data insights, and more.
The company was founded in 2009, with a focus on the semiconductor chip design industry. Across the analytics sector, Plunify has successfully leveraged data analytics and machine learning techniques to create new capabilities for FPGA design in a standalone tool called InTime. This marks the first ever use of machine learning for chip design.
The organization delivers solution across areas such as Predictive Analytics, Business Intelligence, Enterprise Planning & Budgeting, Enterprise Marketing Management and Enterprise Content Management. Sift Analytics was founded in 1999.
With Sift Analytics, enterprises obtain clear, immediate and actionable insights into current performance. Besides, they can also predict future outcomes for effective planning.
Founded in 2012, this marketing and advertising-based firm focuses on web, mobile, and social analytics. It helps companies in making a transformation towards a data-centric framework. The firm interprets large digital data sets to provide businesses with insights into the behaviors of their customers. They also assist enterprises in optimizing the market performance.
Essentially a ML-based forecasting platform, Tookitaki was founded in 2014. The organization is striving at transforming the space from rules-based applications to adaptive systems. This not only helps drive operational efficiency, but also decrease chances of decision leakages caused though false positives.
Singapore based Visenze leverages Artificial Intelligence to power a great shopping experience. Some of its solutions include automated product tagging, search by image and offering visually similar product searches. The startup counts Indian fashion e-tailer Myntra, ASOS, Lazada, Japanese e-commerce platform Rakuten among its major clients.
Not just that, the progressive city state is also plowing significant investments in boosting Singapore’s Artificial Intelligence capabilities by setting up AI.SG. Under this scheme, various government agencies, research institutions and startups would come together to resolve major challenges through AI.
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Richa Bhatia is a seasoned journalist with six-years experience in reportage and news coverage and has had stints at Times of India and The Indian Express. She is an avid reader, mum to a feisty two-year-old and loves writing about the next-gen technology that is shaping our world.