Antuit, a Big Data analytics solutions firm based in Singapore is partnering with the Institute of Systems Science (ISS) at the National University of Singapore (NUS), to continue to strengthen its credentials as a key emerging player in the fast growing Big Data analytics services market.
Against an operating landscape of rapidly changing consumer demand and a dynamic business environment, organisations today face an enormous challenge in attempting to predict demand patterns and make high risk inventory and sourcing decisions accurately and on time. As a significant step in the build out of its supply chain Centre of Excellence (COE) in the region, this collaboration focuses on developing a unique Trade Index leveraging proprietary data collected by Antuit.
The Trade Index is intended to provide robust quantitative insights into Singapore’s import and export trends at an aggregate and sector level. When combined with client data through statistically significant quantitative models, these insights will enable local corporations to proactively predict sector specific consumption and sourcing trends with greater accuracy. This leads to significantly improved operational and strategic decisions in key areas such as sourcing, inventory management, distribution and allocation of working capital investments.
The Antuit-ISS partnership will initially concentrate its efforts on the consumer and enterprise electronics sectors in the Singapore/ASEAN region, with longer term plans to expand the Trade Index and its application geographically and to new sectors.
An aggregated version of the Trade Index will be made available and published periodically on Antuit’s website. Antuit will also be using the Index at a more granular level on a project basis with its clients – for example, using the Trade Index to improve demand and supply forecast accuracies for our clients.
Local corporations can better derive demand forecasting by incorporating the Trade Index into the predictive forecasting models. Traditional forecasting method which solely relies on historical data no longer yields satisfactory results. Antuit believes that by incorporating macro and microeconomic signals into traditional forecasting models, the forecasting accuracy can be improved significantly.
The Trade Index could also be used to monitor the health of the various industries on a more regular basis (for example: weekly), instead of what is being done currently, which is on a quarterly or at best, monthly basis.
“Our joint research with Antuit will focus on innovative and practical ways of using Big Data insights to empower enterprises to make critical business decisions better. We anticipate that the synergy between ISS and Antuit, by sharing our resources, expertise and proprietary data, will drive further innovation and significant business and financial impact in a way that we hope will ultimately reinvent aspects of the supply chain decision-making process across diverse enterprises,” said Dr Carol Hargreaves, Chief of Business Analytics Practice, ISS at the NUS.
Led by Arijit Sengupta (Founder and Managing Partner), Neeraj Bhargava (Chairman) as well as other key executives from diverse fields including entrepreneurs, tech innovators, management consultants, data statisticians and corporate professionals, Antuit is well positioned to simultaneously target the rapidly growing US and Asia-Pacific customer bases for analytics services with cutting-edge offerings for both supply chain and sales and marketing functions.
Earlier in August, Antuit had announced an initial investment of USD $3 million led by Zodius Capital, along with the acquisition of Marktwell, a specialized New York-based, business analytics company. Started in March 2013, Antuit now has established operations in Singapore, New York and Bangalore, with a senior team of former management consultants, industry specialists and analytics veterans and has already signed up four Fortune 500 clients. They include companies in the consumer packaged goods, consumer foods and retail/direct selling space.
Antuit’s mission is to enable enterprise clients unlock business value from Big Data today within the constraints of their budgets and maturity on the Big Data curve, while building industry leading capabilities for the future over the next three to five years. A distinctive part of its value proposition will be combining traditional business analytics with new consumer insights from social media and digital networks to enable business executives to accelerate and enhance the incisiveness of their decision-making.
“Antuit is an ambitious start-up that is born global and already running hard to become a leader in the exciting Big Data analytics market,” said Sengupta. “We are delighted to partner with Zodius, our new colleagues from Marketwell as well as ISS at NUS to combine our experience and intuitive insights on business problems, and attempt to solve them through a collaborative approach that combines domain expertise, in-depth analytics and thoughtful execution. Our aspiration is build a truly global, top tier company in this space over the next five years and we are sharply focused on aggressive client expansion, flawless execution, proactive capability building and targeted acquisitions to get there.”