June 6, 2018
During the IDA Business Analytics Exhibition and Seminar held on 31st May, IDA announced that industry partners and itself will be investing a total of $5.3 million to develop a suite of Business Analytics shared services for the retail and wholesale sectors.
CyanSYS is one of the 3 selected service providers through a Call-For-Collaboration (CFC) to provide analytics services. Through Inventory Optimisation, CyanSYS will enable retailers and their suppliers to improve demand forecasting, resulting in inventory efficiency and cost savings.
In addition, CyanSYS also showcased 3 Business Analytics in totality – LS Retail inventory Optimiser, Warranty Hotel and BI4dynamics which gained traction among the audiences during the event.
“IDA has identified Data and Analytics as a strategic focus area … We take an integrated approach in catalysing the growth & competiveness of key economic sectors through greater adoption of analytics, and strengthening our industry capabilities to capture the growing opportunities in global demand for Analytics services…” said Mr Ronnie Tay, Chief Executive Officer of IDA.
CyanSYS envisage through the pervasive use of business analytics to allow companies to discover new insights from vast amount of data generated, make data-driven decisions to increase both efficiency and profitability. CyanSYS new venture into BA territory will complement well with our current ERP offerings providing a one-stop solution, this in all work in tandem with IDA plan to cultivate Singapore into a Data and Analytics Hub.
Please find the following link for the press coverage on the event which also captured some glimpses of CyanSYS participation in the video footage:
IDA Media Releases: