Global software developer LiveTiles (ASX: LVT) has partnered with UK-based data analytics company Zegami to launch the world’s first enterprise-grade, visual search and analytics solution.
Under the agreement, Zegami’s technology will be integrated into LiveTiles’ intelligent workplace platform to solve the growing list of big data challenges for large enterprises.
The solution will enable business users to visually analyse large sets of data and make informed decisions without the need to consult third-party information technology experts.
It will include features such as democratisation of big data and visual analysis on a variety of devices; visual exploration and analysis via documents, PDFs, images and audio; and machine learning curation with the ability to “drill down” and identify outliers, biases, patterns and correlations within data sets.
LiveTiles chief executive officer Karl Redenbach expects the solution will lead to larger sales opportunities across industries where big data analysis is in high demand.
“The amount of data which organisations have at their disposal today is mind boggling – the problem lies in finding ways to unlock the trends and anomalies … in other words, the stories hidden in all that information,” he said.
“This solution will play an important role in differentiating the value proposition to key industries such as higher education, manufacturing and retail, for even greater productivity, innovation and competitive advantage.”
The technology will be jointly marketed by LiveTiles and Zegami to meet a growing need among the world’s enterprise-level organisations and is expected to contribute to strong annualised subscription revenue growth.
Zegami’s data exploration platform offers a simple way for business users to view data, facilitate its interpretation and analysis, and disseminate the findings across their organisations without IT involvement.
It is able to display tens of thousands of images, documents, movies, three-dimensional objects or dashboards in a single field of view that users can search, sort, filter or group in real time.
The company was spun out of The University of Oxford in 2016 via investment arm Oxford Sciences Innovation (OSI).
OSI’s shareholders include California-based venture capital firm Sequoia which was involved in early stage development of companies including Apple, Google, PayPal and Airbnb; and Chinese multinational investment holding conglomerate Tencent Holdings Limited, one of the world’s largest venture capital firms and investment corporations.
In a separate transaction, the University of Oxford recently signed as a new subscriber of LiveTiles’ intelligent workplace platform.
At midday, shares in LiveTiles were trading 3.57% higher at $0.58.