The Infocomm Development Authority (IDA) of Singapore—with its industry partners—has launched an initiative to provide business analytics via a shared services platform to local retailers and wholesalers.
Six companies from Singapore’s retail and wholesale sectors will be piloting the scheme, which will be launched by the middle of next year. Three vendors, who have been chosen through a tendering process, will design and implement the analytics solutions in close collaboration with the six participating companies.
The solutions will thereafter be made available for use by other enterprises through a subscription process.
Speaking at the IDA industry briefing on May 31, CEO Ronnie Tay outlined Singapore’s intention of becoming an “international data and analytics hub” and called the sector a “strategic focus area”.
“We take an integrated approach in catalysing the growth and competitiveness of key economic sectors through greater adoption of analytics, and strengthening the our industry capabilities to capture the growing opportunities in global demand for analytics services,” he said. “This integrated approach involves seeding adoption, developing industry and manpower capabilities and putting in place scalable infrastructure.”
The Call-for-Collaboration (CFC) was initiated in late 2011 and the tender submissions closed in January this year. The CFC document identified three focus areas which would heavily involve analytics usage: customer management and marketing, inventory optimisation, and operations.
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