Wednesday, December 5, 2012

Business Analytics Translational Center in Singapore (BATC)

If you need to manage enormous amounts of data and/or you are struggling to put it to work in decision making, forecasting and predicting, it may be time for you to deploy advanced business analytics tools. And if you are in Singapore, you can turn to Business Analytics Translational Center (BATC) to help your company.

This Business Analytics Center in Singapore, cross-agency initiative by A*STAR (Institute for Infocomm Research (I²R) and Exploit Technologies Private Limited) and the Infocomm Development Authority of Singapore (IDA), has been launched back in September 2012 with an aim to strengthen the availability and adoption of business analytics as an integral component of businesses in Singapore:

The Centre provides key services and activities around Business analytics such as Productization of business analytics technologies through collaboration with industry on projects from thought to adoption, Promoting national awareness and adoption of business analytics through events and target group discussions, Conducting research on general business and technology trends, as well as competitive and business intelligence for particular industry or companies and training of business analytics professionals through direct involvement in projects, as well as training of IT professionals through collaborations with IHLs or international organizations.

In the opening ceremony speech, Minister in the Prime Minister's Office and Second Minister for Home Affairs and Trade and Industry Mr S. Iswaran stressed that Singapore is in good stead to seize opportunities in the market for business analytics. "The country has the expertise, talent and the infrastructure for analytics, as well as a pro-business climate."

Business Analytics levels - Image: ST Electronics

Business Analytics is an umbrella term defining skills, technologies, applications and practices for continuous iterative exploration and investigation of past business performance to gain insight and drive business planning. It is more advanced than Business Intelligence in a sense that it does not provide intelligent reports and dashboards but it also employs complex business modellings for forecasting, prediction and optimization.  \
An example Business Analytics study was recently reported in the Singapore media:
"The locations of taxi pick-ups and drop-offs during the morning peak hour period are being studied by researchers at A*STAR's Institute for Infocomm Research (I2R), in an effort to analyse the patterns of taxi demand and supply. Using data management and mining systems to plough through billions of data points about the positions of 15,000 taxis here, researchers then plot the trajectories of the taxis to determine the locations of taxi pick-ups and drop-offs. "
This research may one day contribute towards developing a smart system that not only notifies taxi-drivers of the best places to pick up their passengers, but also enables traffic to be monitored and managed in real-time, said Minister in Prime Minister's Office S Iswaran yesterday at the opening of the Business Analytics Translational Centre. Source : Taxi drop-offs and pick-ups being studied