MALAYSIAN, DUTCH FIRMS INK BIG DATA JV DEAL
AMSTERDAM: Malaysia Infocomm Foundation (MIF) and Xomnia B.V. of the Netherlands signed a framework cooperation agreement on Monday to set up a joint-venture (JV) company in Malaysia specialising in the big data business.
Big data refers to data sets that are so large or complex that the traditional processing application software is inadequate to deal with them.
The agreement was signed by MIF chairman Raja Mazhar Mohar Tun Raja Mohar, executive director Saad Mohib and Xomnia founding partners William van Lith and Ollie Dapper.
It was witnessed by Infocomm founder Datuk Mohd Radzi Abd Latif.
Raja Mazhar said the JV company would be set up within a year to help realise the government’s goal of producing 20,000 data analysts and 2,000 data scientists by 2020.
“We want to be in the forefront to support the government’s policy under the big data framework and the digital economy,” he said.
Raja Mazhar said by partnering Xomnia, a pioneer in datathon in the Netherlands, the new company aimed to make Malaysia an international hub for big data entrepreneurship.
It would also focus on developing young talents through competitive environment in datathon.
Van Lith said his company was “very excited” with the partnership as it would provide a chance to achieve its big data and artificial solutions on a global scale.
“We are also very happy that we can now educate talents on a larger scale than ever before,” he said.
Citing examples of the big data business, he said Xomnia created and developed predictive models such as when a burglary or an energy crisis would happen.
Another key business model was to predict how long an employee would work with a company.
Its major clients include the government, banking and insurance sectors, Dutch international airline KLM and the police.
Infocomm founder Mohd Radzi said the venture aimed to expand its business to the Asian market. Bernama